Board management software, also referred as a board portal, is a secure application that allows executives of companies to access and work with board materials on their laptops, tablets, or smartphones. It allows collaborative workflows and allows directors to review and discuss their files prior to or during meetings. It also facilitates communication between board members and provides a more efficient method of managing meeting agendas, minutes, and notes.
Unlike free online file sharing services, which don’t have the latest security features and could lead to sensitive data leaks, most quality board portal solutions provide numerous layers of securing cybersecurity protections. They also provide encrypted messaging and the possibility of conducting virtual meetings by utilizing features like page synchronization and annotation tools shared with other users.
Board management software also helps reduce administrative burdens with automated tasks like assembly and distribution of meeting packages, tracking actions items and distributing notifications. This can help companies reduce time and costs while improving governance.
Evaluation of the Board Management tool
To ensure you choose the appropriate board management tool make sure you have a thorough survey of the stakeholders and their needs by soliciting feedback and making a detailed list of goals that the tool will achieve. During the product selection process be sure that the solution you choose is in line with your corporate strategy and is compatible with your current digital transformation plans. This way, your business will gain the most value of your new board management software investment.