Directors who are members of the board of directors are constantly under the pressure of deadlines and lack of time. Due to their responsibilities and profession, they are also often away on business trips, meetings, and negotiations, and have to study and analyze company reports to come up with the best idea to move the organization forward. Board portals help simplify board members’ burdens, simplify their tasks and increase their productivity, and in this article, we’ll tell you exactly how they can do that.
What is a board portal and what is its purpose?
Board portals are special cloud-based business software that helps companies increase their productivity, and in particular provide their services to board members, their organizers, and management to streamline and simplify the negotiation process, meeting organization, and the tasks of the directors themselves.
Board portals provide you with a secure space to store confidential information, hold remote meetings and discuss important issues online, they also offer excellent document management and access features, automation of some processes, and collaboration tools.
They save your precious time and costs, provide flexible space and you can perform your duties while on the road, at home, or on the go. Below we outline the key benefits of board spaces that will help increase your board’s productivity.
One of the main goals of board portals is to provide easy access to the information you need and the ability to share files securely. A quality board portal provider assists you in importing files into the system and automatically formats them into PDF format. Considering how many files are required for a meeting and how each one takes time to format manually, it’s easy to see how much time you can save. Some vendors simply include support for any file type in their capabilities so you can upload and share them without any barriers. Board portals also offer you labeling and annotation features, either for personal notes or for general discussions.
Meeting and Agenda Management
This feature of board portals makes life much easier for managers and board secretaries, as they no longer have to print an endless number of copies of a large volume of documents and then do it all over again if there are any changes in preparation. Managers can now create an agenda in just a few minutes and publish it on the digital whiteboard space so that it is available for all other board members to see. So board members will always be aware of any updates or changes, as they will immediately receive an automatic notification by e-mail. And this will significantly save time during the meeting process. Administrators may as well easily upload financial reports, minutes, and legislation to the space in advance so that participants can study all the necessary materials before the meeting.
Board expenses have always been under scrutiny, now tracking them has become several times easier as the software provides automatic reports, making all board activities transparent. This feature also makes it easier for directors to calculate the travel expenses of employees.
Answers to Questions
The best board portal providers provide high-level support from the maintenance side and provide training on how to use their program. Right. People with any level of tech usage can learn how to use the space, and if you have any questions the support team is available 24/7 and always stays in touch.