Technology for boards can be extremely beneficial to the governance process, by reducing time-consuming tasks and enabling real-time collaboration and decision-making. However, implementing it requires careful planning and preparation to ensure a smooth, successful transition.
Stakeholder buy-in
Engage key stakeholders in the process of implementation such as IT directors and directors early enough to learn about their interests and concerns and assist them in understanding the potential benefits of the portal. Getting them onboard will help in accelerating adoption and increase the likelihood of success.
Agendas and minutes of meetings management
A well-designed portal can streamline the process of creating and disseminating agendas of board meetings and supporting documents. This can help save significant amounts of time, allowing for more focused and efficient meetings and strategic sessions. It also allows for an organized approach to document review and boards to vote in real-time and eliminate manual processes.
Audits to ensure compliance with regulatory requirements
In the course of regulatory audits an effective portal can provide valuable documentation that supports an organization’s compliance with regulators. A thorough audit trail inside portals can demonstrate that pertinent information is readily accessible, and that the process of creating and disseminating materials for meetings is in line with the best practices.
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