Board management software, also referred as a board portal, is a secure application that allows executives of companies to access and work with the board’s materials on their laptops, tablets or smartphones. It facilitates collaborative workflows, and lets directors review and discuss their files prior to and after meetings. It also facilitates the communication between board members and offers a more efficient method for managing agendas as well as minutes and notes.
Most board portals provide multiple layers of cybersecurity protections. This is in contrast to free online file-sharing services, which lack advanced security features. They can also cause sensitive data to be exposed. They also support encrypted messaging and provide the option of virtual meetings, using features like page sync and shared annotation tools.
Board management software also helps reduce administrative burdens through automated tasks such as assembly and distribution of meeting packages including tracking items of action and distributing notifications. This can help companies save time and money while enhancing the efficiency of meetings and governance.
Evaluation of a Board Management tool
To ensure you choose the appropriate tool for managing your board, be sure to canvass the stakeholders’ needs by asking for feedback and creating a clearly defined list of objectives that the tool should accomplish. During the selection process of the tool, make sure the tool you select is compatible with your corporate vision and works with your existing digital transformation initiatives. Your business will then be able to get the most value from the new software for managing boards.