An effective board of directors is the key to financial success and an important competitive advantage for the company. Here is more about how board portals help senior executives and the company secretariat do their jobs more effectively and securely.
Virtual board portal, as one of the most innovative technologies
The rapid development of technology today offers companies great opportunities. Many processes are carried out using programs that have been created for the specific needs of modern businesses. One of the technologies that have become critical to businesses in recent years is the virtual boardroom. Thanks to video conferencing tools business leaders can organize virtual board meetings, saving time and money for everyone.
Just as technology has revolutionized the way information is accessed and shared at home and work, it is also changing how information is provided on boards of directors and how they work together today. However, management, board, and supervisory board records are often confidential. For this reason, many online tools and apps are not suitable for working with sensitive documents. This is why the board portal was developed, a digital platform oriented towards the specific needs of modern management bodies
A board portal is a software-as-a-service platform that enables management bodies to receive meeting documents and share information. This service provides the secure digital storage of documents such as reports, working documents, and attachments for the next management, archived documents from previous meetings, and additional information from the management body such as the articles of association, committee by-laws, and succession plans.
What are the board portal functions?
The most important attributes for board portal software and board technologies are document security, simplified processes for the committee, and easier distribution of documents. A board portal that makes board work easier and streamlined between board meetings has the following functions:
- Digital signatures
- Board meetings & annual meetings
- Owner & electoral list
- Data Room for documents
- Board Chat & Board Forums
- Decision minutes
- Voting system
Let`s consider in more detail:
- The boardrooms portal offers the user two types of chat – private and public. The public chat is for all authorized members of the leading teams. There you can discuss any questions. And to get on with their work on certain parts of the project without disturbing others, users can have a little private chat and have a conversation there.
- There is also a small but useful tool for voting. With its help, team members can carry out quick votes and decisions in the group, not online or offline. It is extremely convenient that what should be resolved as soon as possible.
- There’s no need to say how convenient virtual meeting rooms are for the leading teams with remote attendees. By using the board meeting software for video or voice conferencing, you can hold virtual meetings. And the remote director has access to all important data and documents through the digital room boards.
- Although the virtual meeting rooms are considered to be what serious directors in large companies, even small studio software development can greatly benefit from such a solution. This boardroom software will also help you to get the best picture of your team towards the customers.
- The boardroom portal offers its users convenient chat rooms where they can discuss questions in a convenient and safe environment. In addition, the leaders can edit individual chats that become invisible to others. There you can discuss some topics privately.