corporate governance

What Does Good Corporate Governance Look Like?

It’s easy to talk about strengthening your board of directors, but how do you know when you’ve reached a high-functioning level of corporate governance?

In this day and age, building and maintaining a successful board means checking off many different boxes. As the role of the corporate director continues to expand and technology keeps leaping forward, board members should take the time to reflect on their impact as individuals and as a group.

Here are some signs that your board is thriving:

Directors have a firm understanding of their responsibilities

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board software communication

Board Software Communication Vs. Emailing Board Documents

These days, most boards are making the choice to go paperless. While some opt for centralized communication through the use of board software, others have simply stuck to email for their needs.

In fact, according to a 2014 Thomson-Reuters study, approximately 43% of boards were still emailing their sensitive board documents.

While email prevents added costs to board operations, it also poses many potential downfalls and risks.

Email isn’t secure.

You’ve seen the headlines. Email hacks are a dime a dozen these days. Not long ago, we wrote a blog about the infamous Salesforce leak, which originated with an email from Colin Powell.

Because they sent their board documents via email, their hypothetical plans for 14 different company acquisitions became public knowledge.

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board management strategies

5 Best Practices for Effective Board Management

Modern boards of directors must constantly adapt to changing times, changing technology, and changing expectations for companies and organizations. The most successful boards are able to combine strategic vision with effective group dynamics in order to make the best decisions possible. We’ve compiled a list of 5 effective board management strategies to help your board succeed.

1. Clearly separate the role of the board from the CEO’s ability to run the organization.

The CEO and the board of directors are a team. Starting from the time when a board finds and hires a CEO, the board and CEO must be on the same page about expectations, communication, and, most importantly,
roles.

The board of directors provides oversight and input into an organization’s progress. Meanwhile, it is the CEO who is busy moving the company forward with day-to-day affairs.
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what is a board portal

What Exactly is a Board Portal?

As corporate needs and recent cybersecurity issues evolve, new industries and technologies are rising to address those needs. Board portals, board meeting software, board management software: they all refer to a similar group of services. So, what is a board portal?

A board portal is software used by boards of directors, advisory boards, and other leadership teams to securely collaborate and share information.

Board portal features

Board portals are useful for companies and groups in all industries, including financial, government, healthcare, and non-profit organizations. Fundamentally, board portals help your organization’s leaders to communicate securely, access information easily, and make better decisions sooner.
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fintech risk management

FinTech Risk Management: Directorpoint CEO Shares Insights on Risk at FinXTech 2018

Directorpoint’s CEO, John Peinhardt, shared professional insights during a fintech risk management panel discussion at BankDirector’s 2018 FinXTech conference in Phoenix, Arizona. The panel was moderated by BankDirector CEO Al Dominick.

What should businesses do if they start growing too quickly?

The first question dealt with the risk that a business may be growing too quickly. Mr. Peinhardt quipped: “If your business is growing too fast, rule number one is raise your prices.”
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board member

5 Characteristics That Make a Great Board Member

There’s no better place to learn about developing a board of directors than from chairmen and board members themselves. There are certain expectations for board members, as well as the expectation that each board will prepare its members to handle their respective responsibilities.

We recently interviewed the longtime CEO of an energy company. He began by saying that he appreciates all of his directors. To him, the best ones have a firm understanding of the industry, and an understanding of the issues being discussed. They support ethical decisions, and give their time and talent selflessly.

Thanks to that interview, we’ve put together a list of 5 characteristics that separate good directors from great directors.

1) Committed to the organization, through consistent engagement and involvement

An individual who commits to joining a board of directors is pledging to actively pursue ideas and solutions that can benefit the organization. While board activities typically happen after work hours, it’s important for directors to set aside enough time to give board matters their full attention.
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board member training

What Do Boards Do for Board Member Training?

Serving on a board of directors means a lot of learning on the go, but that doesn’t mean there aren’t resources for boards that want to improve.

Whether they’re sought out individually or as a team, board member training options can provide directors with even more specialization and confidence in their leadership abilities.

If you’re a first time board member, look for guidance

Being a first time board member can be an intimidating experience. You’re learning the ins and outs of corporate governance as well as the basics of parliamentary procedure all while guiding an organization.

Walking into a director’s role without any formal training isn’t impossible, but it’s not an easy task either. Whether you’re joining a local nonprofit board or the board for a large corporation, there are tools that can help you become better prepared.

For nonprofit members, you can easily find free online training courses like the ones at nonprofitready.org. For-profit board members can attend in-person training events with outstanding organizations like the National Association for Corporate Directors, which offers a 3-day course specifically for new directors.
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board management software

5 Benefits of Adopting Board Management Software

As technology has increased the speed of communication, it has also raised expectations for boards of directors to conduct their business differently. With the rise of cloud technology and digital access to important documents, boards cannot only rely on printed board packets before meetings to stay up to date.

As more and more boards of directors realize the challenges of keeping information updated and accessible, they have turned to board management software to streamline administrative work and help board members find information more easily.

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tablet vs laptop

Tablet vs Laptop: Which One is Better for Meetings?

As computer technology gets smaller, faster, and more powerful, professionals are finding themselves with more options for the modern workplace. Specifically, technology companies are developing better tablets which could replace the traditional laptop computer for the professional on the go. So the question becomes, in the tablet vs laptop showdown, which tool is the most effective for meetings?

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