Board management software is a digital tool for directors’ boards and their administration support staff to help with meeting preparation, document distribution and communication on key points. These systems are paperless, and members can connect and collaborate remotely via the web browser or mobile application. The best systems include features that let you take notes and manage meetings, establish agendas, share documents, and collaborate on them in real-time. They also allow the recording of meeting minutes, keeping track of versions of documents, and monitoring the compliance of specific regulations or legal requirements according to the industry.
The selection of an appropriate board portal should be determined after a thorough assessment of the needs of all board new boardroomspace.info article members including the CEO, board members and managers. Most often, the decision is motivated by one or two major issues such as security efficiency, cost reduction and security but a comprehensive assessment should be conducted to ensure that the net benefits exceed the costs.
A solid board management system must include the following essential elements:
Secure data storage – Many companies provide cloud or physical storage with secure encryption. The former offers higher standards and also certified physical security. It is essential to be able to store all the documentation of a conference, not just PDFs and emails. The software should be able to trigger good practice, such as the introduction of key discussions and decision-making early in the agenda, and including safety and health topics.