Board management software is a digital tool for directors’ boards and their administrative staff to assist with the preparation of meetings, distribution of documents and communication on key points. These software systems are completely paperless, and members can communicate and collaborate remotely through either a web browser or mobile app. The most effective ones have built-in features for recording and managing meetings, scheduling agendas and sharing documents, as well as working on them in real time. They also permit the recording of meeting minutes, keeping track of document versions, and monitoring the compliance with specific legal requirements or regulatory requirements based upon the industry.
The selection of a good board portal should be informed by a thorough assessment of needs across the whole board’s life cycle, including the chair as well as board members as well as the CEO and managers. The choice is often driven by a number of pressing concerns like security, cost reduction and efficiency, however a thorough assessment should be conducted to ensure that the net advantages outweigh the costs.
A quality board management application should have the following characteristics:
Secure data storage – Many providers offer either physical or cloud-based services that offer secure encryption, with the former providing more stringent standards and certified physical security. It should be https://boardroomspace.info possible to store all documentation from the conference, not only PDFs and emails. The software must be able to encourage good practice, such as making key discussions and decisions prior to the agenda and including health and safety issues.