Board software solutions make life easier for board members because they offer an easy-to-use interface, intelligent tools, and secure communication services. So, how to choose the best solution for your government?
The role of the board software
Coronavirus and related restrictive quarantine measures have caused significant economic downturns, forcing businesses to adapt to new, more complex realities, find ways to go online and organize business meetings/negotiations with partners and customers. Online board meetings have become a vital tool for working in these challenging conditions for businesses and government organizations. Therefore, board software is in great demand. But how does it work?
The board software is a secure and effective tool for board members, company secretaries, and other business people to share information and collaborate. Of course, eliminating board documents from paper also results in cost savings in the cost of the paper itself and the cost of printing, binding, and delivering the documents. With board management software, the individual committees of the board of directors can make the various reports and minutes of meetings accessible online. Postage and copying costs are eliminated, as is the time lost through logistics. Archiving costs are reduced because the portal is searchable. Board portals help you streamline board meetings, collect information, and route and share documents with senior executives.
Today, there are many board software providers on the market with similar functionality. The most well-known solutions are:
iDeals
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Nasdaq
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BoardBookit
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Boarddable
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Boardmaps
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Boardadvantage
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Boardeffect
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Diligent
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BoardPaq
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Azeus-Convene.
Reviews and recommendations for choosing the board software
Following the recommendations of the leaders of the top companies and reviews of the most preferred board software solutions, there are the following criteria when choosing a reliable board portal vendor:
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Security
Today, most board management software comes with top-notch security features like encryption, secure cloud storage, and more. Although many of the software comes with built-in security features, you still need to monitor the processes to ensure your company’s most sensitive documents are not compromised. In addition, you need to be sure that all documents, data, and correspondence in your virtual boardroom are protected from possible outside attacks. Ensuring that all security features are enabled or even a dedicated team takes care of online security ensures the smooth running of board meetings online. Security concerns about the safety of board members and confidentiality of documents are alleviated thanks to online boardrooms.
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Document meeting management
What makes virtual boardrooms a breeze for many directors is the ease of managing documents. Moving to the virtual world eliminates printing out thousands of documents for each meeting. Such customization reduces costs and helps directors find the necessary documents faster, speeding up the whole process without affecting decision-making. In addition to all the benefits mentioned above, the paperless meeting solution makes your company more climate-friendly. Going paperless is also closely linked to reducing costs. Some board meetings can require thousands upon thousands of documents to spend a few hours discussing and finding solutions.
Since not all documents have to be printed, paper costs are close to zero. While it may not seem like a lot for each meeting, it can add up quickly, and the value you gain from saving on printing costs will gradually but steadily find its way into your company’s overall budget.