Published by FrankNez Team.
The board portal is a widely used software that helps establish communication between individual board members, ensures the security of information exchange, and provides convenient access from anywhere in the world.
Each board portal has an individual set of features, but it is the collaboration and project management tools that play the leading role.
With the help of collaboration features, you can ensure effective interaction between the project team and third parties (for example, stakeholders).
To do it, most board software portals implement tools for tracking document versions, viewing history, and scheduling task assignments.
In addition, each boardroom software allows you to comment, join discussions, organize polls, and much more.
As for the project management tools, the software helps establish effective communication at each stage of project creation:
- Initial stage,
- Executive stage,
- Post-project stage (when you analyze errors, make adjustments to the business plan).
Together, these features help boost your business performance and reduce financial costs.
For more info, you can read the board-room Canada article with a review of the top-notch providers.
Key Features of Board Room Software
Along with the management and collaboration tools, each boardroom software comes with a set of other features.
As a rule, they directly depend on a certain brand, but there is also a standard set that is common for the most board of directors’ software.
Most of the up-to-date boardrooms allow you to operate with a large amount of information.
You may use almost any existing file format. Sometimes, the size of the storage you can utilize correlate with the type of boardroom pricing plan.
At the same time, there is a tendency when board room providers do not set such restrictions.
It means you may upload as many files as you need and still have quick access to any of them during any stage of the board meeting.
Often, the usage of board of directors software implies third parties like potential investors, stakeholders, etc.
So, to make sure that your information will not be misused or damaged, boardrooms implement 128-bit or 256-bit advanced encryption keys and SSL protocols.
Also, boardroom admins can set the role-based access to files and change it in a couple of clicks.
The current business realities are such that employees of one project can be located thousands of kilometers from each other without compromising the overall effectiveness of the team.
One of the important conditions for this is the mobile compatibility of the software they use.
It means you can use any mobile device such as a smartphone or tablet to connect to a conference, access files, upload and sync data to internal storage, and much more.
For this purpose, modern providers offer their own boardroom application or provide an opportunity to work with the web version of the product.
The second option is predominant at the moment since it does not require downloading additional software.
The only limitation of the board portal software, in this case, may be a slow Internet connection.
Who Uses Board Management Software?
A boardroom is a popular software almost in any type of business.
Below, you can see some of the areas where such soft is a must-have.
As a rule, charity funds spend a lot of resources, especially time, on paperwork, communications, and so on.
With the help of the boardroom, you can significantly reduce these expenses to a minimum and automate processes as much as possible.
This business area is perhaps the second after the legal one, where a large volume of paper documents becomes an inhibitory factor.
Most trade associations spend much time on distributing documents, reading and synchronizing them, getting feedback, signing, and so on.
With the help of the board portal, you can eliminate this shortcoming.
There are various types of foundations: private, corporate, family organizations, and so on.
In any case, you are dealing with personal and financial data that must be kept secure.
Thanks to advanced board document management and security features, the board portal allows you not to worry about possible data leakage or unauthorized use of financial documentation.
If you work in the healthcare industry, then you are probably a face with a lot of meetings.
Boardroom allows you to make them as convenient, accessible, and efficient as possible.
With remote access, more people can join the meeting.
With the use of voting and questionnaire tools, you can collect more information and make more realistic conclusions, forecasts, etc.
The healthcare sector is characterized by an intensive flow of documents that are of critical importance.
The virtual boardroom helps you structure and cluster files, use filters for quick searches, and make changes instantly.
Using the boardroom, you should not worry about the corporate information of your customers, as it is protected from leaks and unauthorized use.
How to Pick the Right Board Portal Software?
When choosing the right board portal software, you should decide what type of business you are running and evaluate its pain points.
It is important to determine the feature set of the future board portal software.
Here the main thing is to choose a solution that offers the minimum necessary tools to achieve the tasks.
Also, you should evaluate the solution and test it.
Before purchasing, you need to do a little research on the Internet and understand the general impression of the product.
Give preference to feedback from users on independent resources to make a board management software list of pros and cons.
In addition, test the trial version of the product to the maximum.
Don’t forget about the customer support service.
In order to do it, you can make a request and examine the time and quality of the response.