In today’s day and age, one of the first questions we should be asking ourselves is “how secure is [insert any activity here]?” From online shopping to banking to going to the doctor to eating at a restaurant - every activity we do carries with it an element of cybersecurity risk.
The same is true of board meetings.
All of the activities surrounding board meetings - depending on what systems are in place - are highly insecure. Emailing over unsecured servers, the possibility of misplacing board documents or even your laptop or tablet - these all come with the risk of someone gaining access to private information and using it for their personal use. And given that the makeup of most corporate boards tends to be white males over the age of 61 - hackers take advantage of the potential lack of technological knowledge these members possess.
Board portals can help keep board meetings and documents secure. Here’s how:
Typically, board documents are sent over email or - perhaps - via courier. Email can easily be hacked, and old-fashioned mail always runs the risk of getting lost. When using a board portal, however, the entire distribution process is managed by a secure platform. From email to document storage - board portals utilise encryption and blockchain technology to protect a company’s most sensitive information from both known and unknown adversaries.
Collaboration is an essential part of a board meeting - and that means working together before, during, and after a meeting takes place. Board portals are not only great for secure distribution, but they also enable and support secure communication. Board members take and share notes, present ideas, talk through various scenarios, war-game, and discuss the impact of decisions on their business. Completing this activity within a board portal ensures all of the conversations and documents are encrypted and protected.
Board portals allow for management before and up until after and through to the next meeting. Depending on the portal, this happens in a variety of ways, for example, board portals may require multi-factor authentication to access board meetings or documents, adding a layer of security on top of a traditional username and password.
Through the portal, there may also be printing and downloading rights, so that only certain people can access documents, and you can see every person who views a record.
Should a question ever come up - this makes it easier to target who has access to information. And finally, board portals eliminate the possibility of human error. People lose and misplace things all the time - by having information encrypted in the portal, there is no need to worry about information getting into the wrong hands.
A board portal makes board meetings more secure. But at the end of the day, any company that utilises a portal MUST use it as their primary resource. Sending documents to yourself or a coworker via email, for example, puts board information at risk and can lead to leaks or hacks. It’s time to get on board - with the portal.