Board management software is an electronic tool that aids directors’ boards as well as their administrative support staff, and other stakeholders prepare for meetings, distribute documents and communicate on important topics. These software systems are completely paperless, and members can communicate and collaborate remotely through an internet browser or mobile application. The most effective systems have features that allow you to record and manage meetings, establish agendas, share documents and collaborate on them in real-time. They also permit the recording of meeting minutes, tracking document versions, as well as monitoring the compliance with specific legal requirements or regulatory requirements based upon industry.
The selection of an appropriate board portal should be decided after a thorough assessment of the requirements of all members of the board including the board members, CEO and managers. Typically, the decision is driven by one or two major pain points such as security efficiency, cost reduction and security however a thorough analysis should be conducted to ensure that the net benefits are greater https://boardroomspace.info/board-management-roles-and-responsibilities than the costs.
A quality board management application should include the following characteristics:
Secure data storage – Many providers provide cloud-based or physical facilities that are secure and encryption, with the cloud providing more stringent standards and a verified physical security. It should also be possible to store all pertinent documents needed for a meeting in its entirety, which should be more than a collection of PDFs and emails. The software should be able to provide good practices like discussing important decisions and discussions prior to the start of the agenda and incorporating the security and health aspects.
