Digital transformation is in progress and has reached boards. As boardrooms go digital, there’s no doubt that tech tools and digital platform can significantly increase the efficiency of board meetings. They can be leveraged to speed up the preparation of agendas and board packages, facilitate document sharing, annotations, votes and surveys during the meeting and offer features of tracking reporting and follow-ups.
However, boardrooms are the place where highly sensitive data is shared. It’s where you make decisions that make or break an organization’s success. Don’t digital tools introduce a risk of data breaches? And what about the compliance with data protection regulation such as the European GDPR?
Boards shouldn’t need to make a choice between efficiency and data security. And they don’t have to when they select the right solution. Here are some elements that will allow for secure and efficient digital boardrooms.
Compliance with local/European regulation
In Europe, data protection is paramount, even more so since GDPR came into effect in 2018. All organizations must comply with this regulation to ensure the protection of sensible personal data.
A key element of the legislation is that this information must stay in the European Union. That means it must be hosted and saved on Europe-based servers. This might not be the case when you’re relying on a provider that’s based in the U.S. for instance and that may need to comply with regulation contrary to the European one in certain cases. So when selecting a digital board portal solution, make sure your data is securely stored on highly secure, local servers and that it’s protected against transfers to other legal systems.
Security measures integrated into the platform
Another quintessential factor for secure boardrooms is the security integrated into the tech tool itself. The solution needs security measures beyond basics, including certifications such as ISO 27001 and SOC2 and comprehensive access control. Better yet, it should have a zero-access principle. This means that once your data is integrated into the tool or platform, it’s exclusively yours, and no one outside your company has access to your critical information.
You need a tool with a robust security framework, creating an environment of trust and confidence that can only improve efficiency.
To learn more about essential security features to look for in a board portal tool, such as encryption and two-factor authentication: Data Security Beyond Basics: Advanced Strategies for Legal Professionals
An all-in-one platform for your meetings
To successfully carry out your board meetings and achieve efficiency gains, it’s important to have all the information you need in one place. You need a secure and intuitive platform to facilitate communication thus enhancing your board’s efficiency.
Your solution should include advanced features, for board members and board secretaries alike, and help them before, during and after the meeting. Here are some examples:
Before: agenda creation, possibility to annotate it, invitation management digital board packets
During: document sharing, annotations, votes, surveys, natively integrated signature tools
After: reporting, signature tracking and reminders, minute creation.
Leveraging secure AI
Almost every provider will claim that their tool is AI-powered. It’s true that artificial intelligence can significantly boost boardroom efficiency. But doesn’t that mean you’re exposing your highly confidential data to the risk of data breaches?
Yes and no. If a board portal solution integrates third-party AI, your data may leave the platform. This increases the risk of data breach and cyber-attacks. – inacceptable for the confidential information you share in your boardroom.
The solution lies in private AI as developed by DiliTrust. We have developed our own AI and integrated it into the platform. Your data is handled without leaving your secure ecosystem, even DiliTrust doesn’t have access to it. Moreover, thanks to two decades of expertise in LegalTech, our AI has been trained on data specific to governance and legal, offering best-in-class accuracy.
We have developed exciting features leveraging our secure AI. To see one of them in action, watch our webinar: Meet DiliChat, Your New Legal Assistant
No compromise
Don’t choose between efficiency and security. You need both to make your board room the place of strategic decisions that drive your organization’s success. Make sure to leverage a solution that offers the features that help increase board efficiency with no compromise in terms of data security. To find out how the DiliTrust Board Portal helps increase your board room efficiency, ask for a personalized demo!
