Businesses that want to achieve efficiency invest in process automation and reduce manual workloads. Thanks to technology, we have business solutions for different needs, and a virtual boardroom is one of those high-end solutions that simplify things for the company’s senior leadership.
It is no secret that leadership is the backbone of any business or nonprofit organization. Thus, equipping senior management with the latest tech helps them do their jobs more effectively.
Today’s discussion is about board portal software and some tips on using it successfully.
Board management software: What is it?
Board portal (also referred to as board meeting software) is a secure digital platform for online coordination and data sharing, globally used by the board of directors, executives, CFOs, board secretaries and presidents, and other members of higher management.
The virtual board software is essentially a secure data storage platform where boardroom users or company management can store important and necessary documents for board use.
Board portals are also equipped with helpful communication features that enable virtual boardroom users to stay in touch and communicate in a controlled and secure environment. Additionally, the company’s senior leadership can also communicate with external parties, and board members can collaborate with their employees and company officials.
5 tips on using board portal software
1. Document repository
As mentioned above, board portal software is a secure document repository where organizations can store any type of documents required for corporate governance.
These documents may include policy manuals, strategic plans, past meeting minutes and agendas, audited and unaudited financial statements, board books, contracts, and agreements. And thanks to virtual boardrooms, boards can organize these documents in any manner they prefer.
Based on their nature, documents can be easily categorized in different folders, and they are also auto-indexed for better searchability. On top of that, all boardroom members can store files in different formats (e.g., documents, audio files, videos, podcasts, and images), with no file conversion or compressing needed.
2. Mobile and centralized access
As virtual boardrooms are cloud-based, centralized business solutions, boardroom users can access them from anywhere. One of the biggest advantages of centralized platforms is that every important thing can be kept and accessed from one place. That means, if your board members need anything to perform their duties, they know exactly where to look.
Mobile accessibility is another great feature of board meeting software. That is, boardrooms are accessible anytime, from any part of the world. Although boardroom users need an internet connection to communicate or perform other activities in boardrooms, they can access the stored material even without the internet.
Furthermore, almost every user-oriented virtual boardroom provider offers mobile apps to make things more convenient for the users. Boardroom users can access the boardroom in whatever way they want – this helps them make time-oriented decisions easily.
3. Boardroom and document security
Virtual boardrooms have numerous features for document as well as boardroom security. For instance, a virtual boardroom is secured by two-step verification and multi-factor authentication. These features help protect the virtual boardroom from hackers or unauthorized entries.
Also, board management software has the remote purging feature, which is used to remove a lost or stolen device (logged into the boardroom) and boardroom documents in it.
Similarly, management can protect documents by using different features. That said, the admin can exercise document access control and define the extent of data access for every boardroom user. It may include restricting any user or group of users from accessing any folder, file, or page in any document.
4. Online board meeting management
Virtual boardrooms ensure simplified and streamlined online board meetings. Yes, boardroom admin can start with preparing the meeting agenda using an agenda builder or built-in, customizable templates. Suggestions from board members can be incorporated into the meeting agenda quickly. Also, the agenda can be shared with all participants within the boardroom.
Virtual boardrooms mostly offer HD audio/video conferencing tools for online board meetings, but companies can also integrate third-party apps for this purpose. Most board portals even provide the screen sharing option during online board meetings. One of the best things about board portals is that members can access board material during meetings without closing their video call tabs.
The board secretary can easily record meeting minutes and get them signed by the chairperson using the electronic signature feature in the board portals. Meeting minutes can be shared with meeting members and archived for future use.
5. Cost reduction
As board management software is a paperless meeting solution that organizations can use it to their advantage and minimize their paper and printing expenses. When board members can share, upload, and access paperless documents, there will be no need for paper documents.
Summing it up
Board portal software is a business solution loaded with so many amazing features. Management just needs to use them right and see how boardrooms can make corporate leadership a lot easier and better. The best thing about virtual boardrooms is that they are very easy to use – and therefore, no rigorous training is required to understand how they work.