Technology for Board portals has the potential to bring enormous benefits to governance, by reducing time-consuming processes and enabling realtime collaboration and decision-making. Implementation requires careful planning and preparation in order to ensure a smooth, efficient transition.
Stakeholder buy-in
Participate in key stakeholders of the process of implementation like IT and directors, at an early stage to comprehend their interests and concerns and assist them in understanding the potential value of a portal. By bringing them on board you can boost the probability of success and accelerate adoption.
Meeting agendas and minutes management
A good web-based portal will streamline and simplify the process of creating board meeting agendas, supporting documents, and disseminating them. This will save a significant amount of time, allowing for more focused and efficient meetings and strategic sessions. It will also allow for a more structured document review, and the ability to vote in real-time by boards.
Audits of compliance with the regulations
A well-designed and implemented web portal can be a useful tool to demonstrate compliance to regulators during audits. A thorough audit trail inside a portal can show that pertinent information is readily available, and the procedure of creating and distributing materials for meetings is in accordance with best practices.
