ShareVault Virtual Data Room for Board Members19 March, 2021
The single best decision a board of directors can make.
Boards of directors have significant responsibilities that affect their organization, its executives, and rank-and-file employees. Boardroom decisions can move the organization in a new direction, merge with another company, and change the competitive landscape of their industry. With so much at stake, it’s important to consider how to optimize the environment in which a board of directors operates.
The Board needs a secure environment.
First and foremost, a board of directors needs a secure platform in which participants can engage in candid exchanges of views and documents. The board may invite participation from senior executives, lawyers, accountants and others whose input is important to the decision-making process. In today’s world, these participants and the directors themselves may be in a variety of locations and using an array of devices to engage. From a security perspective, the board meeting is only as secure as the in-house systems of these participants – an iffy situation at best.
Solution: ShareVault provides an ultra-secure Virtual Data Room.
- Board members can access documents in a ShareVault secure virtual room from any device and any web browser with the proper viewing permissions, without the involvement of their organization’s IT department
- Protected documents are AES-256 bit encrypted and can only be opened with an active ShareVault connection
- The board can specify whether or not a user has the right to print, save, copy/paste text, capture a screen or access the original document, whether a watermark should be applied, and an expiration date/time
- The board can modify rights at any point in the process
- Documents can be remotely "shredded", which means a user's permission to open a document can be revoked retroactively, even for files already downloaded
- ShareVault document control technology is applied uniformly, regardless of whether documents are viewed on Windows, Mac, iOS or Android
The Board needs secure access to a wide range of documents.
In weighing decisions, the board of directors needs fast and secure access to a wide array of documents, from recently submitted performance data and analytics to archived materials. Archived documents may include:
- Articles of incorporation
- Board overview and directors’ resolutions
- Company organizational charts
- Financial performance data
- Local, State, Federal and Foreign tax records
- Licenses, patents & trademarks
- Real estate information
- Vendor agreements
Solution: ShareVault provides fast access to documents.
Documents uploaded to a ShareVault virtual data room are secure and can be quickly located using ShareVault’s powerful search functions. Search results are sorted by relevance, with synopses showing how the searched keyword(s) are used in context. As users search, they can view “zoomable” thumbnails that provide a quick peek of a document’s first page and use “infinite scrolling” to quickly scan a document to determine its relevance. Filters allow search by document name, file type, date and publishing source.
As an added help in organizing, a document can be “tagged” using ShareVault’s hierarchical tags feature. Tagged documents display a crosslink to where a document may reside in a separate folder. These tags can be revised and reordered at any time using a simple drag-and-drop process.
Focus on the Board agenda, not the process!
ShareVault supports the responsible decision-making process of boards of directors with an ultra-secure platform that provides an organizing principle for document storage and search and access.