Commercial and nonprofit boards share many of the same responsibilities, but the latter also has some distinctive, unique ones. The nonprofit board of directors approves the most important decisions about a company’s strategies, its budget, and the way forward, but as the business world evolves, traditional meeting methods become less relevant to today’s requirements, and with the shift to new technology, the board faces a new challenge: cybersecurity. Get a solution that can help solve many of today’s board problems – a board portal.
How can board portals benefit boards?
Board portals are today’s best method of managing boards of directors, whether for-profit or nonprofit. These programs provide their clients with transparency, cost and time savings, simplified preparation, and a more efficient board meeting. For nonprofits, as institutions with tight budgets, it’s important to know that they can now avoid spending money on paper, ink cartridges, equipment, printers, and the distribution of documents needed by the board. You also don’t have to reprint documents if there’s suddenly an error or a change. Board portals facilitate the simplified creation of agendas for and meeting books, uses automated features and meeting cycle tracking for a more organized process, and all those routine processes that people previously had to do themselves, you can now trust in the hands of software. In addition, the solutions come with robust security and collaborative remote working features. Below, we take a closer look at all the existing benefits of board portals.
2Nonprofits can use a secure means to communicate and collaborate
The issue of secure document storage and sharing is really at the top of the list of concerns for businesses today, as cyberattacks and data breaches are more prevalent than ever. Board portals provide you with a secure backbone in which you can forward documents without risk, and upload them for all to see. Share your calendars, and have discussions in a secure chat room. The programs use data encryption and are certified to the best security standards.
The storage of these programs is usually unlimited, so you can upload any amount of sensitive information you want. You can leave your annotations on documents and officially authenticate them with electronic signatures. The online voting features let you make instant decisions right away so you don’t have to waste time at the main meeting, and they help you identify conflicts of interest and get the views of participants on any issue.
3Enhance engagement with partners through transparency and accountability of board portals
Any sponsor and investor who decides to donate to a nonprofit want to make sure that the organization is operating effectively and can properly allocate the funds allocated to them. You can trust your most sensitive data to be viewed by your partners inside board portals without any risks, as you can regulate access and interaction with documents such as printing, copying, forwarding, and uploading. Also, the security features of board portals for nonprofits allow companies to store personal and financial information about sponsors and donors, as well as information about their customers. All of this data will be securely protected by advanced board portals technology such as additional encryption, dual authentication, visibility denial, and more. When you’re not under constant stress over the integrity of sensitive company data, you can focus on more important and urgent matters, strengthening your position in other aspects, thereby improving overall performance.