While performing their fiduciary obligations board members are exposed to sensitive information that needs to remain confidential. Whether they’re deliberating on the employees’ performance issues or discussing strategies for managing a competitor, it is crucial that board members can discuss sensitive information without fear of being released to the public.
To minimize the risk of leaks, boards can implement a number of robust security measures like restricting access to sharing, stopping sharing, encrypting documents and backing them up. They can also employ a secure online board management software solution that offers granular document controls to ensure that no printing is done or downloading of screen shots and also a thorough audit trail of all user activity right down to page-level information.
A well-written board confidentiality policy can also assist to ensure confidentiality of the board as it www.dataroomabout.com/advantages-of-having-a-virtual-data-room/ clearly informs directors of their obligations and establishes a culture which believes that leaking is dishonourable and unethical behavior. The chairman or lead directors can distribute the policy to new directors before they are appointed as well as to directors who are currently in office prior to the start of their term to allow them to ask questions and sign if they wish.
For the most sensitive information such as a secure board portal that allows users to access documents only on devices they own and use exclusively for this purpose is the best method to protect confidential data. Govenda’s secure board portal comes with high-end security, granular document control, and tamper-proof watermarks. It also prevents printing on files, deactivates download permissions, and logs usage.
