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A virtual data storage and board portal is a digital platform designed to provide secure centralised storage of files and real-time communication between multiple users. It allows administrators and directors to work more efficiently without the need to send multiple versions of documents or risk them getting lost in the jumbled email chains. It’s also an excellent tool for companies looking to raise funds or sell their business as it makes it easier for prospective buyers to access crucial business records.

Stakeholders are able to access the board management application on any device or place that is connected to the internet and are able to fulfill their governance responsibilities from any location. They can prepare for meetings, and edit and share documents. They can also discuss them prior to and during meetings. Video conferencing lets them take part in meetings even when they aren’t physically present.

VDRs, unlike conventional file-sharing software, include the latest security features to ensure that the files and documents on the platform remain secret. Data encryption and tightly controlled access rights are among the features that help minimise the risk of data breaches or information theft. It also provides a reliable hosting platform and uptime statistics for more reliability.

In addition, it enables organizations to collaborate on projects with partners, regardless of whether they are located in the same building or continent. This increases efficiency and promotes better decision making during board meetings. Moreover, it can reduce expenses and time spent gathering and preparing meeting materials. iBabs The powerful board portal solution offers all of these advantages and more. Request a demo to see how it could change the way your board conducts meetings.