In an era of high profile data breaches and prominent hacking scandals, organizations of all sizes are being forced to confront the everyday risk of cybercrime, and these concerns are especially acute for organizations that have a responsibility to the broader public as part of their corporate mandate. A private company stands to lose customers and market share if it is careless with sensitive information, but Crown agencies that are compromised by cybercrime must answer to the Canadian people. For this reason, they have an even greater responsibility to take every precaution around data security.
While Crown agencies, like most responsible organizations, have some measures in place to keep internal communications secure, one of the greatest risks to data safety actually lies with information sharing at the very top, with members of the board of directors. Not only are board members required to regularly review and discuss a large volume of potentially sensitive documents, they may not be covered by the same security measures as regular staff, or understand just how risky it is to share documents through unsecured channels like email. They may also not understand the many ways hackers have of getting around even relatively secure encrypted document receptacles like Dropbox.
All of this means that Crown agencies need to take special care that their board members are playing their part in fighting cybercrime and keeping their organization’s data secure. Fortunately, tools have been developed that can do just that. Board management software (or board portal software, as it is sometimes called) provides a secure channel for board members to receive documents, share memos, and have discussions about the information they are processing. Because board portals are protected using cutting-edge cybersecurity, the safety and integrity of the board’s documents are guaranteed.
If you are interested in learning more about how board portal software can help your Crown agency board, you can learn more at Aprio — as a Vancouver-based company, Aprio understands the particular needs of Crown corporations, and has a proven track record with some of the most reputable agencies in Canada. It also provides flexible options that are designed to make their portal software as user-friendly as possible.
The Aprio portal can be accessed through desktop or mobile device, which facilitates the easy transfer of documents anywhere in the world. The app also allows board members to take part in discussions with their fellow directors, manage agency expenses, and switch seamlessly between agenda and materials (which makes it useful both before and during the meeting). Not only does board portal software make communications more secure, it also makes them easier — and if your board is reluctant to adopt new technology, providers like Aprio also offer one-on-one executive training to make sure board members are comfortable with it.
Last year, the 12th annual Cost of Data Breach Study conducted by the Ponemon Institute found that the average cost, globally, for data breaches in 2017 was $3.62 million — which translates to $141 per lost or stolen record containing sensitive information. The financial impact of cybercrime is sobering, but for organizations like Crown agencies that rely on public trust, they are devastating. Don’t take chances with sensitive information; modern problems like cybercrime require modern solutions, and portal software is one of the best options available.