Boardroom Evolution: Embracing Virtual Board Portals for Modern Governance

In the fast-paced world of business, staying ahead of the curve is crucial. One significant shift in corporate governance, as it mentioned in, is the adoption of virtual board portals. This transformation is driven by the need for efficiency, security, and inclusivity. In this article, we’ll explore the key aspects of this evolution and how it benefits modern governance.

Embracing Digital Transformation

Digital transformation is revolutionizing how boards operate. The move towards digital governance, boardroom digitization, and paperless meetings is enhancing the efficiency and effectiveness of board operations. Here’s a closer look at how this digital shift is reshaping boardrooms:

  • Digital Governance. Digital governance is about leveraging technology to enhance board operations. By digitizing board activities, companies can streamline processes, reduce costs, and improve decision-making.
  • Boardroom Digitization. Boardroom digitization involves transitioning from traditional paper-based meetings to digital formats. This shift not only saves time and resources but also ensures that information is easily accessible and secure.
  • Paperless Board Meetings. Paperless board meetings are a cornerstone of digital governance. They eliminate the need for physical documents, making it easier to manage, share, and review materials. This approach also supports environmental sustainability.

By embracing digital transformation, boards are better equipped to handle the complexities of modern governance. This shift not only enhances operational efficiency but also supports a more secure and environmentally friendly approach to board management.

Adapting to Remote Work Trends

The rise of remote work has fundamentally changed how businesses operate, including at the board level. Adapting to these trends is essential for maintaining effective governance. Virtual board portals provide the tools necessary to support remote work environments, ensuring that board activities continue seamlessly.

  • Remote Board Meetings. The rise of remote work has made remote board meetings essential. Virtual boardroom solutions enable members to participate from anywhere, ensuring that geographical barriers do not hinder board functions.
  • Virtual Boardroom Solutions. Virtual boardroom solutions provide a secure and efficient platform for conducting meetings. These solutions offer features like video conferencing, document sharing, and real-time collaboration, enhancing the overall meeting experience.
  • Distributed Workforce. With a distributed workforce becoming more common, virtual board portals support seamless communication and collaboration among board members, regardless of their location.

New study looks at pros and cons of remote work

Adapting to remote work trends ensures that boards can function effectively in a distributed environment. By leveraging virtual boardroom solutions, companies can maintain high levels of engagement and collaboration among board members, regardless of where they are located. This adaptability is crucial for modern governance and helps businesses navigate the challenges of a remote work landscape.

Improving Accessibility

In the modern business environment, accessibility is key to effective governance. Virtual board portals are designed to provide easy access to essential documents and meetings, no matter where board members are located. This ensures that all members can stay informed and engaged.

  • Remote Access Solutions. Remote access solutions are vital for modern governance. They allow board members to access necessary documents and participate in meetings from any device, enhancing flexibility and responsiveness.
  • Anytime-Anywhere Access. Anytime-anywhere access ensures that board members can stay connected and informed, even when they are on the go. Mobile board portals are particularly useful in this regard, offering the convenience of accessing board materials from smartphones or tablets.
  • Mobile Board Portals. Mobile board portals provide a user-friendly interface that simplifies accessing and managing board documents. This feature is especially beneficial for busy executives who need to stay informed while traveling.

By improving accessibility, virtual board portals ensure that all board members can actively participate in governance activities. This leads to more informed decision-making and a more cohesive board dynamic, ultimately benefiting the organization as a whole.

Enhancing Board Diversity and Inclusion

Diversity and inclusion are critical components of modern governance. Virtual board portals play a significant role in promoting these values by making it easier to involve a broader range of perspectives.

  • Diverse Board Membership. Diverse board membership brings a range of perspectives and ideas to the table, which can lead to better decision-making and innovation. Virtual board portals make it easier to include members from diverse backgrounds and locations.
  • Inclusive Governance Practices. Inclusive governance practices ensure that all voices are heard and valued. By leveraging digital tools, boards can facilitate more inclusive discussions and decision-making processes.
  • Board Diversity Initiatives. Board diversity initiatives are crucial for fostering an inclusive culture. Virtual board portals support these initiatives by providing equal access to information and opportunities for all members.

