In the course of performing their fiduciary duties board members are exposed to sensitive information that needs to remain confidential. Board members must be able to discuss sensitive information without fear they will share it.
Boards can implement a variety of security measures to mitigate the risk of leaks. These include restricting access, stopping document sharing encryption, and backing them up. They can also make use of an online board management solution that provides granular control over documents to prevent unauthorized printing or downloading, and also screen shots. It also offers a detailed audit trail detailing user activity to the page level.
A well-written confidentiality policy for the board can ensure confidentiality of the board, as it informs directors of their responsibilities and establish an environment where leaks are seen as dishonourable or unethical. The chairman or the lead director could distribute the policy to directors who are considering it before they are nominated, and to directors who are currently in office before their term starts so that they have an opportunity to ask questions and sign the agreement if they wish to do so.
For the most sensitive data, a secure board portal that allows users to ideals data room access documents only on their own devices and exclusively for this purpose is the most effective way to safeguard confidential data. Govenda’s secure Board Portal offers high-end security and precise document control features like watermarks that resist tampering, blocking printing to files, revocation of download permissions and logging usage so that you can determine who has viewed and printed each individual document.
