Global digitalization has affected all fields of activity, including business. Today, most of the business processes of large companies take place in a virtual format. Thanks to the latest IT developments, such as board management software, now all meetings, transactions, documentary exchanges, and so on are online. To become a leader in a modern business environment, you need to learn how to use the latest software tools in your work, for example, such as board meeting software. Read more about all this, as well as about the pros and cons of that electronic programs in the review.
What Is Board Management Software?
These days, to work effectively, you need to use effective tools. Board portal software has become one such development in recent years. This is an electronic tool that has greatly facilitated the conduct of any business process. With the help of meeting management software, from now on, any business unit can make more effective decisions and achieve success faster and safer.
Modern software systems such as board portals are used in 2021 to optimize business operations. These integrated platforms have proven their productivity and usefulness in a wide variety of economic, political, and business fields. That software facilitates digital board meetings and collaboration between board directors on their devices. It allows them to exercise governance and decision-making responsibilities despite working in remote workplaces.
Board meeting software application is designed for the top management of large organizations, members of boards of directors, committees, working groups, and specialized teams. That electronic program allows you to organize a legally significant decision-making process in a remote mode, including offline and through a web interface. Such software includes the functions necessary for the executives, including working with the agenda of the meeting (familiarization and commenting), electronic voting with legal significance, approval of draft protocols, and control over the execution of decisions taken.
Many large and small companies and corporations have already switched to full virtual data exchange. For this, they install such board portal software and increase the effectiveness of their work many times. With the help of the board meeting management software, working with various business materials and files become more convenient.
The Benefits of Board Software
Board software undoubtedly comes with many advantages. But there are also a few disadvantages. The pros and cons of board of directors software are related to its complex all-in-one infrastructure. In addition to business intelligence, it also provides performance management, advanced analytics functions, etc. It can also be deployed both in the cloud and locally. However, that business intelligence application currently has limited integration capabilities.
Pros and Cons
Pros:
- Fast and easy installation of the program. Board portal software can be set into operation in the shortest possible time, including deploying the system on user servers, configuring interaction with the mail server, and so on.
- Data protection. Using secure board portals, company executives can be sure of the complete protection of information from unauthorized access. All files and schedules are stored encrypted. Access to the software is strictly limited by administrator rights.
- Paper documents are no longer The possibility of complete rejection of printed documents. It leads to the fact that the costs of printing documentation for the meeting and destroying paper copies after meetings and transactions are significantly reduced
- Best board portals joint editing Integration with Office and Excel for joint annotation and editing of documents makes work efficient and fast.
- Integration of the board collaboration software. Integration with third-party systems (electronic document management, video conferencing, etc.) and development of solutions for individual requests and requirements of business processes using software interfaces. Although, not all software tools meet the high level of integration capabilities for now.
- Multilingual application format. The ability to provide information and materials in several languages.
- Flexibility. The board meeting app is suitable for all modern mobile operating systems (iOS, Android).
- Offline access. The changed documents and events will be automatically synchronized after the connection is restored.
- Design and interface. A convenient, intuitive software interface for managing meetings, monitoring the execution of meeting minutes allows you to start using that tool immediately, without prior training.
Cons:
- Integration. Some modern electronic programs for the board of directors show low integration results with third-party programs. Although the software solution currently integrates with MS Office tools such as MS Word, Excel, and PowerPoint, it does not always provide customers with other built-in integration capabilities or even third-party extensions. This may be too limited for potential customers who use multiple cloud tools.
- Price. Software pricing has earned mixed reviews. Some customers claim that the price range is quite high and is not suitable for the average customer. Although that pricing model aims to ensure that customers’ plans match the needs and resources of their companies, price still matters for some companies.
- Mobile limitations. You can work on the program using a computer or tablet. As for mobile devices, today not all tools provide users with the same amount of options in a mobile format as on the desktop version. Some mobile apps currently support only limited functions, including data entry, analysis, reporting. More advanced features are not always available in the mobile version of board portal software.
The Main Features of Board Meeting Management Software
By applying modern board meeting management software to your business, you get the following functions:
- Board document management allows you to plan meetings and display information about upcoming meetings.
- Receiving, viewing, and reviewing materials on the agenda issues on the board documents center.
- The system of electronic voting on the issues from the agenda through the board meeting center with the possibility to leave a comment.
- The signing of accounting and accompanying documents with a qualified electronic signature.
- Tracking the results of voting on each issue.
- Automatic generation of the meeting minutes from the web interface of the application for the corporate secretary.
- Discussion in the chat format within the framework of a specific issue on the agenda.
- Creating templates of various types of documents for individual collegial bodies.
- Creation and control of execution of orders based on the results of board agenda software
What Kind of Companies Need Board Meeting Software?
Ultimately, the board software helps to improve the quality of company management, increase profits from business processes, and improve the reputation in the market as a whole. That electronic program for the board of directors saves the manager’s time, as he spends significantly less time monitoring employees and drawing up a plan for current tasks.
Such board portals are suitable for large, medium, and small commercial and government organizations. At the moment, that electronic tool is used by such types of organizations all over the world:
- Mid-size business field
- Small business field
- Board software for commercial field
- Freelance organizations
- Board portals for nonprofits
- Board software for Governmental companies
- Board software for Financial companies