Enhancing board diversity and inclusion through virtual board portals not only strengthens the board’s decision-making capabilities but also reflects a commitment to fairness and equality. This inclusive approach helps organizations better understand and serve their stakeholders, ultimately leading to greater success.

Addressing Technological Challenges

While the benefits of virtual board portals are clear, adopting new technology comes with its own set of challenges. Addressing these challenges is essential for successful implementation and operation.

  • Technology Adoption. Adopting new technology can be challenging, but it’s essential for staying competitive. Boards must be proactive in embracing digital boardroom solutions to enhance their operations.
  • Boardroom Technology. Boardroom technology, such as virtual portals and remote meeting technologies, plays a crucial role in modern governance. It helps streamline processes, improve communication, and ensure data security.
  • IT Infrastructure. A robust IT infrastructure is necessary to support the technology adoption in boardrooms. Investing in the right tools and systems ensures smooth and efficient board operations.

Addressing these technological challenges requires a strategic approach. By investing in the right technology and infrastructure, boards can overcome obstacles and fully leverage the benefits of virtual board portals. This proactive stance ensures that boards remain effective and competitive in an increasingly digital world.


The evolution of boardrooms into virtual spaces marks a significant advancement in corporate governance. Embracing digital transformation, adapting to remote work trends, improving accessibility, enhancing board diversity, and addressing technological challenges are all essential steps in this journey. By leveraging these advancements, boards can operate more efficiently, inclusively, and securely, ultimately leading to better governance and organizational success.

By considering these aspects, boards can navigate the complexities of modern governance and stay ahead in a rapidly changing business environment. Embracing virtual board portals is not just a trend but a strategic move towards a more efficient, inclusive, and secure future.

Efficient Online M&A Transaction Management: Streamlining the Deal Process

The digital data rooms automate all processes of M&A contractual activity and, thereby, provide quick access to the necessary operational and analytical information on contracts. This article will reveal the main software features that help to streamline the deal process.

The M&A data room software – the modern and practical business solution

Effective M&A transaction management affects the competitiveness of the organization and its image. Any leader understands that the information contained in the documents should generate income. Automation of contract management reveals the best option for the organization, regulates the ongoing processes of approval and signing, and allows you to implement technical solutions. The manager should be able to analyze both one contract and a portfolio of contracts in the context of counterparties and activities of the organization.

The main problems in M&A management are:

  • delays in agreeing to contracts,
  • loss of documents in the process of transfer between departments and storage,
  • violation of deadlines and stages of execution,
  • threatening fines and penalties.

Preparation of contracts, negotiations, meetings, and calls are tracked in CRM systems. Coordination and approval – in document management systems. Registration and settlements – in accounting systems. Procurement and budget planning for the execution of contracts – in management accounting systems. Scheduling performers – in project management systems. It turns out that the manager does not have a complete picture of contracts, obligations, and settlements on transactions. To change this situation, IT specialists have developed a virtual data room that allows you to automate all stages of work with contracts, thereby making it possible to control and analyze contractual activities in all aspects. It helps companies avoid losses caused by non-systematic work with contracts, scattered storage of documents, and the lack of complete and up-to-date information. The main idea behind the data room software is that you focus on the business itself, and the rest of the responsibilities are taken over by the cloud service provider, guaranteeing rapid growth for your organization.

