When they are performing their fiduciary responsibilities, board members are privy to sensitive information which must remain confidential. Board members need to be able discuss sensitive information without fear it will leak.
Boards can put in place a variety of security measures to reduce the risk of leaks. They can do this by restricting access, stopping sharing documents, encrypting them and backing them up. They can also utilize an online secure board management software program that provides granular control of documents to stop unauthorized printing or downloading of screen shots as well as a comprehensive audit trail of user activity all the way to page-level details.
A well-written confidentiality policy for the board will ensure confidentiality of the board, as it will inform directors of their responsibilities and establish an environment where leaking is considered unprofessional or dishonest. The chairman or lead director could provide the policy to prospective directors before they are nominated and to directors who are currently in office before the start of their term so that they have an opportunity to inquire and sign the agreement if they wish to do so.
For the most sensitive data, a secure board portal that allows users to access documents only on devices they own and use solely for this purpose is the best method to protect confidential information. Govenda’s secure board portal offers enterprise-grade security, granular file control and tamper-proof watermarks. It also prevents printing on files, deactivates download permissions, and logs usage.
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