After major financial scandals rocked the industries and investors lost billions of dollars, businesses began looking for ways to improve transparency and accountability. Board portals, also referred to as second generation portals – were designed to allow secure communication and sharing of documents between board members, as well as facilitating meetings.
The technology has advanced to include additional features that assist board directors in communicating better before, during and after meetings, and make more informed decisions. However, not all portals are created equal. It is important to understand what tools your board actually needs as opposed to what you would like to have.
If your company is thinking of its first purchase of board management software or upgrading to a new solution, it is important to determine the essential features needed for an easy user experience and a substantial return on investment (ROI). This article will help you choose the best portal that meets your needs. It will outline the important features that need to be included in board management software.
One of the most important features is a dedicated agenda maker. Having this feature reduces the need to distribute meeting materials via email. It also ensures that each board member receives an official copy of the agenda. A dedicated task manager lets secretaries assign tasks to board members, allowing everyone to stay accountable.
Another important feature to have is an encrypted document center, which stores all board documents all in one location. This tool allows board members to avoid emailing or uploading files to other hosting services like Dropbox or Google Drive. It also gives them peace of heart knowing that their personal information is safe from any unauthorised users.