The data room benefits for a seamless M&A deal process

According to, virtual data room platforms provide many valuable advantages:

  • Simplified document preparation system. The presence of ready-made templates and auto-completion of previously entered details allows you to choose the suitable template for the counterparty, automatically fill in the details, assign a number, and quickly draw up an agreement and related documents.
  • Automatic reminders. The system allows you to control the timing of the approval of documents, the status of their execution, and the need to prolong the document or draw up a new one. The user will receive important email alerts.
  • Easy online meetings. In the program, you can create events and manage them. The time for preparing and holding an event is reduced, and coordination is simplified. The event’s card displays all its participants; for some participants, it is possible to mark mandatory attendance. You can automatically set up invitations for all participants and monitor the status of the invitation.
  • Easy search. You can search and sort the contracts according to deadlines, terms, and other factors. A search is also integrated, making finding contracts with a specific company or service possible. Such functions are particularly useful in growing companies with many contracts. The number of contractual relationships is increasing rapidly, especially in the modern corporate environment, where a lot is done through outsourcing and services.

Ensuring Safe Document Disposal – 3 Steps

When it comes to document management, ensuring safe and secure disposal of sensitive information is just as important as protecting it during its useful life. Improper document disposal can lead to data breaches, identity theft, and legal consequences. In this article, we will outline three essential steps to ensure the safe disposal of documents containing sensitive information.

Step 1: Identify Sensitive Documents

The first step in safe document disposal is to identify which documents contain sensitive information. This includes any documents that contain personally identifiable information (PII), financial data, legal or medical information, or any other confidential data that could pose a risk if it falls into the wrong hands. Take the time to conduct a thorough inventory of your documents and classify them based on their sensitivity.

Step 2: Implement Document Destruction Methods

Once you have identified the sensitive documents, the next step is to implement proper document destruction methods. There are several options to consider:

  • Shredding: Shredding is one of the most common and effective methods of document disposal. Invest in a reliable shredder or hire a professional shredding service. Ensure that the shredding process is thorough and that the shredded documents are securely disposed of.
  • Digital Destruction: If you have electronic documents or files, deleting them is not sufficient. Implement secure methods of digital destruction, such as using data erasure software that permanently deletes the files and overwrites them to prevent recovery.
  • Secure Document Disposal Services: In some cases, outsourcing the document disposal process to a reputable document destruction service is the best option. These services specialize in the secure and compliant destruction of sensitive documents, ensuring that all materials are properly disposed of.

Step 3: Establish Document Disposal Policies

To ensure consistency and compliance, it is essential to establish document disposal policies within your organization. These policies should outline the steps for identifying sensitive documents, the approved methods of document destruction, and any legal or regulatory requirements that need to be followed. Train your employees on these policies and regularly reinforce the importance of safe document disposal practices.

By following these three steps, you can significantly reduce the risk of unauthorized access to sensitive information and mitigate the potential consequences of improper document disposal.

Ensuring safe document disposal is crucial for protecting sensitive information and mitigating the risk of data breaches. Follow these three essential steps: identify sensitive documents, implement secure document destruction methods like shredding or digital destruction, and establish document disposal policies. By prioritizing proper document disposal practices, you can safeguard sensitive information and minimize the risk of unauthorized access or data breaches.

Data room set up process for business needs

The virtual data room is the best option for your company. What’s more, it’s a complete business data management software that handles everything from tasks to document management and proper communication tools.

Face Your Business Needs with the VDR Provider

Documents containing valuable information are part of the company’s information resources, which can be: a) open (available for personnel to work without special permission) and b) restricted for personnel access to them (classified as one of the types of secrets – state or non-state). Documents containing information that constitutes a non-state secret (official, commercial, banking, company secret, etc.) or contains personal data are called confidential. Banal depersonalization will no longer work: hashing is used in several stages, indicators are replaced with random ones, and then the cascade matching of bases occurs with the impossibility of rehashing within the platform.

The virtual data room business software assists the auditor in the risk assessment and audit plan development process, enhancing the auditor’s individual professional experience, and maintaining the integrity and consistency of information, and dynamically modifies the audit planning process. The data itself remains only with its owners. Basically, such processes are implemented by internal resources with the help of local developments.

