Board management software, also referred to as board portals, is designed to facilitate and simplify the task of managing the corporate board. It automatizes routine tasks like scheduling meetings, sharing materials and dispersing minutes of meetings. It also has tools to help directors communicate effectively with one another both in person and online. Some companies offer an all-inclusive solution, while others require users to purchase additional integrations for specific functions. This article highlights five important characteristics of software for managing boards based on the ratings given by verified software users and highlights the top-rated software for each feature.
The document management feature consolidates all board documents into a single repository and improves information management and efficiency. It also comes with collaboration tools such as real-time comments and annotations, which enable members to review documents at the same time and facilitate faster feedback and decision making. This feature also includes accessibility and version control permitting administrators to set levels of authorization for documents and files.
Security is a top priority for any company that is adopting new software, particularly when it is handling sensitive data. Freeware typically comes with little or no encryption. This leaves boards open to security breaches that could result in financial losses and reputational damage. It is recommended to only select a solution that comes with robust, 256-bit encryption or greater.
A reliable board management program can help reduce administrative burdens and also save time. This means more time can be devoted to more important projects and initiatives. To determine the best option it is essential to conduct extensive research and evaluate. In addition to assessing the capabilities of each tool, it’s crucial to think about how each function integrates with your current technology stack.