Board Management Software You Can Try: Organizational board management is essential for a business’s growth and survival in an intense market competition environment. It entails making important business decisions while also protecting the interests of your stakeholders. These procedures are time-sensitive, intricate, and high-stakes. Clear communication, the scheduling of periodic meetings, and documentation are all necessary for Board management. These responsibilities can make or destroy a business.
However, there’s a solution to this problem: board management software. It enables your board of directors to collaborate on unification and security and is an essential tool for your organization to address these issues. While assisting managers in ensuring organized and efficient board management will save you time that goes unnoticed when communicating through emails. Sounds appealing? Find out everything there’s to know about board software and what it can accomplish for your organization.
What’s Board Management Software?
Board management software is a virtual platform where board members can communicate & collaborate on certain strategic matters. Examples include drafting policies, managing stakeholders, recruiting executives, reviewing performance, and other strategic concerns. The tool facilitates the consolidation of organizational workflows and expedites your board’s decision-making while keeping you organized for increased productivity.
It also functions as a comprehensive work database to store and manage important documents and information that your board may require at any time. Board software can be deployed on-premises or in the cloud, whichever works best for the organization. Due to their easy, on-demand scalability and lower support and maintenance costs, more organizations are moving toward cloud deployments today.
How Can Board Management Software Help Your Organization?
Here are some standard features of a board management tool that can help your business grow.
Scheduling Board Meetings – Includes more straightforward automation tools for sending or receiving proposed meeting emails and other visual aides, such as calendars.
Member Directory – A listing of every board member’s name, address, contact information, position, etc.
Virtual Room – Online meetings, discussions, and permission and access controls.
Committee Management – Facilitates the organization and communication of board committees such as executive committees, audit committees, committees for acquisitions and mergers, etc.
Collaboration Tools – Stakeholders can collaborate on proposals and documents using tools like task assignment, commenting, file version history, change monitoring, etc.
Document Management – It is a better and more secure alternative to email-sharing documents. It allows you to upload files and facilitate selective sharing during, after, or before a board meeting.
Guest Management – Its features enable you to create and manage visitor accounts to grant access privileges and rights to non-board members, auditors, and permanent or temporary executives.
The Feedback Collection – Equipped with tools to automate the compilation and solicitation of feedback.
Why Does Board Management Require Specialized Software?
Organizations must conduct business differently due to technological advancements and increased market competition. No longer are offline meetings the only option, and you cannot afford to squander time and resources. In addition, the majority of individuals work from home. Consequently, board management software is a prudent choice for you. Let’s examine the benefits that demand you acquire this software.
Easy & Quick Access To Board Data
The documents and information are centralized within the software for board meetings. As a result, it facilitates easy and rapid access to these data, allowing members to make quicker decisions. Also, it saves you time instead of requesting that your administrators provide these materials.
Reduced Preparation Time For Scheduling Meetings
The software reduces the time required to schedule meetings, which can now be done in minutes instead of hours. Well, you no longer have to go through the trouble of compiling documents or shipping and printing their copies. Instead, the cloud makes it possible to expedite meeting arrangements, systematize committees, request ballots, share files, solicit feedback, and conduct surveys.
Data Access Control & Enhanced Security
You’ve complete control over adding and removing members, sharing information with specific individuals, controlling passwords, etc. Most service providers who comply with the regulations also use industry-standard encryption to secure everything. Additionally, if something goes wrong, you can recover data. Finally, automatic backups can be scheduled to prevent your organization from losing valuable data.
Cost-effectiveness
Board management software saves you money on the costs associated with travel, lodging for members, and printing and shipping documents. Also, it saves you a lot of time that you can put toward expanding your organization. In addition, cloud-based software is affordable and saves money on maintenance costs. So then, let’s locate some respectable board management software for your business.
Top Board Management Software
As we curated, the best Board Management Software is listed below.
1. BoardPAC
BoardPAC is an award-winning board management software that can simplify, secure, and digitize board of directors’ meetings. It is accessible in approximately 40 countries across the globe. And offers the utmost levels of security and confidentiality alongside user-friendly features. It supports cross-platform devices, including iPads, Android, and Windows, and is a wonderful software for corporate governance meetings. Big companies have been drawn to Board PAC by its ease of setting up, managing, and uploading meeting agendas and resolutions.
The software also provides the ability to record meeting minutes and monitor assigned duties and actions. It allows you to incorporate board voting directly through the board portal, as well as board approvals and surveys. For improved results, you can also send automated reminders or follow-ups. Additionally remarkable is BoardPAC’s pre-board facility. It allows divisional leaders to submit documents seamlessly before board meetings. In addition to setting up future meeting dates, you can obtain member confirmations of their availability.
Similarly, the post-board feature allows you to compile post-meeting communications via emails with interactive templates. You can also include approvals and results in these compilations, provide access, and monitor communication between board organizers and divisions. BoardPAC enables presenters to confirm they are scheduled for the next time, with the system transmitting status updates. Thus, company secretaries and organizers could easily communicate via message with the lined-up presenters without departing the board meeting. The platform enables easy navigation and one-click access to a meeting or resolution requiring their attention.