The data room products provide the ability to log all events occurring in the system. In addition, it is possible to log the parameters of stamped copy print jobs in an amount sufficient to identify the print time and the user who sent the job. The results of the logging are displayed in the results of the examination procedure, which allows the system to generate readable attributes of the copy: the author of the copy, the date and time of receipt, and the name or address of the printing device.

The Process of Setting Up the Virtual Data Room Provider

It is no secret that hacker attacks can lead to significant financial losses. Currently, along with changes in hacker attacks, VDR software developers are trying to improve their protection systems. In solving the problem of ensuring confidentiality, the consultant has an undeniable advantage since, firstly, he is a party neutral in relation to the business, which does not cause direct association with the company; secondly, he knows in detail how to optimally organize the process of information exchange and build a sequence of data disclosure.

The use of the VDR facilitation tools and techniques contributes to the emergence of a synergistic effect in the team, increases the involvement of each participant in the process, and reveals its potential. The most important steps to follow for data room set up are:

  • Choose a data room that fits your needs.
  • Figure out which data rooms should be used at what stage.
  • Follow the due diligence checklist.
  • Create and organize the data room with a file structure.

That is why it is very important to observe, on the one hand, the basic principles of cyber hygiene and on the other hand, to implement advanced cyber security systems, assessing the risks of loss of critical information. We emphasize once again – it is worth thinking once more about the expediency of reporting your personal data in order to protect yourself from possible negative consequences, including the disclosure of personal data to third parties, and the possibility of their further distribution, including uncontrolled.

How To Prevent Data Corruption In Master Files Using Top Data Room Providers

Virtual data rooms, according to many users around the world, have become the best solution for company work. With their help, it is possible not only to establish an effective work process even in conditions of remote work, but also to optimize basic work operations, thus saving valuable working time and resources. At the same time, the use of virtual data room tools provides not only high speed and productivity of the company’s work, but also protection of its corporate data and assets. It’s worth noting that data room security mechanisms can be used either as a package or individually, although most of them come into play as soon as a user logs into the data room. Find out how to protect corporate data with the help of data room security features in our article.

Basic ways to protect corporate documents

Virtual data room options by themselves are not useful because they require user participation to activate them. In addition, the effectiveness of virtual rooms depends directly on how the workflow is organized within the company and how the data rooms are tailored to perform work operations. Since the bulk of the work involves working with documents in one way or another, regardless of the specific nature of the company’s business, many users are interested in ensuring that virtual data room tools provide document protection while working with them. This can be achieved in several ways:

  • Organize an effective search system within the corporate repository, taking into account the characteristics of documents, their name, size, purpose and other characteristics;
  • Organize document storage into several tiers, which allows you to store the most sensitive data outside the company – in cloud storages;
  • Allocate usage rights among user accounts, so that each user has the right to perform only a limited number of actions with the documents.

In addition, damage to corporate files can be prevented by leveraging virtual data room security mechanisms – such as encryption systems, backups, multi-stage access, and more.

Data protection tools that are available to virtual data room users

There are several protection tools that are available to users of virtual data rooms:

  1. Multi-stage access. In order to gain access directly to the data room, you have to go through multiple stages of authentication, not just a login and password. This is necessary to provide protection in case the password and access are lost in any way.
  2. Encryption systems. All actions performed by users in the virtual data room are logged in the activity logs, and all information about the actions performed is instantly encrypted so that information about them does not fall into the wrong hands.
  3. Limited number of users. Typically virtual data rooms are designed for a limited number of users and those users must have a registered account with the virtual data room system.

Many top data room providers go to great lengths to ensure maximum protection of their customers’ data. But achieving the necessary level of protection of such data is impossible without proper efforts on the part of the users, which manifests itself in the organization of workflow and use of data room options. It is also necessary to remember that virtual data rooms are quite easy to adapt to the individual needs of each company, including the organization of basic data storage.

How to Structure a Data Room for M&A Transaction?

Research into the effectiveness of mergers and acquisitions in the data room sector remains one of the topical topics in academic papers in recent years.

