Communication, or more precisely, effective communication, is the key to corporate success. The world is changing and so are corporate cultures. Businesses are looking for better means of communication and promoting teamwork rather than depending on individual brilliance.
Luckily, we have board portal software – revolutionary business solutions that have just restructured corporate communication. Virtual boardroom software has streamlined corporate governance by simplifying data sharing and helping board members perform their tasks with ease.
To give you a better understanding of board portals and their contribution to corporate communication, today’s we’ll talk about:
- Board management software and its benefits
- Top board software in 2022
What is a virtual board-room?
A virtual boardroom or board portal software is an online communication and data storage platform for senior corporate officials and board members. Virtual boardroom software is essentially a secure data storage facility where corporate boards and top company officials can store, access, retrieve, share, or exchange corporate board material.
Boardroom software is enriched with the latest communication tools that allow board members to communicate in real-time, from anywhere, anytime. These features include instant messaging, group chats, audio and video conferencing tools, live Q&As, live polls, online surveys, etc.
Top 5 benefits of board portal software
Here is what board portals can do for boards.
- Better board document management
Inefficient board documentation is a productivity killer; it is as simple as that. Can you imagine how bizarre it would be if a company’s top official is unable to work because they are unable to retrieve board material? In fact, this sets the tone for the middle and lower management. Board members’ time is extremely valuable, and they shouldn’t be wasting it “finding documents.”
However, with boardroom software, it is a completely different story. It hardly takes half an hour to set up a virtual boardroom and start uploading board material in it. Boardroom administration can categorize board files and upload them to relevant folders. Search tags can be added to every file, and the board portal generates an index number for every file uploaded.
In short, the board portal allows boards to organize all the board material and keep it in one place.
- Quick and remote access to board material
One of the biggest advantages of virtual boardrooms is their remote accessibility. Easy access to board materials is an important element in effective corporate governance, and board portals ensure that board members can access any document at any time, from anywhere.
Board portals have dedicated mobile or tablet apps that make it easier for board members to access board material with a single click. The best part? Board members don’t even need an internet connection to access board documents.
- Seamless and controlled data sharing
Data sharing through traditional channels like email, Dropbox, etc., is not safe, and you can share a limited number of files. Moreover, once you share a document via email, you have no control over it.
Virtual boardrooms allow the board members to share documents with one or more users within the boardroom. That means a document never leaves the secure boundaries of a boardroom. Board members can share documents, generate live document links, and revoke document access whenever they want. In a nutshell, a virtual boardroom allows seamless and controlled data sharing.
- Secure board communication
Gone are those days when board members had to wait for board meetings in order to discuss important affairs. This is the era of board portals where board members can communicate 24/7 and that too without worrying about security issues.
All the board communication takes place within the boardroom. From private messaging to document annotations to online board meetings, board portals have all the necessary communication tools.
- Reduction in board expenses
Minimizing administrative or business expenses is also a part of effective corporate governance. Boards are responsible for utilizing investors’ money in optimal ways.
Board management software helps boards reduce administrative expenses to a great extent. As boardrooms are paperless solutions, they help minimize hefty expenses like:
- Paper costs
- Printing expenses such as printing ink, cartridges, printers, etc.
- Documents distribution expenses
- Stationery expenses
- Board meeting expenses
- Board members traveling expenses
Top 5 board portals
An award-winning board portal software that greatly simplifies online board meetings, document management, and task management, Boardmaps is a top choice for small & medium businesses, nonprofits, banks, associations, and governments from more than 100 countries. Boardmaps is not only a feature-rich solution, but it is highly user-intuitive and easy to setup
- iDeals boardrooms
iDeals boardrooms enjoy a high rating on renowned websites like Capterra, G2, and SoftwareAdvice. That’s because when it comes to handling board documentation and ensuring safe & secure communication, iDeals boardrooms can be easily trusted. IDeals streamlines board meetings and make it very simple to review, edit, share and annotate board documents.
Boardable is highly effective for centralized board communications. It has a diverse document center where board members can easily archive board materials for current as well as future use. Apart from that, Boardable provides detailed audit reports, keeping the boardroom more transparent.
- 4. Diligent
Diligent is another high-end virtual boardroom commonly used by the board of directors, committees, and executives. Flexible permission settings, real-time communication, and safer document management are notable benefits of Diligent.
- 5. Govenda
Govenda board software is used by business organizations of all sizes and types. Apart from multiple online meeting tools and seamless document management, Govenda board portals have unique, user-experience-focused design.
When it comes to secure, uninterrupted, and real-time board communication, board portal software is simply an unparalleled solution. Virtual boardrooms like Boardmaps, iDeals, Boardable, and Diligent can easily fulfill the needs of small, medium, and large-sized corporations, nonprofits, associations, and executive committees