Board management software is an electronic tool which assists boards of directors and their administrative support staff as well as other stakeholders prepare for meetings in advance, distribute documents and share https://boardroomspace.info/board-management-roles-and-responsibilities information on important issues. They are usually paperless and allow participants to collaborate and connect remotely via a web browser or mobile application. The best ones include built-in features for capturing and managing meetings, establishing agendas and sharing documents, and working on them in real-time. They also permit the recording of meeting minutes and tracking document versions, and monitoring the compliance with specific legal requirements or regulations based on industry.

The selection of a good board portal should be informed by a thorough assessment of requirements across the entire board cycle including the chair as well as board members, CEO and managers. Often, the choice is driven by one or two major issues such as security efficiency, cost reduction and security however, a thorough assessment must be conducted to ensure the net benefits exceed the costs.

A quality board management application should include the following attributes:

Secure data storage – A lot of providers offer either physical or cloud-based facilities that are secure and encryption, with the cloud having more stringent standards and a verified physical security. It is also possible to store all pertinent documents for a meeting in all its entirety, which should be more than a mere collection of PDFs and emails. The software should be able facilitate good practices, like introducing important discussions and decisions early on in the agenda, and also include security and health issues.