Evaluating the M&A Transactions

Evaluating the effects of M&A transactions and identifying the factors affecting their effectiveness are necessary to improve the quality of financial justification for M&A strategies and the growth of company value as a result of M&A. Much of the existing research is devoted to the study of the impact of transactions on the value of companies in the financial sector.

The globalization of capital markets, the development of technologies, deregulation of banking activities, increased competition, increased control over credit institutions and the creation of a single financial market in the European Union contribute to the consolidation of the banking market, an increase in the number and volume of mergers and acquisitions, and the creation of international financial companies in both developed and in emerging capital markets.

Recent events will not drastically change this reality and in fact, they may even hasten its advance. In addition, the double shock of supply and demand that is currently being observed in the sector is likely to serve as a catalyst for radical changes in the geography of production. These global and long-term dynamics are important aspects that cannot be ignored. However, we believe that in the short term, oil and gas leaders should not miss the opportunity to consolidate upstream companies in North America and enter into other deals, which became possible due to the current situation with a double shock of supply and demand. And it’s important to remember that time is precious.

The Best Way to Structure a Data Room for M&A Transaction

The virtual data room is what will help you to quickly exchange documents with business partners. Nowadays, when everything is changing very quickly, it is necessary for every enterprise, regardless of the industry. You will have more time, and the savings you can spend on working with new clients. All paperwork will be much faster and easier and more convenient.

Unique circumstances create unique opportunities for creating the best way to structure a data room for M&A transactions:

  1. In difficult times, new opportunities for structural change may emerge, and successful companies will emerge from the crisis by improving their position.
  2. Given the current dynamics of the market, some consolidation next year is inevitable and more than likely to occur through three types of mergers and acquisitions.
  3. Situation-driven consolidation of mining companies in order to obtain strategic value through potential acquisitions and mergers.
  4. Development of activities of financial companies to attract investor activists; and renewed interest in structural change and segment consolidation.
  5. Leaders need to take advantage of this extremely rare coincidence of events to assess potential acquisitions, re-evaluate portfolios, and carefully analyze the foundations of their own operations and the industry as a whole.

The growth in M&A activity in the financial sector in recent decades has contributed to an increase in the number of studies examining the effectiveness of these transactions and the factors that determine the success of mergers and acquisitions. In contrast to existing academic papers focusing mainly on the effects of deals on data from US and European Union companies, we present the results of an assessment of the impact of mergers and acquisitions on the value of acquirers from the fast-growing BRICS markets.

How Much Should a Virtual Data Room Cost?

Note that when using any data room service, the user needs to make sure that the supplier uses technology that meets international standards.

Virtual Data Room Implementation Stages and Information Technology

In a piece of information and technologized society, the production and consumption of information is the most important activity; the importance of the information component in the structure of resource provision in various spheres of human activity is growing; information technology and technology determine the progressive development of production and social processes; the information environment, along with social and environmental, is becoming a new human habitat.

Information technologies play a decisive role in ensuring information interaction between people; are the technological foundation for the intellectualization of society, the development of the education system and culture, play a key role in the processes of obtaining and accumulating new knowledge. Thus, with a competent approach to protecting a project, its initiator should have a clear, agreed vision of what problems the company plans to solve, what functions are needed for this, what additional work will have to be done, and what time and money will be needed for this. All this information should go into the project rationale. The scope of the project at this stage should be as specific and targeted as possible.

The low level of elaboration of the issue of assessing the effectiveness of data room transactions in the financial sector in emerging capital markets necessitates the further study of the impact of mergers and acquisitions on the value of companies, as well as identifying the factors of value creation and destruction. As factors influencing the efficiency of mergers and acquisitions in the financial sector, the scientific literature most often singles out: method of payment, friendliness of transactions, initiation of mergers and acquisitions by the state, existing experience in conducting transactions with the buying company, the size of the buying company, the ratio of returns equity capital or assets of companies participating in the transaction.

What Does Virtual Data Room Price Depend from?

