Quick Guide to the Board Portal Software

Mar 25, 2022

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Corporate governance is not an easy and sometimes urgent process with high risks and responsibilities. And from this article, you will learn more about one of the most demanded digital solutions that can help with this tough task. Currently, this software is also widely used in the process of managing large companies and corporations.

The board room software is a platform that can significantly facilitate and increase the efficiency of all stages of corporate governance. It can be used both as a full-fledged solution and as an additional resource at all stages of management from planning meetings to direct exchange of documentation and protocols.

This tool is designed to optimize processes and eliminate omissions, errors, and ensure compliance with best practices.

Keep in mind that board management and board portal software are for the most part synonymous and do not differ from a functional point of view.

Scroll down to find out more about the main features the board portal software comes with, aspects that you should pay attention to when choosing the specific tool, and examples of top resources like Boardpaq and Boardmaps.

Key Features of Virtual Boardroom

Each board of directors software may have an individual set of features. However, there are basic options that are common for most virtual boardroom tools.

Planning Tools

With their help, the board meeting software can organize and schedule meetings. This feature involves the use of visual elements. For example, it can be calendars and automation systems that allow you to set up processes for sending and receiving messages.

Document Management

This feature can help download, upload, selectively share files. This option is more secure than data exchange via messengers or email.

Collaboration Tools

Using this tool, all stakeholders can jointly browse files, make adjustments to documents, create suggestions through the comment option, assign tasks, monitor changes.

Security Features

Boardrooms use encryption of files and messages, provide secure data storage, help maintain the proper level of confidentiality, and so on.

How to Choose Virtual Boardroom Software

Here are 3 key tips you may use when choosing an appropriate board portal. Scroll down to learn them in detail.

1. Take a look at the list of features. As a rule, virtual boardroom software is purchased as a complete solution, and not as an addition to the main resource.


2. User experience. The utilization of the boardroom should not be difficult, so all team members should master it easily and quickly. The platform’s interface should be intuitive and not overloaded with settings.


3. Boardroom alignment with your corporate strategies. By purchasing a virtual boardroom, you are making adjustments to the strategic digital transformation of your organization or creating it anew.

Top Boardroom Providers

Currently, you can find a lot of virtual boardroom services on the web, which may differ by price, set of features. However, there are top-notch providers that offer board portal software with a balanced ratio between the pricing policy and the functionality.

Boardpaq

The Boardpaq solution is universal and can be used by corporations and organizations of any size, industry, and so on. The platform is designed for planning and managing board meetings.

The main focus of the tool is on collaboration features: sharing information and viewing files, availability monitoring, and advanced calendar feature, a polling and voting system, creating an agenda, and much more.

Users can schedule meetings and make changes through the Admin Center. This center offers the following options:

• formation of the catalog of participants;


• scheduling meetings;


• creation of dynamic forms;


• fast loading of documents of any format;


• content management, and so on.

The service also pays attention to security and maintains the proper level of confidentiality due to advanced encryption systems, two-factor authentication, a role-based access system, and much more.

The service is flexible and available for both desktop computers and mobile devices that support iOS and Android. It helps you work on the go.

If you have the appropriate access level, you can easily view news, announcements, and generally get access to the agenda. If necessary, you can make adjustments, discuss separate topics via the built-in chat, create a vote or a poll.

Thanks to the calendar and reminder system, you will always be up to date, which will facilitate planning.

Boardmaps

BoardMaps is a user-friendly cloud-based solution for online board meetings that is widely used by corporations, commercial and non-profit organizations to manage all processes related to board meetings.

This is carried out with the help of an expanded option for preparing the agenda, the creation of questions and topics for discussion, and the active exchange of information between team members. With BoardMaps, you can assign tasks to different team members to improve accountability and increase organizational efficiency.

Here are the main options that this resource offers:

• monitoring of the process of approval and permission (carried out with the help of an extended system of roles);


• formation and management of the catalog of participants;


• formation of polls and voting;


• the flexibility of access for resource support on all PC platforms as well as mobile devices.

Those users who have the appropriate access level can organize and edit meeting data and store it centrally. This will help to achieve a good level of transparency in the company. BoardMaps has the option that allows sending invites and sharing activities with different team members. This can be done before meetings to improve the effectiveness of the meetings and greatly simplify the decision-making process. All meetings can be held in person or remotely.

After meetings are held, all data is stored so that users can study all the information to optimize processes in the future.

In addition, the BoardMaps administration can add electronic signatures, change meeting dates, initiate actions, select owners, and add comments. As with Boardpaq, this resource meets global security and privacy standards.

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