A virtual data storage and board portal is a digital platform intended to provide secure centralised storage of documents and real-time collaboration between multiple users. It enables administrators and directors to work more efficiently without the need to send multiple versions of documents or the risk of them getting lost in a cluttered email chain. It’s a fantastic tool for businesses looking to raise funds or optimizing governance and business processes sell their business since it makes it simpler for prospective buyers of the company to access vital records.
Stakeholders have access the management software for board members from any device or location that is connected to the internet. They can fulfill their governance duties from any place. They can prepare for meetings edit and share documents, and discuss them prior to, during and after meetings. Video conferencing lets them participate in meetings even if they are not physically present.
VDRs unlike traditional file-sharing software, include the modern security features to ensure that the documents and files stored on the platform are confidential. These include encryption for data and access rights that are highly restricted to minimise the possibility of data breaches as well as information theft. It also provides a stable platform for hosting and uptime statistics to increase reliability.
It also allows organizations 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. Furthermore, it helps reduce expenses and time spent making and collecting materials for meetings. iBabs The powerful board portal solution provides all of these advantages and more. Request a demo to see how it can transform the way your board meets.