Board Communication Software: The Key to Success

by Carlo Gesmundo on October 15, 2018

One of the most crucial contributors to any board’s success is board communication software. The aptitude to properly convey a message and have the receiving party understand will decrease the likelihood of failure as well as increase efficiency and productivity in any work process.

With boards collectively making big decisions for organizations, communication between one another should be focused on delivery.  To reduce the room for error, clear and concise messages must be delivered in a direct and timely manner. Couple this with the need to keep the organization’s most confidential information within the boardroom, and a secure medium becomes even more of a priority.

It’s common practice for board members to utilize software that’s not only free, but also familiar. Emails and instant messaging do provide the basic needs for communication, but it’s the familiarity that blinds users from the possible improvements. Sina Kaye Lockley, a communication specialist at Staffbase, lists 9 Reasons Email is Bad for Internal Communication which summarizes a few pain points to using traditional email, with emphasis on the inability for group collaboration.

Agenda Management

Building a meeting agenda requires close collaboration between upper management and administration to ensure that the content is aligned with the topics of discussion and the interests of the organization. Replying back and forth in email threads causes the discussion to be lost in the bulk of it all, and time to send and receive can delay the ideal communication flow. In the event that an urgent change must be made, it may be too late to notice.

Different parties must be able to communicate with each other immediately and identify which sections of the agenda needs attention. Board portals let organizers build agendas on the same platform, allowing them to see the content as it comes together. From there, they could quickly point out areas that need attention and make the needed improvements by placing annotations on specific parts of the document.

Distribution and Preparation

Email protocols are also known to be unsecure. This puts the organization’s confidential information at risk when distributing documents to board members. Tim Sandler, CEO of Tessian, even wrote on how 2017 became the year of email security breaches. Not to mention that given the amount of content and the content itself in the meeting agenda, attaching it to an email may not even be an option at times due to the risk of its confidentiality or the bulk of it.

Since board portals move all the work to an all-in-one platform, organizers can easily distribute board documents within a secure environment. The agenda and other supporting documents are also saved on the portal so that board members gain immediate access – anytime, anywhere, offline, or online. Given their busy schedules, this enables them to make necessary preparations on the go.

Post-Meeting Review

Once the meeting has finished, secretaries will send the meeting minutes to the participants via email. Directors will also make their own notes on the board packs, but accessing their notes will not be as convenient because they would have to manually send these from one director to another. Chances are the notes and minutes may be on a separate sheet of paper or file which increases the amount of clutter to be sent.

Some decisions are also made after the meeting to allow board members more time to review the documents and give the decision more thought. Once the decision is made, email as the medium for approving or disapproving votes might not be best environment for further communication. The thread-like nature of emails may not be timely enough for a discussion about the reasons behind the votes or the results of the poll.

Why switch to Board Portals?

One of Convene’s design philosophies is to replicate the natural feeling of face-to-face collaboration and move that experience to a convenient but effective solution. Board management software (also otherwise known as board portal) should be able to optimize and align all of the processes that boards partake in, such as preparing and distributing documents, reviewing agendas, making post-meeting decisions, and upholding overall transparency and accountability within the board.

Without proper communication, board collaboration is in jeopardy, but with the help of a board portal to improve communication, boards can improve efficiency and productively in and out of the boardroom.


Security Address: 3 Tips for Facing Cybersecurity Threats

by Jason Cruz on October 3, 2018 and last updated on October 3, 2018

 

Rapid developments in technology have greatly increased the risk of cybersecurity issues from all around the world. Companies, whether big, medium, or small, have been targeted by hackers primarily through malware attacks and phishing scams. As a result, business leaders are starting to realize the need to strengthen their organization’s cybersecurity measures. In this article, we’ll list three measures you can use to ensure the security within your organization.

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The New Wave of Cybercrime Trends that Businesses Should Know

by Jose Sarmiento on September 28, 2018

 

In an age where organizations and individuals are becoming increasingly reliant on the cloud, internet of things (IoT), and workforce mobility for critical business functions, it is becoming more difficult to keep track of the threats and areas where we are most vulnerable. According to CSO Online, damages caused by cybercrime are estimated to hit the $6 trillion mark by the year 2021. Experts predict cybersecurity spending to exceed the trillion dollar threshold over the next five years. With financial repercussions reaching all time highs, it’s of utmost importance to stay ahead of the curve and take note of the new wave of cybercrime trends that are expected to blight the business landscape for years to come.

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The Relevance of Board Assessments

by Sam Tamayo on September 20, 2018 and last updated on September 20, 2018

The Relevance of Board Assessments

A board of directors’ main purpose is to ensure the organization’s success by jointly directing the company’s activities; this is achieved by making key decisions that would impact the organization’s bottom line. Appointed to act on behalf of the shareholders, they are entrusted to deal with issues pertaining to corporate governance, corporate social responsibility, and corporate ethics among others.

Considering the weight of their responsibilities on a company’s performance, it is quite surprising that very few organisations conduct regular assessments and derive meaningful results. In India, board assessments were a non-mandatory requirement under Clause 49 of the Listing Agreement. This is prior to Securities and Exchange Board of India’s (SEBI) Guidance Note which detailed guidelines on how board evaluations should be conducted.

Furthermore, on a study conducted by the Rock Center for Corporate Governance together with The Miles Group, it found that most board evaluations fail to recognize and correct poor performance among individual directors. In this nationwide survey of 187 boards, the results suggest that directors do not give each other honest feedback and boardroom dynamics are often sub-optimal. (more…)


The Evolution of the Board Pack: 5 Ways on How to Improve It

by Gabriel Llanto on September 13, 2018 and last updated on September 18, 2018

The Evolution of the Board Pack: 5 Ways on How to Improve It

You rummage through your briefcase in search of your board pack: you see that some of the pages got folded because your board pack wasn’t properly stored away. After quickly going through the content, you realize that there are misprints and errors! And you don’t have time to make the necessary changes because your board meeting is in five minutes – To make things worse, you notice that some parts of your board pack, which happen to be confidential data, are missing!

Although this scenario may be a bit of a stretch, it can still happen to board directors who sit in multiple board meetings in a year. What, then, can you do to improve the quality of your board meeting packs and avoid a similar situation? Listed below are five ways on how to revolutionize your board packs:

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Start Reducing Cost and Improving Board Efficiency Today

Convene is our very own board portal solution. What makes Convene special?

  • Enterprise-grade security: encryption, access rights control, device security
  • Cross-platform support: native iPad, Android, Windows and Mac apps + web access
  • Automatic conversions to PDF to reduce manual conversion
  • Real-time private and shared annotations with automatic archives
  • Live control of other devices to synchronise pages during the meeting

Convene has many other features to improve boardroom productivity, security, and governance.

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