Paperless Board Meetings are board meetings that are held on an electronic platform rather than traditional paper documents. The digital platform, also known as a”board portal” lets directors review and annotate documents prior to the meeting and during the discussion in real time. This enables board members to remain engaged during meetings and also allows to enhance collaboration among board members.

The biggest benefit of going paperless, is that it saves lots of time and money. The amount of material required to make paper is huge and the price of printing and distribution goes quickly. The move to a paperless approach also reduces the environmental impact. This is a priority issue for many boards.

The reduction in the amount of time needed to gather and prepare the information for boards is another way that going paperless reduces costs. This results in lower expenses for labor, which is beneficial to the bottom line. The use of a board management software that includes search functionality can reduce the time the administrative staff has to search through meeting files to locate important information.

The final benefit of going paperless is that it can assist boards in meeting security standards. The most secure online boards come with secure encryption and a feature to inform directors of who can access the platform. They also monitor user activity. These features allow boards to comply with the regulations of bodies like GDPR and SOX and stop sensitive information from being accessed by unauthorized individuals.

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