Board management software is a software tool that allows directors’ boards as well as their administration support staff to assist with meeting preparation, document distribution and communication regarding key issues. These software are typically paper-free and allow users to connect and collaborate remotely using a browser or mobile application. The best ones have built-in functions for recording and managing meetings, establishing agendas and sharing documents, as well as working on them in real-time. They also facilitate the recording of meeting minutes, keeping track of document versions and monitoring compliance with specific regulations or legal requirements that are based on industry.

The selection of a suitable board portal should be informed by a thorough assessment of the needs throughout the board’s cycle, including the chair, board members and the CEO as well as managers. Most often, the decision is motivated by one or two pressing problems such as security or cost reduction, however, a thorough assessment must be carried https://boardroomspace.info/board-management-roles-and-responsibilities out to ensure that the net benefits are greater than the costs.

A quality board management application should include the following attributes:

Secure storage of data – Many companies offer cloud or physical facilities with secure encryption, with the former providing more stringent standards and a verified physical security. It should also be able to store all the relevant documentation for a meeting in its entirety, which must be more than a mere collection of emails and PDFs. The software should be able to facilitate good practices, like introducing important discussions and decisions prior to the start of the agenda, and including the security and health aspects.