Paperless Board Meetings are those of a company’s Board that take place on an electronic platform instead of traditional paper documents. The platform, which is referred to as a portal for board meetings, allows directors to look over and annotate documents prior to the meeting, and during the discussion in real-time. This lets board members remain engaged throughout meetings, and also offers the opportunity to improve collaboration among board members.

The primary benefit of going paperless is the fact that it saves lots of time and money. The cost of printing and distributing paper and the resources needed to make it are substantial. In addition, the shift to a paperless approach helps reduce environmental impact, which is increasingly important as the top priority for many boards.

Another way that going paperless can help reduce costs is by reducing the time it takes to collect and preparing information for boards. This means lower labor costs that are beneficial to the bottom line. Additionally, the use of a board management software that can search eliminates the requirement for administrative staff to search for hours through meeting files to find important information.

Finally, going paperless can assist boards in meeting security standards. The best online boards have solid encryption and feature to inform directors of who can access the platform. They also check user activity. These features help prevent sensitive information from being accessed by incorrect people and help boards adhere to regulatory bodies like GDPR and SOX.

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