As a director who sits on a board, do you think that your organization could do a better job with security and access to board documents? Any organization that still relies on paper board books has a long way to go. Companies can save hours of work putting together paper board books, not to mention the costs of couriering them. Some companies migrated to file-sharing services to escape paper board books, but file-sharing platforms or email may not be secure. Plus, if they’re not purpose-built for board work, they may be cumbersome tools.
If either of these are the case, it’s time to bring up the possibility of board software. The two main benefits of board software are that it can improve access and security for your board and the right portal for your organization will do it at an affordable price. Board software is the secure alternative to email and Dropbox and it may even be required by regulators in your industry, especially if the board ever discusses confidential information from consumers. Financial institutions cannot afford to risk consumer or member-data.
One of the most troubling developments in cybercrime may be the rise of cybercrime-as-a-service. As ransomware and hacked data becomes increasingly valuable, cybercriminals are professionalizing and offering their services for a price. In 2016, nine out of ten U.S. businesses suffered a hacking incident, while the impact and costs of ransomware keep going up. No organization, big or small, is safe from cybercrime, from Fortune 500 companies to small not-for-profits.
The other side of cyber-security remains access, and that’s also a point where plenty of boards could improve anyway. One of the goals of many boards is improving pre-meeting engagement, but that requires both more access to board documents and answers to questions, as well as digital tools that allow directors to prepare, discuss, and collaborate. By moving more work in between meetings, boards can streamline the time they spend actually in the meeting discussing key issues facing the organization.
The collaborative tools in purpose-built board software by Aprio engages directors and brings them closer together in their work. Rather than meeting once in awhile, they can regularly share their opinions and concerns. When one director asks for more information about a document, the executive or admin shares that information with everyone involved.
Another concern about board software is affordability. The extensive security features most organizations need once came at a premium, and some vendors still charge higher prices for it. However, affordable board software is available from Aprio, which offers the same premium security you would find in a more expensive software package. Combined with collaboration and annotation tools that make preparing for and managing board meetings easy, it delivers a better bang for your buck.
If your organization hasn’t considered board software yet, or its contract with its existing provider is coming up, it may be time to look for something better. With the right board software, you can improve meetings, security, and access.