Board communications involve managing and distributing large amounts of confidential documentation, which can be complicated with board members spread around the world. There are some typical challenges that board members are normally faced with:
The iDeals Virtual Board Room which is powered by iDeals Virtual Data Room which is a cloud-based secure platform that provides a highly secure yet easy-to-use environment to manage boardroom communications. Moving from a paper-based system to an online boardroom portal can deliver numerous benefits to an organization.
The board portal has been long considered as a one-way communication tool. However, with the introduction of new interactive technologies, the possibilities for two-way communications have emerged as well. The iDeals Virtual Data Room allows to communicate through Q&A section as well as share highly sensitive documents, such as:
With iDeals boardroom portal, users can access board packs any time, in any place. This is especially beneficial if one or more board members is travelling. With more time and flexibility on their side, directors are better prepared to make important strategic discussions.
The production of physical board meeting packs is an anachronistic nightmare that can take days or weeks, with the updates sent out to board members by courier to make sure that all the participants are using the latest version. Our virtual board room software can cut this down to hours and solve other problems along the way.
The security of your corporate documentation is always a major concern. Board materials can be lost in the mail or with a courier. With a digital board room these risks virtually disappear.
Many companies are using virtual board portals as indispensable business tools for hosting and sharing corporate information. According to a recent survey by KPMG’s Audit Committee Institute, leading global enterprises are rapidly adopting online boardroom software.