Board members have access to sensitive information as part of their fiduciary responsibilities. The information they receive must be kept secret. Whether they’re deliberating on the issues of staff’s performance on the job or discussing strategies for managing competitors, it’s vital that board members are able to discuss sensitive information without fear of it being exposed to the public.
Boards can employ a range of robust security measures to reduce the risk of leaks. These include limiting access, stopping sharing documents as well as encryption and backing them up. They can also utilize a secure online board management software solution that offers granular document controls to ensure that no printing is done or downloading of screen shots and a complete audit trail of the user’s activities down to page-level detail.
A well-written confidentiality policy can also assist to ensure confidentiality of the board as it clearly communicates to directors the obligations they have and creates a culture that considers leaks as dishonourable and unethical conduct. The chairman or the lead directors can give the policy to new directors prior to their appointment and to current directors prior to their term starting to allow them to have questions and sign if they would like.
A secure board portal is the most effective method to safeguard sensitive data. It allows users to only access documents on devices they own and exclusively use for this purpose. Govenda’s secure board portal offers enterprise-grade security, granular file control, and tamper-proof watermarks. It also blocks printing to files, removes download permissions, and logs usage.
