1. Understanding your Board
Every board has a unique personality. Determine whether a board
portal (such as Directors Desk) is a good fit and whether the timing is right to introduce a board
portal solution. You can add it as a discussion topic during a board or
committee meeting to gauge their appetite for migrating to
paperless. Alternatively, you can run it by the Board Chair
informally to get his or her thoughts.
2. Approach and Requirements
Approach the process as selecting not a “vendor” but a strategic partner who will be with your organization for many
years. Board Portal providers are specialized and understand the unique and
high profile nature of their solutions within your organization. Ensure that
your partner is solvent and has the resources to support your growth.
Establish baseline requirements that are “must haves” for a board
portal. Rank them in order of highest to lowest priority.
3. Web or live demos
Set up web or live demos to be held by 3-4 providers, attended by
key stakeholders in your organization. You will likely want an in-person demo
if you would like to see and interact with the provider’s mobile solution.
4. Internal Sponsors
Discuss findings with internal stakeholders and widen the audience
to gain momentum and buy- in.
5. Additional demos
Set up additional demos for your organization to narrow down the
field to your top two selections.
6. Proof of Concept
Ask your top two potential providers to supply you with a
“sandbox” account for both their web and mobile applications. This will allow
you to get “into the weeds” and see how the tools can augment and or replace
your current processes.
7. Security Review
Bring in your Security Team to have a look at the Security of the
Application. Ensure they have all the baseline requirements for securing your
sensitive data. Most (like Directors Desk) do, but also ask about third party testing, Internal
Security Programs and their ongoing work to prevent cyber-attacks.
8. Pricing and Contract
Review (SLAs)
Review the pricing structure and determine whether there is enough
ROI to justify the cost. Is the cost structure simple and easy to follow or are
there a lot of “side costs” associated with implementing the solution?
Review the contracts and ensure they meet your legal requirements.
Ask about SLAs.
9. Implementation (Web and
Mobile)
Ensure this process is made easy and painless with the provider
carrying the bulk of the work. Ideally it should be a three step process:
-Account Build and Branding to ensure the portal comes across as
an extension of your primary website
-Administrative and Corporate Secretary Training. These usually
run 60-90 minutes; however providers will allocate as much time as needed
-Director and Executive Training. Typically last about 20 minutes
as this is more navigational in nature.
10. Deployment/The First
Meeting
By now, the Directors are aware that the portal has arrived as
they’ve been fully trained on their web and or mobile devices by the provider.
Step 1 – Breathe. The first meeting will not be perfect, but
proper planning and testing prior will make the transition as smooth as
possible.
Step 2 – Have IT in the room or standing by. Most
companies/Directors will want to replace their binders with iPads. Make sure IT
is on hand to handle any technical issues
Step 3 – Business as Usual. The focus should be on the
Agenda/Content of the Meeting. The solution is there to make the meeting more
efficient
Step 4 – Back up binders. In a worse-case scenario, technical
difficulties are hampering 1-2 Directors. Be prepared to provide a hard copy
binder to anyone having issues.
Step 5 – Close the meeting with an open discussion about the
technology and gather feedback.
11. Ongoing Pivots
The work is not done after the first meeting. There will
inevitably be pivots and other adjustments necessary to ensure the solution and
your internal processes are functioning in tandem. Conduct “post mortems” after
every meeting to see where suggestions can be made to the provider on how to
enhance the product/service as well as where the organization can tweak their
processes to make things go more smoothly.
To learn more about Directors Desk board portal, visit us at www.directorsdesk.com
Kevin Asuncion
Managing Director, Product Owner
NASDAQ OMX I Directors Desk
