Board members have access to sensitive information as part of their fiduciary obligations. The information they receive must be kept secret. While deliberating about the employees’ performance issues or discussing strategies for managing a competitor, it is crucial that board members can discuss sensitive information www.dataroomabout.com/ideals-virtual-data-room-review/ without fear of being released to the public.

Boards can employ a range of security measures that are robust to limit the possibility of leaks. This includes limiting access, stopping document sharing encryption, and backing them up. They can also use an online board management software that offers granular controls on documents to prevent unauthorized printing or downloading as well as screen shots. It also provides an audit trail that is detailed and outlines user activities to the page level.

A well-drafted board confidentiality policy can also assist in ensuring confidentiality of board members since it clearly discloses the directors’ responsibilities and creates a mindset that believes that leaking is dishonourable and unethical conduct. The chairman or the lead directors could distribute the policy to directors who are new before they are appointed and to directors who are currently in office prior to their term beginning to allow them to ask questions and sign the policy if they want to.

A secure board portal is the best method to safeguard sensitive data. It allows users to only access documents on devices that they own and exclusively use for this purpose. Govenda’s secure Board Portal offers enterprise-grade security and specific document controls such as tamper proof watermarks, blocked printing to files, revocation of download permissions and logging usage to track who has viewed and printed each individual document.

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