How Safe Is Your Sensitive Board Information?

Now trending: board reporting best practices
April 17, 2014

Have you ever considered that the traditional way of sharing board books is dangerous? No, not dangerous like they're going to explode, but dangerous, like they're not secure.

Many organizations continue to print hard paper copies of their board books and use an overnight carrier for distribution to their board members and other stakeholders. The cost of printing and shipping alone is expensive, but the lack of security for highly sensitive documents makes a risky situation even worse.

Think about how frequently board books are put at risk. Consider this scenario:

Your company sent the quarterly board package to a board member who is traveling on business. This board member checked out of his hotel sooner than expected to catch an earlier flight to his next destination. The board book is delivered and ends up sitting on the front desk at the hotel. Anyone passing through the lobby has access to this package and the information it contains, from critical company information including merger and acquisition targets, unreleased financial information, and company forecasts, to drafts of earnings materials.

What happens if your company's board book falls into the wrong hands?

The only one way to keep your board materials safe is to never put them in jeopardy. Allowing such sensitive information to be transported by a third party is asking for trouble. Security has never been more critical than it is today. With volumes of sensitive and confidential company information being created and distributed, security must be foolproof.

Moving your board books to a cloud-based service provider that can be accessed anywhere, immediately, without negative exposure, is the only way to keep your company risk free. A secure board portal will not only remove any possibility of the previous scenario from ever occurring, but it can also reduce printing expenses and the cost associated with using an overnight carrier.

Your board members will thank you. And, you'll gain peace of mind.

Andy Klopstad

About the author

Andy Klopstad is a Director of Product Marketing at Workiva. He has over 19 years of experience with product marketing and international business.