Which board management software is the most secure for document sharing?

Quick roundup

• The true cost of not using secure software for document sharing.
• The top must-have features you’re looking for in secure board management software.
• Why Board Intelligence is the preferred supplier to many of the most security-conscious organisations in the world.
• Tips on choosing the top board management software for document sharing.

Why is security critical for boards?

Boards deal with information that can affect markets, shareholder value, and reputations. Leaks or breaches can have lasting consequences. According to U.S. business attorney Aaron Hall, nearly 75% of security breaches originate from insiders, which could be current or former employees, contractors, or business partners, who misuse their access.

You certainly don’t want your draft strategy papers, M&A discussions, or other sensitive materials shared in board packs to be accessible to just anyone. But with remote and hybrid meetings now common practice, the risk has grown. Email attachments and consumer file-sharing platforms, especially, are no longer suitable for sensitive board documents.

Remember when, in 2016, a Salesforce board member's emails were hacked, exposing confidential merger-and-acquisition documents? While board members are often the target of hackers, it would never have happened if they’d used a board portal built with enterprise-grade security.

Thankfully, board members increasingly acknowledge the value of a secure board portal. Our survey with the Corporate Governance Institute revealed that 83% of directors using a board portal feel their information is secure, compared to just 41% of those without one.

For a deeper dive, take a look at our article on the benefits of using a board portal versus general collaboration tools. We highlight how secure board management software reduces the risk of highly confidential board materials ending up in the wrong hands. You’ll also learn how it solves the chaos around version control and unauthorized sharing, which can have significant legal or reputational consequences.

“If you look at any survey of general counsel (or, indeed, you ask one), cyber security will always be one of the issues that keeps them awake at night.”

Lawson Caisley, Chair of the cyber risk committee, White & Case, via the FT

What security features should you consider?

When evaluating board management software, boards should look for a platform that offers secure-by-design architecture. It must be built with confidentiality, auditability, and board member safety as top priorities.

Look for these at a minimum:

• Document encryption in transit and at rest.
• Granular permissions to control who can view, comment, or share each document.
• Biometric login via FaceID or TouchID for added protection.
• Government-approved data hosting at ISO-certified data centers, ideally local to your region.
• Multi-board functionality that allows for single sign-on for directors serving across multiple boards.
• Audit trails that create transparent records of access and actions.
• Two-factor authentication (“2FA”) prevents attackers who have guessed or stolen a director’s password from logging in without a second, secret code.
• Integration with video conference apps so board members aren’t fooled by fake remote meeting links.
• Note and comment sharing within the board portal to avoid accidentally sharing confidential information.

Tip: Find out how Board Intelligence keeps your information safe and secure with our security and resilience guide.

What are the top secure board software options?

Board portal software is becoming increasingly secure in the face of a myriad of threats. Let’s see how Board Intelligence’s portal and AI-powered Lucia reporting platform stack up against the competition.

Board Intelligence

The most secure board reporting software creates a platform where directors can confidently share, read, and collaborate on sensitive documents. With Board Intelligence, boards get both: security strong enough for government data and simplicity that directors actually use. Lucia, Board Intelligence's secure management reporting software, enhances collaboration by providing a centralized, encrypted environment for sharing sensitive materials.

Board Intelligence board portal

The Board Intelligence portal is the only UK-headquartered and UK-hosted board portal approved for hosting government data. It offers ISO 27001 and Cyber Essentials Plus certification, giving directors confidence that their materials are protected to the highest standards.

Permissions can be set at a granular level, so sensitive documents are visible only to those who need them. Biometric login on iOS and macOS devices, combined with an industry-leading single sign-on solution, makes it easy for directors to access documents securely without struggling with multiple passwords.

But that’s not all. With our board portal, you can:

• Centrally control who can download papers.
• Secure meeting access by sharing calendar invitations and remote/hybrid meeting links directly in the board portal.
• Monitor what documents each board member has access to.
• Access an audit trail of who has logged in and what they’ve seen.
• Remove individual users’ access to specific packs as needed.
• Eliminate the risk of documents being shared in the wrong channel.

For more info, read on to find out how board portals keep your information secure from cyberthreats.

Lucia: AI-powered reporting

Lucia, our AI-powered board reporting software, strengthens security not just by protecting data but also by improving the quality of what boards read. Instead of hundreds of unnecessary pages, Lucia helps report writers produce clear, structured, concise board packs. Less unnecessary material means fewer opportunities for sensitive data to be shared inappropriately. By raising the standard of board reporting, Lucia indirectly enhances governance security.

Other board management software options

Organizations handling sensitive documents must choose a board portal with strong security features. Here are four platforms renowned for their secure document-sharing capabilities, along with their strengths and limitations:

Diligent

Diligent Boards offers a comprehensive suite of security features, including encrypted virtual data rooms, two-factor authentication, and secure messaging. These tools facilitate the safe sharing of sensitive materials with internal stakeholders and trusted third parties. The platform's complexity may pose challenges for non-technical users, potentially hindering user adoption.

Board Intelligence overcomes these limitations by combining the same high-level security features with an intuitive, user-friendly interface. Non-technical users can easily navigate the platform, access documents, and collaborate securely without the steep learning curve often associated with Diligent Boards.

Azeus Convene

Azeus Convene ensures document security through features like multi-level encryption, access controls, watermarking, and secure document signing. These measures protect sensitive information and support compliance with regulatory requirements. Despite these features, Azeus Convene’s user interface may not be as intuitive for non-technical users, which could lead to them not using the security features correctly.

Board Intelligence overcomes these limitations by pairing enterprise-grade security with a highly intuitive interface. Users can navigate, access, and collaborate on sensitive documents easily while maintaining the same rigorous encryption, access controls, and compliance standards.

OnBoard

OnBoard provides robust security with features such as two-factor authentication, biometric login, remote wipe capabilities, and granular permissions. These tools ensure that sensitive data remains secure and accessible only to authorized users. The platform's advanced security features may require a learning curve for non-technical users, potentially affecting ease of use and adoption.

Here, again, Board Intelligence’s board portal intuitive user-interface means mistakes are limited and using security features and setting permissions is a breeze.

BoardPro

BoardPro offers secure document sharing with features like encryption and login authentication, ensuring that sensitive information is protected. It lacks advanced functionalities, such as detailed audit trails or granular permissions, which are crucial for tracking user activity and ensuring compliance in complex governance environments.

In contrast, Board Intelligence incorporates advanced security features, including comprehensive audit trails, customizable user permissions, and robust encryption protocols.