When they are performing their fiduciary responsibilities board members are exposed to sensitive information which must remain private. Board members should be able to discuss sensitive information without fear it will leak.

Boards can implement a variety of robust security measures to mitigate the risk of leaks. These include limiting access, stopping sharing documents, encrypting them and backing them up. They can also make use of a secure online board management software that offers granular document controls to ensure that no printing is done or downloading, screen shots, and also a thorough audit trail of user activities right down to page-level information.

A carefully drafted board confidentiality policy can also assist to protect board confidentiality as it clearly communicates to directors the obligations they have and establishes a culture that considers leaks as dishonourable and unprofessional behavior. The chairman or the lead directors can distribute the policy to new directors prior to their appointment and to current directors prior to their term starting to allow them to ask questions and sign the policy if they wish.

For the most sensitive data, a secure data room about portal for boards that lets users access documents only on their own devices and exclusively for this purpose is the best way to safeguard confidential data. Govenda’s secure board portal provides high-end security, granular document control, and tamper-proof watermarks. It also blocks printing to files, blocks permissions to download, and tracks usage.