Board management software, also called a board portal is a secure application that allows company leaders to access and work with the board’s materials on their laptops, tablets or smartphones. It allows collaborative workflows and makes it easier for directors to look over and discuss documents before and after meetings. It also improves communication between board members and provides a better method of managing agendas for meetings, minutes, and notes.
Unlike free online file sharing services, which don’t have the latest security features and can cause sensitive data leaks, most quality board portals offer multiple layers of stringent cybersecurity protections. They also allow encrypted messaging and offer the option of virtual meetings using features such as page sync and shared annotation tools.
Another benefit of board management software is that it can reduce administrative workloads by automating tasks like creating and dispersing meeting packages, tracking action items, and sending reminder notifications. This can help companies save money and time while improving the quality of governance.
Evaluate a Board Management Tool
To ensure that you select the right board management tool, be sure to canvass the stakeholders need by asking for feedback and defining a clear list of goals that the tool must achieve. While you’re selecting a solution ensure that the tool you select supports your corporate strategy and is compatible with your existing digital transformation initiatives. Then, your company can gain the most value of your new board management software investment.