Using the board portal service is relevant not only for giant corporations. If you are just at the beginning of the journey and have a startup, this software will also be helpful to you. First of all, it is the security of your data, and secondly, it is saving time and ease of use. The platform includes decision-making on critical aspects of your business and stakeholder advocacy. These processes are urgent, complex, and highly confidential. Board leadership requires clear communication, regular scheduling of meetings, and documentation. An irresponsible attitude can destroy a business even at the initial stage.
What Is Board Meeting Management Software: Definition
Virtual board software is a platform used to assist in all aspects of corporate board management meetings. Even if you have a startup, there are probably people in the team besides you who manage financial or legal factors. From scheduling meetings to sharing documents and minutes, management software is designed to streamline business processes. For example, the Nasdaq directors desk facilitates board meetings by taking notes, distributing minutes, etc.
Benefits of using board software:
- Planning tools
- Committee management
- Directory of board members
- Virtual rooms
- Document management
- Collaboration tools
Board management software is an indispensable tool for your organization to solve all these problems and help your board work together with unification and security. This will save you time and help managers ensure an organized and streamlined board of director’s management. If your startup project has a limited number of employees, you can use the platform for other purposes. An integrated set of tools makes it possible to securely exchange data using a digital signature and watermark on documents. If you expect the growth of your project, board software will become an indispensable tool for you in the future.
Valuable features of meeting management software
You will surely know that document management is a huge amount of work as a startup. All staff can be involved in preparing for the meeting, and the manager must competently organize the workflow. Process virtualization helps reduce the burden on you or your team. An app for an online board meeting automates the main organizational processes. See what the best solutions can offer you:
- Secure and efficient workflow — upload, edit, and share professional information and files.
- Notifications and alerts — use calendars that notify users of important events.
- Set access rights — some users can only view documents, while others can change them.
- 2-step authentication and encryption — these advanced security measures provide an unparalleled level of file security.
- Collaborative tools — instead of face-to-face meetings, work with documents in a digital environment.
- Integration with third-party platforms — instant messengers, social media, apps, and other platforms with meeting tools.
- Voting — paperless meeting solution makes the process fast and transparent.
Such programs significantly reduce preparation time for director meetings and eliminate the risk of errors. With the good meeting management solution, you put your startup project ahead of competition. The market is full of boardroom management solutions, and you can start using them right now, no matter the scale of your business. Before making a choice, study overviews of solutions and sign up for a trial subscription to get acquainted with the portal’s capabilities.
Using Board Software for Startups
A virtual boardroom will become your platform for communication on strategically important issues. This includes writing a development plan for your startup, attracting investors, evaluating the effectiveness of the project, etc. With such a tool today, you can gain a competitive advantage tomorrow. Listed below are some of the typical board management tool features that can help take your business to the next level:
- Scheduling board meetings: Automation tools for sending or receiving emails about proposed meetings.
- Member directory: information about every board member — name, address, contact, etc.
- Virtual space: online communication, “live” negotiations, access control for participants.
- Committee management: facilitates communication and organization of board committees.
- Additional sets of digital tools: comments on events, version history of documents and files, assigning tasks to dates, etc.
- Document management: This is the best and safest alternative to email file sharing.
- Guest management: allows you to create and manage guest accounts to increase privileges and access rights.
- Collecting feedback: tools to automate the process of collecting and requesting feedback.
Board portal software helps consolidate organizational workflows and accelerate board decision-making. At the same time, the organization necessary to increase productivity is maintained. The platform also functions as a comprehensive database to store and manage critical information and documents that your board of directors may need. Such software may be used locally or in the cloud. These days, more and more startups are turning to such tools because of the convenience and cost savings.