Board members are able to access sensitive information as part of their fiduciary duties. This information must be kept confidential. If they’re discussing employees’ performance issues or discussing strategies to manage the competition, it’s crucial that board members can discuss sensitive information without fear of it being disclosed to the public.
Boards can employ a range of strong security measures to limit the possibility of leaks. They can do this by restricting access to documents, preventing sharing by encryption, encrypting them, and backing them up. They can also utilize an online solution for managing boards that offers granular controls on documents to prevent unauthorized printing or downloading as well as screen shots. It also provides an audit trail that details users’ activities from page level.
A carefully-drafted confidentiality policy for the board will ensure confidentiality of the board, as it will inform directors of their obligations and create an environment where leaks are considered unethical or dishonourable. The chairman or lead directors can distribute the policy to directors who are new before they are appointed as well as to current directors prior to their term starting to allow them to ask questions and sign the policy if they would like.
A secure board portal is the most effective way to safeguard sensitive information. It lets users only access documents on devices they own and exclusively use for this purpose. Govenda’s secure board portal offers enterprise-grade security, granular file control and tamper-proofed watermarks. It also blocks printing to files, revokes the permission to download and records usage.
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