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Board Portal
{{no footnotes, date=April 2023 A board portal is collaborative software that allows board of directors to securely access board documents and collaborate with other board members electronically. History The passing of the Sarbanes-Oxley Act has placed significant legal and financial responsibility on the board of directors to ensure that they fulfill their fiduciary duty to stockholders and has driven many companies to increase the number of outside, independent directors on the board. Consequently, this has led to more frequent meetings, increased information review, and increased communications between meetings. The purpose of a board portal is to securely support board communications and board workflows. The "Read Receipt" of documents by the directors is often a legal record that external auditors require. Features A board portal can be a custom-built, in-house application, an off-the-shelf, commercial application that is deployed by IT, or a subscription-based, software ...
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Collaborative Software
Collaborative software or groupware is application software designed to help people working on a common task to attain their goals. One of the earliest definitions of groupware is "intentional group processes plus software to support them". As regards available interaction, collaborative software may be divided into: real-time collaborative editing platforms that allow multiple users to engage in live, simultaneous and reversible editing of a single file (usually a document), and version control (also known as revision control and source control) platforms, which allow separate users to make parallel edits to a file, while preserving every saved edit by every user as multiple files (that are variants of the original file). Collaborative software is a broad concept that overlaps considerably with computer-supported cooperative work (CSCW). According to Carstensen and Schmidt (1999) groupware is part of CSCW. The authors claim that CSCW, and thereby groupware, addresses "how colla ...
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Board Of Directors
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germ ...
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Fiduciary
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trust ...
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Workflows
A workflow consists of an orchestrated and repeatable pattern of activity, enabled by the systematic organization of resources into processes that transform materials, provide services, or process information. It can be depicted as a sequence of operations, the work of a person or group, the work of an organization of staff, or one or more simple or complex mechanisms. From a more abstract or higher-level perspective, workflow may be considered a view or representation of real work. The flow being described may refer to a document, service, or product that is being transferred from one step to another. Workflows may be viewed as one fundamental building block to be combined with other parts of an organization's structure such as information technology, teams, projects and hierarchies. Historical development The development of the concept of a workflow occurred above a series of loosely defined, overlapping eras. Beginnings in manufacturing The modern history of workflows ca ...
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Software As A Service
Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is considered to be part of cloud computing, along with infrastructure as a service (IaaS), platform as a service (PaaS), desktop as a service (DaaS), managed software as a service (MSaaS), mobile backend as a service (MBaaS), data center as a service (DCaaS), integration platform as a service (iPaaS), and information technology management as a service (ITMaaS). SaaS apps are typically accessed by users of a web browser (a thin client). SaaS became a common delivery model for many business applications, including office software, messaging software, payroll processing software, DBMS software, management software, CAD software, development software, gamification, virtualization, accounting, collaboration, customer relationship management (CR ...
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Two-factor Authentication
Multi-factor authentication (MFA; encompassing two-factor authentication, or 2FA, along with similar terms) is an electronic authentication method in which a user is granted access to a website or application only after successfully presenting two or more pieces of evidence (or factors) to an authentication mechanism: knowledge (something only the user knows), possession (something only the user has), and inherence (something only the user is). MFA protects user data—which may include personal identification or financial assets—from being accessed by an unauthorized third party that may have been able to discover, for example, a single password. A ''third-party authenticator'' (TPA) app enables two-factor authentication, usually by showing a randomly generated and frequently changing code to use for authentication. Factors Authentication takes place when someone tries to log into a computer resource (such as a network, device, or application). The resource requires the u ...
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Role-based Access Control
In computer systems security, role-based access control (RBAC) or role-based security is an approach to restricting system access to authorized users. It is an approach to implement mandatory access control (MAC) or discretionary access control (DAC). Role-based access control is a policy-neutral access-control mechanism defined around roles and privileges. The components of RBAC such as role-permissions, user-role and role-role relationships make it simple to perform user assignments. A study by NIST has demonstrated that RBAC addresses many needs of commercial and government organizations. RBAC can be used to facilitate administration of security in large organizations with hundreds of users and thousands of permissions. Although RBAC is different from MAC and DAC access control frameworks, it can enforce these policies without any complication. Design Within an organization, roles are created for various job functions. The permissions to perform certain operations are assign ...
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Encryption
In cryptography, encryption is the process of encoding information. This process converts the original representation of the information, known as plaintext, into an alternative form known as ciphertext. Ideally, only authorized parties can decipher a ciphertext back to plaintext and access the original information. Encryption does not itself prevent interference but denies the intelligible content to a would-be interceptor. For technical reasons, an encryption scheme usually uses a pseudo-random encryption key generated by an algorithm. It is possible to decrypt the message without possessing the key but, for a well-designed encryption scheme, considerable computational resources and skills are required. An authorized recipient can easily decrypt the message with the key provided by the originator to recipients but not to unauthorized users. Historically, various forms of encryption have been used to aid in cryptography. Early encryption techniques were often used in military ...
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