Board management software is a tool that can be used by boards of directors and their administrative support staff to aid in the preparation of meetings, distribution of documents and communication on key points. They are paperless and participants can communicate and collaborate remotely through the web browser or mobile app. The most effective ones come with built-in features for recording and managing meetings, setting agendas, sharing documents and collaborating on them in real time. They also allow the recording of meeting minutes, tracking the versions of documents and monitoring compliance with specific legal or regulatory requirements based on the industry.

The selection of an appropriate board portal must be made after a thorough evaluation of the requirements of all members of the board including the CEO, board members and managers. Typically, the decision is motivated by one or two urgent issues like security, cost reduction and efficiency however a thorough analysis should be conducted to ensure the net benefits are greater than the costs.

A quality board management application should have the following features:

Secure data storage – Many providers provide cloud-based or physical services with secure encryption. The former comes with higher standards and certified physical security. It should also be possible to store all relevant documents needed for a meeting in all its entire form, which should be more than just a set of PDFs and emails. The software should be able to provide good practices like introducing important discussions and decisions prior to the start of the agenda, and including security and health topics.

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