Find stats on top websites
Industry Landscape
Total Assets Under Management (AUM)
in
~
( CAGR)
Total Addressable Market
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Driven Analytics
AI-driven analytics can provide predictive insights into board performance and potential risks, enabling proactive decision-making and improved governance.
Blockchain Technology
Blockchain technology enhances the security and transparency of board-related transactions and document management, reducing the risk of data breaches and fraud.
Cloud Computing
Cloud-based solutions offer scalable and secure platforms for board management, enabling seamless collaboration and accessibility from anywhere, enhancing efficiency and reducing IT overhead.
Impactful Policy Frameworks
SEC Cybersecurity Rule (2023)
The Securities and Exchange Commission (SEC) adopted new rules in 2023 to enhance cybersecurity risk management for public companies, requiring them to disclose material cybersecurity incidents and annually report on their cybersecurity risk management strategy.
Increased scrutiny requires Board Director to enhance security features and compliance tools within its platform to protect sensitive board data.
California Consumer Privacy Act (CCPA) & California Privacy Rights Act (CPRA)
The CCPA, amended by the CPRA, grants California consumers broad rights over their personal data, including the right to access, delete, and opt-out of the sale of their personal information; it imposes significant compliance obligations on businesses operating in California since 2020 and was amended in 2023 (CPRA). This legislation has nationwide implications due to the size of California's economy and population and was further amended in 2023 via the CPRA (California Privacy Rights Act). Many other states are following suit and have or will pass similar legislation in the coming years. It is the de facto standard in the US right now, as of 2024/2025.
These regulations will require Board Director to ensure its platform adheres to stringent data protection standards, impacting how it stores, processes, and transfers personal data of board members and other users.
Sarbanes-Oxley Act (SOX) Compliance Updates
The Sarbanes-Oxley Act (SOX) of 2002 was enacted to protect investors from fraudulent accounting practices by corporations. It sets strict standards for financial record-keeping and requires companies to establish internal controls and procedures. While not new, continued enforcement and updates to compliance standards impact board governance tools. Specifically Section 404 which focuses on internal controls.
The updated guidelines mandate that Board Director's platform offers features supporting transparency and ethical decision-making within board operations.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
