Thomson Reuters Governance, Risk and Compliance, announced today that it is launching BoardLink, a secure portal for the online exchange and execution of board business, such as compiling and sharing board books, to companies in Europe, the Middle East and Africa.
Companies around the globe face increasing challenges when it comes to handling sensitive data, particularly in an area which is overlooked by too many businesses – the boardroom.
“Working and managing a highly mobile and global board is one of the biggest challenges facing a modern company,” says David Craig, president of Thomson Reuters Governance, Risk and Compliance. “Some of the most trusted members of a company – the board members – are proving to be the biggest challenge simply because they deal with so many sensitive documents.” Craig says the situation can be further complicated with many board members serving on multiple boards which can operate across several countries.
BoardLink, which already is helping leading corporations in the United States and Canada handle their data safely, is available via a secure website or as an iPad App. It improves information flow between companies and directors by offering a simplified, secure work environment.
“Forms of data that are difficult to share securely, such as paper or unsecured digital media, need to become a thing of the past. The solution to the problem is to ensure documents and other information are passed to the right people with the greatest security possible,” says Craig.
BoardLink, which is available as part of the Thomson Reuters Accelus suite of products, uses its own secure servers which exist outside of any individual company. It adds multiple layers of state-of-the-art security, including RSA password encryption technology, to help ensure that information is only accessible by its intended recipients. This way, even if a mobile device is lost or stolen, it could not be used to access any secure BoardLink-managed information. When documents are viewed offline they also are protected by a series of “time locks” which make them accessible only for a limited period.
Knowing that sensitive material is secure does more than simply provide companies with peace of mind. According to Craig, members of boards are increasingly the focus of regulators who recognise the data security risks associated with the role of board member. There also is growing pressure on board members to show they are providing guidance and direction on good governance and setting ethical standards. Keeping sensitive data secure is one major aspect of this accountability.
“The pace of regulatory change is accelerating and the volume of sensitive, business-critical documents which companies produce is growing on a daily basis,” says Craig. “Business must be prepared to invest in the very best technology to reduce risks.”