Such type of software as a board portal has its basic features. Among them are secure video conferences with the team, protected file storage, the ability to create advanced agendas, take notes on them, etc. The possibilities don’t end there. That’s why it is quite an engaging tool for most corporations, with a wide range of functionality.
Several advantages of Board Portals
If you’re not sure if an online board portal is a good idea, it’s worth researching the advantages that this sort of software may offer to the board of directors.
- Improved Meeting Preparation. It’s no secret to any board member that meetings and gatherings are the most important in the process of coming up with some decision. Everyone should come prepared. With the help of this software, the board members can plan a meeting or create an emergency session. Additionally, participants can examine discussion materials and double-check their preparation.
- Enhanced Administration. The administration work has never been easy. Especially if the company uses a traditional approach without modern techniques and technology. Various board portals provide tremendous opportunities for business growth and the development of long-term stable board relationships that no traditional practice can provide. You can use it to conduct various votes and structure the agenda in a way that is convenient for everyone. It’s also convenient to view and comment on any file during or after the meeting.
- Governance without paper. Paper binders are bulky and difficult to transport. This is also expensive to provide them for every member of your board. Go paperless with your board meetings to reduce your environmental impact. Your board directors won’t have to worry about maintaining paper files thanks to the board software, which makes it simple to save your records online.
Picking the right board portal
You have to estimate what your business needs and what would be good to have before you buy a boardroom tool. Once you narrow down your preferences, make sure your board portal is fully stocked with the things you need to develop cooperation and better administration. Your tool should have these essential features:
Center for Meetings. The meetings are critical for your board. So they should be easy to schedule and facilitate. Make sure your board software includes meeting management solutions to guarantee your team is as efficient as possible. You should be able to do the following tasks:
- Schedule and notify meetings automatically. Remove the time-consuming procedure of arranging board and committee meetings. Provide your team with a variety of available hours, and guests will select their preferred time.
- Meetings should include presentations and questionnaires. Board members may need to examine a specific document for an upcoming discussion, or you may want them to evaluate decision-making details ahead.
- Provide consumers with a calendar of forthcoming meetings. They should have a dashboard that shows forthcoming arrangements and allows them to rapidly check the agenda, planned polls, allocated responsibilities, and other information. They should also be able to examine previous meetings from the dashboard if they need to look at some documents or other info.
This allows everyone to focus on the management and strategy of your case.
Agenda Builder. Every fruitful meeting starts with a clear plan outlining exactly what has to be discussed. Instead of depending on confusing paper documents, utilize your board site to make agendas dynamically.
You should be able to accomplish the following tasks with your software:
- Maintain agendas as fresh templates to expedite the process of preparing for future meetings.
- Assign agenda points to individual users to ensure that everyone arrives prepared.
- Determine the duration of every part so that the meeting runs well.
- Securely provide the order of business as interactive PDFs to participants.
Although board rooms were originally created only for a few large corporations that wanted to simplify management with the mass introduction of centralization, they become quite a popular tool among a lot of companies. This type of application is gaining well-deserved popularity because it helps solve problems quickly without the use of third-party applications like Microsoft Word, Google Meets, Zoom, Skype, Notion, and others. Because all the necessary tools are already inside any board room software. Most importantly, this toolkit integrates seamlessly into the overall applications and has the same type of encryption. But make sure that your virtual boardroom software vendor has all the necessary security certifications.
Also, keep in mind that it’s better to use open encryption rather than private closed developments. The first one is proven to be unbreakable, and private projects are more likely to be cracked.
In addition, most board rooms are affordable. If you see a huge price tag but run a small or medium-sized company, look at something cheaper. Also, try to pay attention to fixed-price subscriptions rather than plans with floating costs.