A virtual data storage and board portal is a digital platform intended for secure centralised storage of documents and real-time collaboration among many users. It allows directors and administrators to perform their duties more efficiently without having to send multiple versions of documents via email, or risk being lost in a sea of email chains. It’s also a great instrument for companies looking to raise funds or sell their business since it makes it much easier for prospective buyers to access crucial documents of the company.
Stakeholders have access to the board management application from any device or place that is connected to the internet and can perform their governance duties anywhere. They can prepare for meetings, edit and share documents, and debate them prior to meetings, during and after. They can also make use of video conferencing to participate in meetings even when they are unable to physically be there.
In contrast to traditional file-sharing tools, VDRs incorporate top-of-the-line security features to protect the confidentiality of the files and documents stored on the platform. These include data encryption and access rights that are highly restricted to minimize the risk of data breaches and information theft. It also provides a stable hosting platform as well as uptime statistics for greater reliability.
It also lets companies collaborate with partners on projects regardless of whether or not they are in the same building. This increases efficiency and promotes better decision making during board meetings. Additionally, it can cut down on costs and time spent on preparing and collecting materials for meetings. iBabs is a powerful portal for boards. solution offers all of these advantages and more. Request a demo to discover how it can improve the way your board conducts its meetings.