What to Look For in Board Management Software

Board management software is a digital tool for directors’ boards as well as their administration support staff to assist with the preparation of meetings, distribution of documents and communication about key points. They are paperless and participants can connect and collaborate remotely using a web browser or a mobile application. The best systems include features that allow you to take notes and manage meetings, schedule agendas, communicate with documents, and collaborate on them in real-time. They also allow the recording of meeting minutes, tracking the versions of documents and monitoring the compliance of specific legal or regulatory requirements according to the industry.

The choice of a reliable board portal should be an extensive evaluation of the needs throughout the board, including the chair and board members as well as the CEO and managers. The decision is usually caused by a variety of pressing issues, such as security, cost reduction, and efficiency, but a comprehensive evaluation should be done to ensure the net benefits are greater than the cost.

A quality board management application should have the following characteristics:

Secure data storage – Many providers offer physical or cloud-based services with secure encryption. The former comes with more stringent standards, and also certified physical data room vendors security. It should also be possible to store all the relevant documents needed for a meeting in its entirety, which must be more than a mere collection of emails and PDFs. The software should be able to prompt good practice such as the introduction of key discussions and decision-making early in the agenda and including health and safety issues.