The Importance of Maintaining Confidentiality and Security of Board Meeting Minutes
The Board of Directors meeting ends with the special document — minutes, that gathers the most relevant information. It can be the discussed topics or the decisions taken during a gathering composed of the members of the highest body of the company or Corporate Governance: the Board of Directors.
Therefore, every detail and information spoken during the discussion must be taken in an objective and clear way. Well, once the written records are finalized, they should be signed and approved mainly by the president among the administrators and by those who made up the assemblage. The safety of this file is vital, that’s why digitalization and management software are useful.
Therefore, in this blog post, we’ll take a look at the tools to digitize the minutes and provide a brief on how to secure them.
Tools to Digitize the Minutes of the Meeting of the Board of Directors
In recent years, we have seen how technology and digitization have become a support tool. This, in addition to facilitating the communication and internal processes of a company. It allows you to save time and simplify tasks for a better organization of pending.
Faced with this, the need to digitize documents has arisen, which not only benefits the process of sending, signatures, and immediate communication but also increases the security of content. Now, when we talk about minutes of the meeting, we not only refer to significant and classified content, it also refers to a procedure that involves multiple steps and a large amount of files.
To do this, in recent years tools have also emerged that could undoubtedly help you in this task, however, they must fulfill the necessary features and functions to simplify your work. The features that you should take into account when picking a virtual boardroom program tool to digitize your written record of the discussion are:
Agility in the Process of Preparing Meetings
Board portal software must have the functionality of simplifying the meeting process: from the sending of calls to the digitization and consultation of documents related to gatherings. It also takes into account the activity for following up on reviews, signatures, results, and authorizations.
Indexing of Information
With this, it refers to the simplification of the input search. That is, indexing consists of the integration of data orderly to create a kind of library or index to facilitate its search.
For example, when placing the title of a gathering or its minutes, the board meeting application will show you all the results compatible with your search, facilitating and simplifying the document management procedure.
Easy and Safe Sending of Information
(In Q3 FY21, Zoom recorded 3.3 trillion meeting minutes, a 65% increase from the previous quarter and a 3,300% surge from the same quarter the previous year).
Currently, email and instant messaging apps have facilitated and saved our working lives on multiple occasions for the easy and fast sending of information or files. We must take into account that they are not the safest alternative, especially when messages from the Directors.
So you have to make sure that the digital tool you consider does comply with data safety and privacy systems, to guarantee and reduce the risks to which the data may be exposed. Two-step authentication is an example of a security system that you could take into account.
Ease of Use for Directors
As it is information related to the processes of the Board, you should take into account that this tool should be easy to understand and use both for you and for the members, or directors. Since its involvement and participation is significant in simplifying procedures or tasks, such as, for example, the collection of signatures or easy prior access to the input on the agenda.
Adequate Level of Security for Board Management Software
Security is an indispensable aspect when opting for a portal. The level required for each board software is closely related to the nature of the organization’s activities. For many tips, the basic safety features are enough. These include:
- Authentication of access to multi-level users.
- Data encryption during transmission and storage.
- Manageable user access levels.
- Watermarks on documents and others.
On the other hand, some people require more advanced solutions to handle confidential documents, such as medical information about patients or employee data. In these cases, the governance software must provide certified physical storage locations, implement advanced disaster protection measures, and allow the client to manage encryption.
To properly evaluate the technical security requirements for the board of directors programs, it is pivotal to consider two factors:
- The general level of confidentiality of the files on the portal.
- The amount of control required by the user.
Do You Know?
On average, employees waste 10 minutes and 40 seconds per meeting, which adds up to 3 days and 2 hours lost annually.
Board meeting management application provides directors and administrators with tools for communication and collaboration. These tools simplify tasks such as preparing for conferences, sharing documents, tracking actions, and conducting online voting and approvals, among other board-related activities.
This secure board software aims to improve transparency, ensure corporate compliance, and boost work efficiency. It streamlines the processes, reducing the need for printing documents, coordinating via emails, and manually collecting notes, and information, and generating minutes.