Audit Committees: The Standing Pillar of Corporate Governance | BoardBookit

Top Four Preventable Organizational Compliance Risks

Ensuring compliance on an organizational level can seem like a monumental undertaking. There are countless regulations, policies, and threats to consider when discussing an organization’s compliance. We’ve connected some of the top culprits that can cause organizations to fall out of compliance in this article to provide a roadmap for better governance. 

Version Control

Managing document versions can be frustrating, and that frustration can increase exponentially when collaborating as a team. Emailing documents back and forth can lead to storing the wrong one as the final version and isn’t ideal for keeping information secure. Document version control facilitates timely editing and revisions while allowing improved team collaboration.

BoardBookit creates an ideal space for real-time version control and collaboration with the ability to automatically sync changes to meeting documents and agendas with all other users. With the syncing function, users always have the most up to date version of their meeting documents eliminating the need for frantic board book reprints before important meetings. 

Secure Communication

Flaws in an organization’s communication process can cause them to fall out of compliance. Communication best practices can often slide due to complacency or a lack of awareness. Stress the importance of secure communication methods for all communication levels. For sensitive information, it can be essential to avoid less secure communication methods such as email. Secure communication can prevent data leaks or breaches of private information. 

By consolidating board best practices and communication tools, BoardBookit has created a space to protect our users’ cybersecurity without impeding their productivity or connection. With direct messaging and secure discussions, BoardBookit promotes communication policy compliance within your organization. 

Audit Trails

More and more people have become comfortable working in a digital environment and managing paperless processes. With the world having transitioned to a much more digital space, audits have also gone digital. Digital audit teams require documentation of events such as signatures, votes, meetings, etc. This necessitates organizations to retain certain electronic records for the audits. The auditing process verifies that the data has been retained, hasn’t been modified, and is accessible within the organization’s system. 

Modern board portal software like BoardBookit understands this need for a documented audit trail and has built that into the platform. Utilizing the BoardBookit board portal allows organizations to record necessary document signatures, votes, and more right within the platform. 

Data Protection

Data protection is a wide-reaching and ever-present topic of conversation for organizations of all sizes. Organizations today are faced with a growing cybersecurity concern. Focusing on data protection in your organization can prevent breaches of sensitive information. “Data compliance is the practice of ensuring that sensitive data is organized and managed in such a way as to enable organizations to meet enterprise business rules along with legal and governmental regulations”, according to Reciprocity Labs. Failure to establish a robust data security policy can result in government regulators’ attention and even lawsuits related to data security. 

BoardBookit partners with organizations to support their governance processes with a strong focus on protecting and containing pertinent information. 

Tip: If you are updating your organization’s cybersecurity agreement, check out this free guide for the top five things to include! 

Moving to Governance Board Portal Software helps to mitigate compliance risks

The good news is that a robust and modern technology partner is available to support your efforts to mitigate these risks to your organizational compliance. BoardBookit provides collaboration methods that protect version control as well as communication tools to keep your conversations secure. Our board portal software breaks down silos and streamlines information and governance processes to improve your organization’s compliance levels. 

BoardBookit is built to help organizations to mitigate the governance and compliance risks inherent in governing highly regulated organizations. BoardBookit helps to improve governance to better ensure compliance and enhance decision-making.

Start a conversation today to see how BoardBookit board portal software can help your organization move towards more seamless compliance management. 

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