The technology of the Board portal has the potential to bring enormous benefits to governance, by reducing time-consuming processes, and allowing for real-time collaboration and decision making. However, implementation requires careful planning and preparation to ensure a smooth and successful transition.
Stakeholder buy-in
Engage key stakeholders in the implementation process like IT directors and directors early on to understand their concerns and needs and help them understand the potential benefits of the portal. By having them join in, you can increase the chances of success and increase adoption.
Agendas and minutes of management
A well-designed portal can simplify and speed up the process of creating board meeting agendas, supporting documents and distributing them to board members. This can help save significant amounts of time, and allow for more efficient and focused meetings and strategic sessions. It will also facilitate a more structured document review and the ability to vote in real-time by boards.
Audits of regulatory audits
A well-implemented web portal can be a powerful tool for demonstrating compliance to regulators during audits of regulatory compliance. A detailed audit trail within portals can demonstrate that the relevant information is readily accessible, and the process of creating and distributing materials for meetings is in line with the best practices.
