According to IBM’s report on the cost of a data breach, the cost of a data breach increased by 10% over the past year — from $3.68 million to $4.24 million. According to the same report, companies with a good security posture have significantly lower costs compared to those that don’t employ measures to prevent cyber attacks from happening. Hence, companies should invest in different software, such as secure board portal solutions, that will secure their business processes and save them from the threat of cyberattacks.
Fortunately, platforms that can help mitigate the risk of cyber threats are widely available in the market. Convene, for example, is a board meeting software that relieves your fears of cyber attacks. Your company can conduct secure meetings and collaborate seamlessly, thanks to its robust security features.
In this guide, explore the security features of Convene that are considered “must-haves” when choosing a board portal solution to enhance and safeguard your governance workflows.
What makes Convene the best software for board security?
As some companies shift to a hybrid and work-from-home setup, there are challenges and difficulties that they need to consider to prevent cyber attacks. But with proper risk management and software that can safeguard data, the transition will be seamless and hassle-free.
Choosing Convene as your company’s board portal software will help ease your worries about cyber threats. With its advanced security features, you’d be able to protect sensitive information and prevent data leaks from happening.
Role-Based Access Control
Information within your business is confidential. Strategies, data, and other sensitive information must be secured and should only be seen by people who need access to it. One of Convene’s security features is allowing organisations to limit the access of their employees to their documents.
With Convene, companies have full access to and control over their documents, while upholding security by setting permission-based access controls. For instance, a finance executive can see budget reports, sales reports, and other reports that concern the budget, but the marketing department cannot. This solves the worry of the possibility of materials being handed out to the wrong person, which will then lead to document mismanagement.
Multi-level Document Encryption
Document encryption is the process of translating a document from being readable to an encoded format. It protects documents from being accessed by other people and can only be decrypted through the use of passwords or authentication.
With this reliable data protection, the chances of being hacked are diminished. In Convene, documents are protected with AES 256-bit encryption, ensuring that the only people allowed to have access are those who are given permission.
Multi-Factor Authentication
When enterprises use Convene, each user will be given their own unique username and password. Upon logging in, Convene implements multi-factor authentication.
Multi-factor authentication allows users to verify that the accounts they are using are their own accounts. It can be done through the use of face recognition, an SMS verification code that can be sent to the users’ mobile devices, or a time-based one-time password via Google or Microsoft Authenticator. This prevents unauthorised people from accessing your accounts.
User Activity Monitoring
Convene provides a unique security feature that allows system owners to monitor the activity that has occurred in their system. Convene’s Audit trail feature keeps track of users who sign in and out of the system, as well as users who download and upload new versions of documents. As a result, system administrators will be able to keep track of all activities on their portal. Since they have comprehensive access control to their portals, they can restrict users who are doing suspicious activities.
Cloud Data Segregation
Cloud hosting allows businesses and enterprises to have secure storage using a third-party provider. It decreases the reliability of using physical equipment, which may cause data breaches due to malicious actors stealing hardware.
Convene has partnered with the leading provider of cloud services, Amazon Web Services. This cloud hosting provider can analyse billions of events and still be able to detect, prevent, and defer any form of cyber attack. It assures clients that their data is protected by an additional layer of security. Businesses will have their own data schemas that separate them from other enterprises, which can be accessed 24/7.
Asides from cloud hosting, Convene also offers on-premise hosting, which is perfect for businesses and organisations that require stringent compliance with data residency and security.
Intrusion Prevention System
Convene takes data security and privacy seriously. It deploys a 24/7 intrusion prevention system to prevent data breaches from happening. With this feature, Convene continuously scans newly uploaded documents to detect any suspicious malware that can harm your business.
Vendor Reliability and Reputation
Aside from its world-class security features, Convene has been recognised by entities for its reliability. Below are the certifications that Convene earned throughout the years delivering quality service to clients:
- CMMI Level 5 — Considered to be the highest level software development capability according to the Software Engineering Institute’s Capability Maturity Model for Software Integration.
- ISO 9001 — Earned because of Convene’s continuous improvement of the business process and ensures that innovations will always answer the customers’ requirements.
- SSAE 16 — also called Statement on Standards for Attestation Engagements 16, is a regulation created by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) for redefining and updating how service companies report on compliance controls.
Compliant with SAMA Framework
The Saudi Arabian Monetary Authority or SAMA was established because of the continuous cyberattacks that have been happening in Saudi Arabia. It serves as a guide for organisations on how to assess and prevent cyber threats. Convene has been developed to keep your data safe while complying with government regulations through security automation technologies and controls.
Convene can help your institution comply with the SAMA Framework particularly on the:
- Cyber Security Risk Management and Compliance — Convene can help the business by classifying and creating remediation plans for discovered vulnerabilities.
- Cyber Security Operations and Technology — Convene allows configuration of the whole system, users can restrict and limit access to their employees.
Enhance Board Security with Convene
Cyberattacks will always be present, regardless of how prepared and tech-savvy your business is. The greatest thing you can do is invest and help minimise the risk. Choosing Convene as your secure board portal software is one of the best ways to reduce the potential negative effect of cyberattacks on your company.
Convene’s robust security features ensure that your meetings and documents are kept secure at all times. Start your Convene journey now and explore other benefits that will make your board smarter and more secure. Book a demo today!
Bob is the Sustainability and CSR Advisor at Convene. During his tenure in many environmental organizations, he has helped businesses in upholding corporate social responsibility by reducing consumption and waste. Bob is an advocate of environmental sustainability and, as part of his practice, imparts information and tips on how people and organizations can go green.
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