Huge corporations use a plethora of tools to manage, organize and protect their data. Several of the tools and software used are more significant and play a key role in managing projects. Board portal software is one such software that is rapidly gaining popularity and is starting to be adopted by other enterprises.
Huge corporations use a plethora of tools to manage, organize and protect their data. Several of the tools and software used are more significant and play a key role in managing projects. Board portal software is one such software that is rapidly gaining popularity and is starting to be adopted by other enterprises.
So, what is board portal software, and how should you choose one?
Board portal software is a pivotal tool that is designed to make corporate governance procedures run more smoothly.
In other words, board portal software is conveniently created to let board members effortlessly and swiftly prepare for and conduct board meetings.
Some of the ubiquitous features that can be found in board portal software are:
Until the advent of the board portal, board meeting processes were carried out using massive stacks of paper. Since the paper procedure was not only unreliable but also computationally intensive, corporations are shifting to board portal software.
Earlier, we told you that board portal software is essential for managing and coordinating board meetings, as well as making it easier for board members to manage their onerous responsibilities.
Given how advantageous it is, you will most likely purchase one. However, if you search for ‘board portal software,’ you will almost certainly be inundated with options, and deciding which one to use and picking the best board portal is not a simple task.
However, we can assist you with that.
Though the goal of every board portal software is to make meeting management easier for their clients, not all of them have the essential capabilities. So, let’s have a look at the main aspects to watch for when selecting board portal software.
Since the primary objective of the board portal is to arrange and manage meetings, interactive and straightforward meeting panels with the necessary tools should be the first and foremost feature you look for in the platform.
With a variety of tools, you should be able to:
Meetings, and notably board room meetings, entail a lot of paperwork and massive stacks of documents. Since we now know that maintaining documents is easy, the next thing you should consider now is privacy.
If we’re talking about sharing documents, they can easily be shared over email, but corporations don’t rely on email due to its lack of security.
So, while choosing the appropriate board portal software, make sure it has efficient and up-to-date security and board management software capabilities.
A robust board document management feature should include the following characteristics:
A solid plan should be developed first for a productive and successful meeting. However, relying on Word documents to create detailed plans is impractical.
This is why board portal software includes convenient agenda builders that enable secretaries to create dynamic agendas using pre-designed templates.
Considering agenda builders are one of the most distinctive and anticipated features of any board portal software, check to see if it includes capabilities that allow you to:
Meetings with the board of directors are not a one-man show. Every board member in attendance has a specific task that must be completed for the meeting to proceed smoothly.
So, task management is definitely the next desirable characteristic to seek in reliable board portal software.
The board portal software you’ll be utilizing should include an interactive task manager that lets you swiftly assign detailed tasks to participants.
If you’re wondering what makes an excellent task manager, consider the following:
Another integral part of board meetings is voting. Most of the time, voting sessions are organized to finalize a decision based on a majority vote.
Because most meetings nowadays take place remotely, the virtual voting option is quite beneficial for board meetings. Ensure that your board portal supports virtual voting so that you can swiftly tally votes and make decisions.
Another advantage of virtual voting is anonymity, allowing board members to rest certain while voting honestly.
Though board meetings usually happen once in a while, they are generally held in person. However, times have changed, and virtual board room meetings have become the standard in recent years.
So, make sure the board portal software you choose is up to date with the latest trends and features virtual meeting technologies that allow you to:
We hope you now have a decent idea of what board portal software is and what you can expect from one that works well. Choose one that is compatible with your budget and goals. With your newfound information, you’re probably ready to invest in the right platform and set for managing board meetings.
