The automation of business processes via board portal solutions significantly speeds up the execution of standard management procedures. But how to choose the right software? What are the board software options? Here is more about it.
The functionality of board portal software
A well-functioning corporate governance system is an important factor in sustainable development and successful strategy implementation to create shareholder value. Corporate governance impacts all aspects of an organization, from communication to leadership and strategic decision-making, but it primarily involves the board of directors, how the board conducts itself and how it governs the company. Thus, nowadays the board portals are widely used to provide the efficient collaborative process and corporate governance.
Board software – a specialized digital platform developed to optimize the processes of preparation, holding, summing up the results of meetings of collegial bodies of a joint-stock company and a limited liability company. It is a universal solution that allows you to significantly improve the efficiency of the corporate governance procedures of the company. The amount of corporate information available to a specific user of the program is limited following the level of rights he/she has. The board portal typically provides internal communications and third-party application integration capabilities.
The goals of implementation of the board management software are as follows:
- Improving the efficiency and efficiency of the preparation of meetings of collegial bodies;
- Improving the efficiency of the decision-making process.
- Automation of the process of preparing materials for meetings of collegial bodies.
- Monitoring and control of the execution of orders.
Best board portal options
Today you can choose between different providers when it comes to board portals and other governance technologies. So, let`s consider the most renowned board portal vendors:
It is one of the most sought-after digital collaborative platforms in the world. The software provides users with convenient and simple tools for teamwork. Its functionality can be used for a wide variety of organizational purposes – as a repository of information, knowledge, and documents, as a means of remote work for employees, for creating and managing company work processes, for organizing workflow, effective corporate communications, as well as for reducing costs through simple and convenient video conferencing. In addition, in the videoconferences block productivity has been significantly increased: it is possible to hold conferences for 600 listeners at the same time.
It is a platform with wide functionality that allows holding conferences of any scale for up to 10,000 people. Depending on the purpose of the event, different service packages can be used. The software supports various types of documents, the ability to share a desktop, an interactive whiteboard for drawing in the course of the report, and a convenient chat with the moderation of questions. You can also use assistance in the preparation of the event, including the automatic distribution of notifications to participants, monitoring the behavior of participants during the conference.
- Nasdaq Boardvantage
It is a cloud-based governance and collaboration solution that helps organizations of all sizes manage meetings for board members and executives. The platform has a survey module that helps companies create custom questionnaires for conflicts of interest, ratings, or general feedback. The solution offers a variety of functions such as notifications, comments, voting, e-signatures, task management, project tracking, user permissions, and more. In addition, the built-in document manager allows administrators to manage various documents such as contracts, permits, and approval files. Nasdaq Boardvantage includes a task management module that allows users to create recurring workflows, assign tasks, and monitor progress.