A virtual portal for data storage and a board portal is an online platform that enables real-time collaboration between multiple users and secure centralised storage of documents. It allows administrators and directors to work more effectively without having to send numerous versions of documents or be concerned about them being lost in the jumbled email chains. It’s also an excellent tool for companies looking to raise funds or sell their business because it makes it much easier for prospective buyers to access important business records.
Stakeholders have access the management software for board members from any device or place that is connected to the internet and can carry out their governance duties from any place. They can prepare for meetings edit and share documents and discuss them prior to meetings, and afterwards. They can also make use of video conferencing to take part in meetings when they are physically unable to attend.
Contrary to conventional file-sharing software, VDRs incorporate top-of-the-line security features to ensure the confidentiality of the files and documents stored on the platform. These include data encryption and highly restricted access rights to limit the chance of data breaches and theft. It also offers a reliable hosting platform as well as uptime statistics for greater reliability.
It also allows organisations to collaborate with partners on projects, regardless of whether or not they are located within the same building. This increases efficiency and encourages better decision-making during board meetings. It also helps reduce the time and cost in gathering and preparing meeting materials. iBabs provides all of these advantages and more through our powerful portal for boards. Request a demo to see how it can reducing the time for approval of documents change the way your board conducts its meetings.