https://usboardroom.com/effective-permissions-with-virtual-data-room-providers

A modern board portal is a vital tool for business, reducing time and money as well as aiding better communication between teams of leaders. With so many providers on the market, choosing the best solution may be tricky. This article provides a list of key questions you should ask prospective suppliers to ensure that you select the most appropriate solution for your organisation.

It is important that the provider of your board portal is honest about their plans and is open to feedback from users. This is particularly important given the constant threat of cyberattacks that McAfe estimates will cost businesses more than $1 trillion each year.

Find a portal for your board that is user-friendly for everyone regardless of technical proficiency. This will reduce admins’ time in training and onboarding, and allow for more efficient board meetings. Choose a portal with powerful dashboards, calendar integrations and eSignature features to streamline your governance processes.

During preparation for meetings, directors often want to make notes and notes on the documents they’re looking over. It’s crucial that the software for managing your board you choose allows for this, and also has the audit trails needed to settle any future disputes swiftly and easily.

The board portal should have a questionnaire option to help you with your annual D&O processes, as well as COI surveys. These should be easy to use and offer rapid turnaround for both members and administrators. It’s also worth searching for a system that provides the ability to permanently purge all annotations and comments are removed from the portal after the meeting is finished and the document is no longer required.