Board portal technology could greatly improve governance, by speeding up processes and allowing real-time collaboration and decision-making. However, implementation requires careful planning and thoughtful preparation to ensure a smooth and successful transition.
Stakeholder buy-in
Engage key stakeholders in the process of implementing, such as directors and IT personnel, early on to understand their concerns and needs and help them appreciate the potential benefits of portals. Making them feel included will boost adoption and increase the probability of success.
Agendas and minutes of management
A good portal can simplify and speed up the process of creating board meeting agendas, supporting documents and dispersing them. This can help save significant amounts of time, which will allow for more focused and effective meetings and strategic sessions. It also allows for an organized approach to document review as well as boards to vote in real-time and eliminate manual processes.
Audits of regulatory audits
In the event of audits by regulators, a well-implemented portal can provide valuable documentation to prove an organization’s compliance with regulators. A detailed audit trail on the portal can prove that the relevant information is readily accessible and that the process of creating and disseminating meeting materials is in line with best practice.