Software such as forum portals is increasingly being used by organizations as part of promising business practices. Can it still help with business management? What does using software packages for instant meetings, more efficient processes, and clearer levels of accountability and reporting mean for organizations?
Are you reluctant to use a meeting portal because of an unwillingness to change, or are there other factors preventing your organization from changing its business processes despite the potential benefits? Learn more about how to implement board meeting software further down in the article.
What Is a Board Portal?
Board Portal is a secure digital corporate governance platform. What is its main purpose? The platform is used to optimize and improve communication, collaboration, and information sharing within the board of directors. It is also convenient to share files between its executives and directors. In this useful article, you will learn how to run a board meeting script and related benefits.
This type of software not only replaces traditional paper-based processes but also offers the following benefits:
- Facilitates communication with the board management software.
- Improves preparation for meetings.
- Helps you make better decisions.
- Manages video conferencing for virtual and hybrid meetings.
- Creates an audit trail.
- Collects data on board activities.
- Tracks the progress of activities.
The board portal is accessible to all members at any time from mobile and desktop devices. This ensures that everyone involved in board or company governance can access the most important information and conduct board business anytime, anywhere. Ultimately, board portal software becomes the primary means of communication between all stakeholders. It enables communication in a secure environment and brings all board-related activities together in one easily accessible place.
Options for Using the Board Portal
A digital board meeting portal is not only used for board meetings. It is also used by public and private companies to improve workflow at all stages of meetings.
Secure document sharing
Board software solutions provide a certain level of security as all documents are stored in a central repository. This secure platform ensures that documents can only be accessed by those authorized to access the profile and that they are not lost in email chains.
Manage meeting preparation
Forum administrators can schedule meetings, invite participants, and synchronize calendars in the portal. They can also use the Agenda Builder to create agenda items in minutes. These are not all the features, in addition, they can prioritize the most important topics and attach relevant documents to keep administrators up to date.
Real-time collaboration
Board members may not always be in the same room, but with cloud connectivity through board meeting management software, they can work with each other on documents, and changes are automatically updated across all user profiles.
Approval of documents and decisions
The Board Portal can be used to collect legally binding digital signatures, not only of board members. It also records all data related to decisions, making it easier to find important information when conducting audits.
Manage action items
Allocate all the necessary action items to agendas and minutes, assign responsibilities, and set deadlines. You can also use the committee management platform to track the status of action items and ensure that work is progressing as planned.
Manage meeting minutes
Parliamentary portals often offer the ability to create minutes from agendas within the platform. This simplifies and accelerates the process and allows minutes to be distributed while they are still fresh in the mind. Members can read, approve, or suggest changes to the minutes.
Remote working
The popularity of remote employment is growing rapidly. With access to the board of directors software from mobile devices, board members can connect to their work on the go. They can log into the portal when they need to and use video conferencing integration to participate in meetings when they can’t attend in person.
Security
Today, companies and organizations store and process more information than ever before. Naturally, security has become a core aspect of business management. Both small and big companies have a huge responsibility to protect the data entrusted to them, especially as data breaches have increased recently: the average cost of a data breach in 2020 will be $3.9 million, and most organizations can’t afford to laugh. Businesses continue to invest in security systems to protect their operations. These technology solutions are now part of an overall cyber risk management strategy.
Summary
Board Portal software offers many benefits for board managers, company secretaries, and directors. From improved workflow and collaboration to greater and more secure record-keeping, board portal solutions provide a significant return on investment. It provides a more secure and efficient way to distribute board minutes, conduct board meetings, and complete tasks. It also creates a digital audit trail to ensure compliance.