A virtual data storage and board portal is a platform for digital data 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 the need to send multiple versions of documents via email, or risk being lost in a mess of email chains. It’s also a useful tool for companies seeking to raise funds or sell their business as it makes it easier for potential buyers to access the most important company records.
Stakeholders are able to access the application for managing boards from any device or place that is connected to the internet and can carry out their governance duties anywhere. They can prepare for meetings, and edit and share documents. They can also debate them prior to and during meetings. They can also use video conferencing to take part in meetings even when they are physically unavailable.
Contrary to conventional file-sharing software, VDRs incorporate top-of-the-line security features to ensure the confidentiality of the documents and files stored within the platform. These include data encryption and highly restricted access rights to limit the chance of data breaches as well as information theft. It also provides a secure platform for hosting and statistics on uptime to increase reliability.
Furthermore, it permits organizations to collaborate on projects with partners regardless of whether they are located within the same building or on the same continent. This improves efficiency and facilitates better decision-making during board meetings. It can also reduce the time and costs spent on gathering and creating meeting materials. iBabs provides all of these advantages and more through our powerful portal for boards. Request a demonstration to see how it can alter the method your board conducts meetings.