Pro Tips

Board Privacy vs Transparency: Keeping the Balance

When a process is hidden from outsiders, everyone wants to know as much as possible about the details. This is more relevant than ever in the business of large (and not so) companies. Especially after the crisis at the beginning of the 2000s, people began to pay more attention to the affairs of company management. Therefore, modern managers have to balance the privacy of processes and transparency.

How to achieve transparency and confidentiality at the same time?

Working with unique management portals helps to balance transparency and confidentiality. These are programs where the board of the company and all employees gather. Then, depending on the level of access, company employees can see specific data and participate in different projects.

Privacy in business projects

Previously, most management processes took place behind closed doors. Ordinary employees and clients of the company did not know what issues were being discussed and what decisions were made. Now it is customary to talk about all this, as well as about current projects. However, there are still data that require minimal disclosure.

It is convenient to create closed groups using the software to do this. Another implementation option is a closed project, on which a limited number of people work. The classic examples are financial departments (they work with data on customer money and accounts, which should not fall into third parties). Managers solve all issues in such projects in chat rooms or at tête-à-tête meetings.

What is business transparency

Transparency of business processes is one of the professional terms you come across on any business software solution site. We are not talking about security cameras or remote desktop control but available information that creates a complete picture of everything in the company.

Transparency improves company profitability

Transparency can be achieved using unique platforms for managing teams or entire companies. Today, couples can find customer data or information without rummaging through endless emails, holding unnecessary meetings, or waiting for responses to a submitted request.

Picking the Right Tools to Increase Transparency

You won’t get more transparency by saying you want to know how things work. To do this, you need the right tool with the right capabilities. When choosing such a tool, pay attention to the following features:

  • Taskbars. They allow you to capture all the essential data at a glance.
  • Reports. Regular automated reports on team performance, status, and other aspects of project execution.
  • Workload schedule. Allows you to check the workload level of an individual member or the entire team.
  • Resource management. Helps allocate team resources (both physical and financial).

These tools include programs such as BoardBookit, Nasdaq, Boardable, BoardMaps, iDeals, Govenda, BoardPaq, and Azeus Convene. They have helped to achieve excellent results when launching projects and supporting large businesses more than once.