Board management software is also called board portals, and is designed to streamline the running of a corporate board. It automatizes the routine tasks such as scheduling meetings, sharing materials and dispersing minutes of meetings. It also provides tools to assist directors in working effectively with each other in person and online. While some vendors offer all-in-one solutions, other require users buy additional integrations to support specific functions. This article outlines five functions of board management software that are based on the ratings of verified software users. It also presents the best-rated products in each category.
The document management feature centralizes and arranges all documents related to boards in one place, improving efficiency and managing information. It also comes with collaboration tools like real-time comments and annotations, which allow members to look over documents simultaneously and speed up feedback and decision making. This feature also comes with access controls and version control, which allow administrators to determine the level of authorization required for documents and files.
Security is a major consideration for any company adopting new software, especially when it involves sensitive data. Freeware typically comes with little or no encryption. This makes boards more vulnerable to breaches which could result in financial losses and reputational damage. It is recommended that you select a solution that comes with secure encryption of 256 bits or higher.
A dependable board management program can reduce administrative work and save time, allowing more time to focus on important projects and initiatives. To determine the best option you should conduct extensive research and evaluate. Alongside examining the capabilities of each program it’s crucial to assess how well each feature is integrated with your current technology stack.