Board management software is an electronic tool which assists directors’ boards, their administrative support staff and other stakeholders prepare for meetings in advance, distribute documents and share information on important topics. These systems are usually paperless and allow participants to connect and collaborate remotely using a browser or mobile application. The most effective systems have features that let you organize and record meetings, establish agendas, share documents and collaborate on them in real-time. They also facilitate the recording of meeting minutes, keeping track of versions of documents, and monitoring the compliance of specific legal or web link regulatory requirements according to the industry.
The selection of the right board portal must be made after a thorough evaluation of the needs of all members of the board including the board members, CEO and managers. The choice is often triggered by a few pressing issues like security, cost-reduction, and efficiency, but a comprehensive assessment should be conducted to ensure that the net benefits are greater than the costs.
A good board management software should include the following characteristics:
Secure storage of data – Many providers provide cloud-based or physical facilities with secure encryption and encryption, with the cloud offering more stringent standards and a certifying of physical security. It should also be able to save all relevant documents needed for a meeting in all its entirety, which is more than just a set of PDFs and emails. The software should be able to prompt good practices such as introducing important discussions and decisions prior to the time of the agenda and incorporating security and health topics.