After major financial scandals at corporations caused disruption to industries and investors to lose billions of dollars, organizations began to seek ways to increase transparency accountability, disclosure, and accountability. Board portals, which were then referred to as second generation portals were designed to facilitate digital data room secure the sharing of documents and communications between board members as well as facilitating meetings.
The technology has advanced to include additional features to aid board directors to communicate better prior to, during, and after meetings, and make more informed decisions. Not all portals are created equal and it is important to understand what tools your board requires, versus what you would like to have.
If your company is thinking of the first board management software purchase or upgrading to a new solution, it is essential to determine what features are crucial to smooth user experience as well as a strong return on investment (ROI). This article will help you select the right portal to meet your needs. It will provide most important features that should be included in board management software.
A dedicated agenda builder for meetings is among the most useful features. This feature eliminates the need of sharing materials for meetings via email and ensures all board members get the agenda in its entirety. Additionally having a task manager who lets secretaries assign tasks to board members helps everyone stay accountable for the responsibilities they have been assigned.
Another essential feature is a secure document center, which stores all documents of the board all in one place. This tool lets board members not email or upload files to other file hosting services, such as Dropbox or Google Drive. It also gives them peace of mind knowing that confidential information will be protected from unauthorized users.
