As in most cases, the use of board management software promises a lot of advantages. It all depends on the type of your business, the number of administrative staff, the number of departments, and the need to generate new ideas. Fortunately, board portal software is suitable for most types of businesses and frameworks. It is essentially a multi-tool for generating administrative decisions, securely managing board documents, and collaborating on significant information.
What features are available
Board management software may differ from another in functionality. But there is a common group of features that should be present in every single one:
Scheduling tools. This is a collection of tools that are needed to coordinate board members. Usually include visual tools like a calendar and simple functions like sending emails about the beginning of an online board meeting.
Virtual Rooms. These tools are essential for creating online conferences. This can be used for board meetings. This bundle of tools also includes access control and permissions.
Document Management. Allows you to download and selectively share documents that are used during board meetings. It provides better security than common alternatives like sharing documents via messengers or email.
Compatibility with smartphones. Typically, any board portal also provides access to official iOS or Android apps to control workflows remotely.
Directory of Board Members. It is a directory with excessive information about each board member. It mentions his or her position, contact information, and even a biography. Sometimes it is associated with a scheduling toolkit for increased usability.
Security. Encryption of documents and all kinds of communications, secured document storage, and virtual data rooms. Together these features provide privacy, and security measures against possible cyber-attacks and meet various ISO security standards and government regulations.
These are the most important ones for work.
Just forget about paper. It won’t be needed.
It really is! One of the most tangible benefits is the paperless meeting solution. Paperwork will now be just as unnecessary as useless email messages. If you want to come to a certain decision, you will need to use a user-friendly interface, where everything is already there.
Most of the large virtual board software has the ability to verify documents with a digital signature and requires this digital signature from others. This is a genuinely useful solution for businesses of any size, as you don’t have to wait for someone to sort through a stack of papers and get the approval of an idea.
A few questions to ask before you make a purchase of Board Portal
These questions will help you a little bit in choosing a good virtual boardroom service provider for the greatest efficiency in your work:
Usability. Is the board portal easy to use and is there training available? If the app you choose is not easy to configure and use, it is not only a waste of corporate money but also valuable time. Check with which devices it is possible to work with the selected application. Are iOS and Android available? You should also check the availability of technical support. It would be wonderful if it is available 24 hours a day. Be sure it’s easy to read the announcements and the attached content. It should be just as easy to take notes during meetings as it is on paper. The board e-book should be as simple as the archaic paper one, but it should also contain modern features. The right vendor will always offer training to help users get up to speed quickly and start using the app as efficiently and quickly as possible. It’s the right approach to the app itself that makes using it simplifies business processes.
Board management. Will this software improve your board governance and efficiency? A good portal offers complete solutions to enhance corporate governance and increase efficiency. The tool variability ranges from browsing and signing documents to the possibility of voting on issues and sharing notes with colleagues. In other words, apps with governance-focused features can help the board collaborate both productively and securely. The availability of a tool that allows the board to collaborate outside of meetings will also simplify workflows. The ability to rate a suggestion is wonderful and indicates approval or rejection in a straightforward way. The vendor should also be aware of the laws of the country where you operate your business. The right solution for many organizations is a comprehensive corporate governance solution.
Functionality. What kind of features are available? It’s time-consuming to prepare for a board meeting. Documents tend to be updated and it’s complicated for board members to keep track of changes and take notes efficiently. You should log in from the device you are comfortable with and be notified in real-time of any changes to the board book. Whether to share your notes with others is another important feature. The basic functionality seems simple, but may not be offered by a potential vendor.
You really have to consider the pros and cons before choosing a vendor. Otherwise, the system will not be as efficient as it can be for your business.