The price for a virtual data room cost consists of the following components:

  1. From the customer loyalty index;
  2. Purchases on the recommendation of clients;
  3. The number of customers who left;
  4. Share of sales for old customers; the value of a loyal customer;
  5. The indicators of customer loyalty over a certain period of time are the volume of revenue and the customer loyalty index.

When choosing a virtual data room, the network perimeter is blurred or completely disappears. Thus, the overall security level of a network is determined by its least secured part. VMs must provide themselves with security in the process of delineating segments with different levels of trust in the cloud environment. This moves the network perimeter towards the virtual machine itself. It is worth remembering that a corporate firewall has no ability to influence servers located in the cloud.

Reduction of time for administrative work due to virtual data room:

  • Customer Relationship Management.
  • Manage calendar and list of phone numbers.
  • Automatic creation of offers and contracts.
  • Management of potential deals/prospectuses.
  • Simplified reporting generation (sales commissions, forecasts, potential customers).

The virtual data room system offers an online recording service, an electronic journal, maintaining a customer base, automatic notification, statistics and analytics, warehouse and financial accounting, payroll accounting. There is a test mode. There is a possibility of integration with maps, telephony, online cash registers, and analytics services. Easy to implement. It is not possible to select the system individually for the needs of the client.

Pros and Cons of Cloud Computing

With the development of the global network and the growth of the amount of data that needs to be stored, processed, and transmitted, it became necessary to perform existing tasks.

The Technology of Cloud Computing

Under cloud computing is usually understood as providing the user with computer resources and capacities in the form of Internet service. Thus, computing resources are provided to the user in a “pure” form, and the user may not know which computers are processing his requests, which operating system is under control of this, and so on. By cloud technologies we mean a model of a system of procedures that provide a targeted change in material and ideal (virtual) objects.

Clouds are often compared to mainframes, finding much in common between them. The fundamental difference between a cloud and a mainframe is that its computing power is theoretically unlimited. The second fundamental difference is that simply put, mainframe terminals served only for interactive user interaction with a task launched for processing. In the cloud, the terminal itself is a powerful computing device, capable not only of accumulating intermediate information but also directly managing the global system of computing resources.

This technology is used to solve scientific and mathematical problems that require significant computing resources. It is known that grid computing is also used for commercial purposes. For example, they perform some of the laborious tasks associated with economic forecasting, seismic data analysis, and the development and study of the properties of vaccines and new drugs. Indeed, grid computing and the cloud have many similarities in architecture and principles. However, the cloud computing model is considered more promising today due to a much more flexible platform for working with remote computing resources.

The Main Advantages and Disadvantages of Cloud Computing

Cloud computing can be deployed directly to the cloud using vendor-supported tools as well as programming languages. At this level, there is no possibility of managing the infrastructure, but only deployed applications, as well as, within certain limits, the configurations of the application-hosting environment. The main advantages of cloud computing are:

  1. Cloud computing, in addition to the existing security requirements that were present in data processing centers, have their own specifics.
  2. Self-service is the ability for consumers to order additional resources automatically using the control system (without interacting with the provider’s support service).
  3. Wide network access is the ability to access resources through standard network protocols for a wide range of devices (smartphones, tablets, desktop computers).
  4. A new type of threat has become accessible through the global network to the management of computing power.
  5. Use identical applications and operating systems. There is a high risk of remote hacking or virus infection.
  6. Pooling (pooling) of resources dynamic allocation of the provider’s equipment capacity to serve the actual needs of consumers. Transparency of resource allocation for customers (with the possibility of high-level specifications, for example, country and information center where the application is hosted).

The main disadvantages of cloud computing are:

  1. The transparency of data changes and the differentiation of access control at the system level is considered one of the most important security criteria.
  2. Cloning and migration between physical servers of virtual machines, their stop or restart are carried out in a short time. This property negatively affects the development of an integrated security system.
  3. This threat is removed by implementing a security system not only inside each VM but also at the hypervisor level.