Board portals can be the solution for executives to make better decisions in less time. This article will analyze the most valuable benefits of using this software solution.
Board software – secure online workspace for collegial bodies
The globalization of the world economy influences enterprises and, as a result, increases competition. Changing expectations of buyers and suppliers indicate an increase in demand in the external environment. As a result, there is a need for constant development and implementation of new digital technologies. The board software is a good example of implementing new digital technologies into business.
For the decision-makers in the company, a board portal means access to the latest versions of the meeting documents at any time via tablets or laptops – online and offline. The portals also make it easier to deal with the numerous reports, tables, and attachments that are often part of the meeting documents. Decision-makers have early access to information and updates, faster access to current and archived materials, and prior coordination with other members. On the market for over a decade, board portals have become far more user-friendly. They are now used by public companies and organizations of all sizes, including private companies, foundations, government, and local governments. Any organization with board members in multiple locations can benefit from a board portal, as well as those with large volumes of board information.
The main reasons to invest in a board software
The activity of the board of directors is characterized by complex processes and procedures in which it is not difficult to get confused and lose sight of something important. And the price of a mistake here is very high! That is why it is advisable to use board portals – support systems for the activities of collegial bodies. The board software ensures the following advantages for the boards:
- Efficient document management
Boardrooms take up many features that have made working with paper documents practical. It includes fast browsing, setting tabs and bookmarks for a better overview, and adding handwritten annotations, markings, and sticky notes. Last but not least, the company secretariat can inform directors of updates using the portal as a basis for their discussions. In addition, customized documents make it easier to search by document type, eliminate manual entry errors, speed up the workflow process, allow you to upload additional data to the accounting system, and reduce the burden on employees who drive data into a document.
- Security
To ensure data security, the leading board portal providers pursue various data protection strategies: They have their servers located in highly secure data centers. There, each customer’s data is kept separate from that of others, and all data is protected using proven encryption technologies. The portal’s work processes follow internationally recognized industry standards for handling confidential information. And since the portal is controlled centrally by the company secretariat or specially authorized employees of the respective customer, access can be prevented in the event of loss or theft of a device – all in all, a good basis for ensuring the security of Board Portals.
- Control and reports
In terms of control, the system allows you to track deviations in terms and resource costs, analyze the amount of work and costs, and predict and generate visually understandable reports. Automation of board management allows you to comprehensively control the work: the manager – subordinates, managers – the state of processes, the director – the stages of project implementation.