The market of information services for the nonprofit sector is actively developing. In this article, we will analyze the reasons why such kinds of companies choose board portals for corporate management.
Corporate management in nonprofit organizations
The special role of non-profit organizations in public life defines them as operating organizational structures that correspond to the established legal characteristics, have a goal, mission, and principles of activity, a specific organizational mechanism. Corporate control in non-profit organizations is built based on classical management functions. For non-profit organizations, corporate control is especially important, since most of them are aimed at performing socially significant functions that contribute to the stability of society. When organizing it, it should be borne in mind that any non-profit organization is a special organizational system with personnel, finances, and resources and in need of a well-coordinated management system.
Although corporate control is more characteristic of large commercial structures that have shareholder control, it is worth emphasizing that it is present in any organizational and legal form of the economic entity. Nonprofit organizations that do not pursue their goal of increasing financial results and making a profit, working to satisfy various social functions are no exception. Such systems also need to define a strong corporate control framework.
Today transparency is the key element of the activity of nonprofit organizations. Thus, many companies look for digital solutions to make their working process and collaboration simpler and reliable. In this case, the board portal is a perfect alternative. It is a digital platform that provides a secure workspace, data storage, file-sharing, better management of collegial bodies.
Why do nonprofit organizations use board portals?
There are 5 reasons why nonprofits need board portals:
- Security and transparency
Board portals provide unlimited possibilities for storing and using corporate data. Using the service will protect confidential information. The software uses the following security measures: system user authentication, distribution of access rights, support for electronic digital signature of documents, encryption. The working activity in the organization will become more transparent. This is necessary for both employees (awareness of the specifics of the company’s activities is an important component of motivation) and management (it is easier to control the process of employees’ work).
Board portals are used in different ways – sometimes the vendor provides clients with only the servers and data storage, and in other cases, it provides not just hosting, but also the necessary applications, a ready-made working environment. The common thing is that information stored in the cloud can be accessed from anywhere via the Internet.
Virtual servers have been tested under heavy load, and they are administered by specialized specialists. Many providers guarantee 99.9% efficiency. Boardrooms use powerful hardware, so they provide more opportunities for data automation, analytics, and computing. The use of a corporate portal minimizes costs by reducing the time spent on finding the necessary documents, eliminating uncontrolled loss of information, organizing remote work, which increases the efficiency and competitiveness of the company.
Renting server equipment does not require investment in the purchase. The business enters into a contract with the provider and receives the necessary capacity without capital expenditures. The business gets at its disposal ready-made technical solutions, which are administered by the provider.
- Easy document management
The board portal facilitates document flow and reporting. Shared file hosting allows you to upload the documents you need directly to the portal. This makes it easier to co-author documents. Besides, backing up your work materials never hurts.