New agendas under review or awaiting approvals can be moved. The agendas comprehensively view actions, including documents, annotations, version comparisons, comments, previous papers, and more. BoardPAC also allows you to submit videos to your agenda to distribute essential information or the speech of a person unable to attend the meeting. Include electronic signatures and approvals, and compare two pages for a more thorough review. Use the presenter screen to share your screen with the entire meeting or specific members. It allows encrypted communication between meeting participants, groups, organizers, etc., before, during, and after a meeting.
2. Boardable
Are you searching for board management software that is both affordable and easy to use? Consider Boardable. This software is excellent for non-profit organizations that want to equip their team with the proper set of tools so they can concentrate on management and leadership. Boardable, created for non-profit leaders by non-profit leaders, centralizes communication between you and your board. You are empowered to work more efficiently and collaborate with committee members and your board through intuitive tools. Find the most convenient meeting times, securely store your documents, participate in fruitful discussions, and more in one location. In addition, Boardable employs robust browser encryption to ensure the security of your data, including any files you may download or upload.
Restrict access to sensitive documents to only authorized users and prevent unauthorized access. Customize their dynamic templates or start from inception to assist your committee directly with a private note annotation from the board portal. After creating your agendas, you can transmit them in PDF format to your board members with a single click. Boardable’s communication feature saves you time when scheduling meetings or sifting through files to manage attachments. With Google Sheets, Excel, Outlook, Google Calendar, and other tools, Boardable allows you to integrate with them all seamlessly. In addition to all of these features, the software is affordable, starting at $79 per month.
3. BoardPaq
BoardPaq is a paperless, cost-effective solution to centralize and manage your board’s information and data. This next-generation tool provides an easy-to-use cloud service to facilitate seamless communication & collaboration among your board members before, during, and after meetings. BoardPaq places a premium on protecting the privacy and security of your board data. You can tailor the software’s security features to your specific requirements. They provide easy-to-use apps for web browsers, Windows, and the iPad with one-touch execution options.
Due to its straightforward design, you can quickly navigate BoardPaq regardless of your experience level. BoardPaq’s intelligent admin center allows you to manage or organize everything from a central location. Using multi-admin permissions, you can divide the tasks amongst your groups. Additionally, the platform allows you to manage and update last-minute changes in real time. Use an agenda builder, reporting, and minutes builder to save time. BoardPaq is great for various organizations, including institutions, K-12 schools, healthcare, for-profit and non-profit organizations, and local government.
4. Diligent
Built for executive and board meetings, Diligent’s platform is straightforward, secure, and effective. It allows you to extend your reach beyond the boardroom and typical meeting requirements, such as disseminating materials in a secure environment during board meetings. Board evaluations, industry-leading thought leadership, and D&O requests. Get real-time analytics for your business and the industry you serve, as well as curated resources and news, to remain abreast of the current business landscape. Use real-time insights to generate individualized reports and alerts for specific events or corporate health changes. Use their artificial intelligence to enhance key insights, trends, and growth while eradicating time-consuming duties.
You can also integrate data from multiple business elements in a single record system, such as legal, finance, tax, compliance, and treasury. This comprehensive integration transmits your subsidiary information and key entities securely. By accessing director data, you can work to improve governance oversights, such as director interlocks and board diversity. Diligent Entities can help you centralize, structure, and effectively manage your corporate record to improve entity governance, compliance, decision-making, and risk prevention. Diligent provides a secure, streamlined, and digital meeting process that includes agenda management, status updates, document collation, and meeting materials publication within minutes.
5. BoardManagement
Using BoardManagement, you can collaborate with your board members from any global location. The software streamlines the entire process to help you manage your board members in every way, keeping everyone in the loop. It includes a comprehensive, secure, easy-to-use portal to easily conduct meetings, collaborations, document management, record keeping, etc. Well, the service provider adheres to stringent security policies to protect your data, such as files, credential records, personal information, and communications. In addition, BoardManagement is committed to providing you with the best governance practices to ensure the longevity and health of your organization.
Collect attendees, monitor events and meetings, add materials, etc., with in-depth details, timely notifications, and RSVPs that can be submitted with a single click. You can post proposals and updates using your email, organize discussions based on topics, and synchronize communications. Securely store board documents, generate member directories, connect with members via personalized profiles, monitor their activities, etc. In addition, you can establish tasks, designate them to individuals, attach documents, set deadlines, and communicate to inquire about the task’s status. You can drag and drop files, organize them in folders, upload a file from a comment, event, or discussion, organize your documents using categories, and more.
Consider The Following:
The Bottom Line:
I hope you find all the information on board management software & its features and benefits useful. Then, keeping this information and your specific needs in mind, select any solutions I’ve outlined above. It will help you expedite meetings, facilitate collaboration and decision-making, and keep you ahead of the competition.
