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Board Management is a system which outlines how a firm's management team interacts with and manages its Board of Directors. By adhering to the best practices in composition, communication and governance, a company's board members are able to add value to the company's business.

The function of the role of a Board is to provide oversight and strategic direction as well as financial guidance, while leaving more managerial policy decisions to the management team. A functioning Board should be a trusted advisor to the company. The Board should ask the executives and the CEO important questions, promote transparency and trust, and improve non-financial metrics.

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While many free and user-friendly file sharing tools can be used for business use but they aren't designed to meet the needs of a data room. For instance, these programs don't have the same level of folder indexing & file organization tools that are required for due diligence and M&A purposes. They also do not have the same level of auditing capabilities, document watermarking or advanced user permissions that are necessary to safeguard sensitive business information.

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