Every company requires some kind of tool to facilitate the most rational internal discussion. These discussions are usually held among the top administrative personnel. The most visible member of the top administrative staff is a board member. Unfortunately, the majority of today’s free consumer solutions cannot be used to discuss sensitive data. This is where a virtual boardroom comes in handy. Today is the day for us to discuss it.
Board portal vs free options
The board portal is not just a program that provides seamless contact with other board members. That is, it can’t be compared to free options like Zoom or Google’s counterparts. There are several reasons why you cannot compare them:
- The free apps are not secure. Despite the fact that free alternatives have encryption, their cloud servers are not physically secure. There is also a clause in some free software representatives about saving all conversations carried out with the help of a board of directors software. This is unacceptable when discussing important and critical issues for businesses, such as financial discussions, legal agreements, and planning the overall strategic development of the company.
- In free apps, security policies cannot be configured in a flexible manner. That is, in most cases, it is incompatible with the company’s existing security policy. As a result, you simply cannot adjust access rules for each employee. When it comes to board document management, you simply cannot prevent individual users from viewing documentation that does not pertain to them.
- Free apps also lack the variety of tools that can and will be used during company discussions. For example, free analogs are not used in the creation of automated financial charts, surveys, or other tools required by the company.
To put it another way, a board portal is a comprehensive solution that provides not only paperless board meetings benefits but also stable video communication. Additionally, some representatives offer file storage, though this is not the primary purpose of this software.
As with every single program that is used as an enterprise solution, you have to consider a few important features: whether the solution is right for your business. Since there are many board management software developers, you should consider every aspect of your business. Ask yourself the following questions before you buy:
- How often do you hold meetings? This is an important question because if you have a meeting once a year, you probably don’t need this program. If you have regular meetings, you probably need this program. It provides not only a high-end video conferencing service but also paperless paperwork.
- What features do you need? This question depends on the type of company, the type of workflow organization, and the activities carried out in the information field. For example, if you are the head of a law firm that mainly works with documents, you need this program. It provides the ability to convert all documents into digital form. Thus, if you digitize everything, the work process will be optimized and will be the easiest for your employees and yourself.
- What is the preferred price range for you? This software usually offers a monthly subscription. Read the service provider’s deal agreement as carefully as possible, as there may be many pitfalls that will simply stretch the monthly subscription to additional costs.
- You should also be guided by the type of business you have. For example, if you have a manufacturing firm, then most likely some of the features that are present in the board portal will be unnecessary for you. If you run a financial firm, then just the opposite is true: most of the features will be necessary for you. Do a thorough analysis to see if you should spend money on a board portal.
If you can answer these questions, then you can start looking for a developer who can provide you with the software you need. Only through careful checking and comparison can you achieve something meaningful in your search.
What features does boardroom software have?
Corporate solutions like the board portal have most of the two functions that are necessary to properly automate business processes – the process of discussing the future of the company. Among the tools you can find:
- Standalone operation of the file storage. This is required when you do not have consistent Internet access. All of your documents are saved offline on the device; any changes you make to these documents while not connected to the Internet will be applied once you reconnect.
- Ability to electronically sign documents. If you are not currently at your desk but need to review and sign a document to begin the process specified in the document, you can easily do so using the e-signature feature. Your employees or those in charge will no longer have to wait for your approval before carrying out any process or change.
- Activity monitoring with data security service. Every standard board portal includes a feature for tracking user activity. This means you will scrutinize every change made to the document. The system protects against human error and will prevent an unauthorized user from deleting any file, but you will still be aware that this action was initiated.
- You will be able to conduct your meetings qualitatively. As strange as it may sound, the board of directors portal is designed not only for the board but also for the rest of the administrative staff. That is, department heads can use this tool to hold a meeting and effectively solve problems that have arisen along the way. All of the tools that you have will be available to them as well. That is the creation of various votes, supporting documents, electronic signatures, and so on.
- Board meeting tools are widely used to try to automate most business processes. Paperless documentation is one of them. This is one of the most important functions provided by this type of software, according to the majority of questions from independent researchers. This feature enables businesses to grow while eliminating unnecessary tasks that impede modern business management.
As you can see, each basic board program has a plethora of functions. Not surprisingly, this technology is only improving. According to various researchers in the field of high technology and corporate solutions, this technology will only improve over time, and there will be various solutions in artificial intelligence, blockchain, and other technologies that will only improve corporate life and business conduct.