Very few technologies have managed to enter the business world and become widely used. One of the technologies that have altered corporate governance is board portal software. A board portal combines several high-end technologies that can benefit all kinds of businesses in various ways.
However, you might not get the outcomes you are looking for if you use any board management software available on the market. That’s just because different virtual boardrooms have different functionality, security, and usability. Consider several board portal vendors and choose the one that meets your needs perfectly.
Therefore, it is preferable to research and find the right board meeting software that best suits your company’s needs, rather than continually switching between different ones.
What is board portal?
A board portal is a tool that makes it easier for directors on a board to communicate securely online. Board portals are designed with good governance and with boards in mind. In order to facilitate communication as much as possible, board portals frequently include messaging features, voting tools, meetings, meeting minutes, agenda features, and other tools.
The right board portal software can streamline communication and improve board performance, Simply put, board portal software saves time for corporate secretaries and directors.
Key features of board meeting software
A board portal is a digital tool that streamlines and increases the effectiveness of board meetings. The board portal was initially developed to allow the board of directors to efficiently plan the strategic growth of the business or discuss pressing issues.
Today, board room software can be used by everyone on the team, not just executives, to run meetings, share documents, set goals, define tasks, and monitor completion.
A board meeting software should have the following essential scheduling features:
- Documents management
Does the software for virtual board meetings have sophisticated document management features? Does the board meeting app allow you to track document uploads, add annotations, and add and edit documents?
- Agenda creation
Can you create a meeting agenda using the online board meeting software? Does it allow for collaborative agenda editing? Creating an agenda is a crucial component of productive and useful meetings.
- E-signatures
Does the digital board meeting software allow you to sign documents digitally? Physical document approval can be a challenge for a remote team. This issue is resolved by e-signing documents, which also validate them for further use.
- Role-based permissions
Does the software for virtual board meetings allow for permission-based access control? Many team members are working on boards at different levels of the hierarchy. A crucial consideration when choosing board meeting software is to choose tools with role-based permission features to keep communication for the various stakeholders streamlined.
- Voting/Polling
Does the board of directors software support voting/polling features to decide governance guidelines, team member hiring, and other board-related tasks? With the help of online voting and polling features, you can weigh the opinions of all participants and reach a consensus.
What to consider when choosing a virtual boardroom for your company? 4 main steps
A virtual boardroom can be used to manage board documents, conduct online board meetings, manage projects, and facilitate communication between board members and stakeholders, investors, and other outside parties.
To make the best decision for your company, consider the following critical factors:
- Security
The importance of virtual boardroom security is of utmost importance. There should be no compromise on security features because business spheres choose board portals for their security. To begin with, verify that the vendor you are considering is licensed.
Unlike email and data-sharing services, board portals have the necessary security features. Paperless board meetings are simple to access and hard to hack. Access levels for various users can be set by administrators, and they can also add additional security measures like encryption.
- Online board meeting management tools
It would be difficult to believe that there is a business that has never used its board portal for board meetings. The most appealing feature of virtual boardrooms is the online management of board meetings. It is crucial to check that the board software you want has all the necessary meeting tools, such as:
- Agenda maker and templates for board meetings
- Tools for audio and video conferencing
- Speaker mode
- Creating meeting minutes
- Builder and templates for meeting minutes
- Manager of tasks
- Digital signatures
- Voting devices
- Online surveys.
Make sure a board portal supports the integration of external apps if it lacks built-in audio or video conferencing features. However, be aware that third-party apps may affect the security of your boardroom.
- Simple user interface and dashboard
Outside parties could use your board portal software for a variety of purposes. It will be challenging to educate transient outside visitors, but you can train your employees, managers, or directors.
However, new users can adapt quickly if your board management software has a simple and user-friendly interface. They will have no trouble navigating the boardroom, and a straightforward yet comprehensive dashboard will let them quickly access any feature.
- Device and operating system support
Each board portal software has a method for deployment, but not all boardrooms must be deployable on your business’ operating system. For instance, Windows and Linux are not commonly supported in boardrooms. Additionally, many virtual boardrooms can only be accessed via desktop or laptop computers.
Finding a solution that works with widely used operating systems and is also usable on mobile devices like phones and tablets is preferable.
Conclusion
Technology is only effective when it meets your specific needs. Even a well-known provider of online board portals might need help to satisfy your needs. Do your research to find the one that works best for you. However, make sure the product you choose has all the essential features.
Given the specialized nature of board management software, it is preferable to compare board meeting software even more precisely. Reviews of board portals assist companies in gaining a complete understanding of how well it fits your internal procedures.
