Board members consistently report that they are more engaged in the strategic objectives of a board with access to software that “allows for document annotation, sharing, and transfer.” Purpose-built board portal software versus the alternatives You can make sure this happens by providing directors with a discussion tool to use for conversations before and in between meetings. The most productive board meetings are the ones used for discussing materials or making decisions, instead of catching up on background information or rehashing old discussions. Collaboration and discussion, ahead of the board meeting Timely and convenient access to documents in board software also supports business continuity, making it much easier to navigate a natural disaster, surprise CEO departure, or public relations crisis. This requires both well prepared board briefing materials and convenient distribution, no matter where directors are located.īoard portals play a key role in giving directors timely access to board materials and last-minute updates. To run an efficient board meeting, it’s best that directors have a clear view of the relevant issues before they take a seat at the table. Efficient communication with convenient access to information Even if a director loses a device, the data can often be scrubbed remotely to eliminate hacker risk and he or she can easily access all their board meeting materials by logging into their board portal software on another device. And despite their less-than-secure email practices, the Forrester report found that 41% of board directors were “very concerned about their ability to secure their communications and data sharing.”īoard portal software allows directors to be confident that they are discussing confidential issues and reviewing documents in a secure online environment.
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There’s also the risk of losing essential board meeting materials if directors forget a password or can’t access their email account. This practice leaves organizations open to data leaks and breaches. The Forrester report found that roughly half of board directors are using their private email accounts for board-related communications. Private and secure board conversationsĮven with all the worrisome headlines about cyber attacks, boards of directors remain shockingly cavalier about their online security. Here are some other ways that adopting board portal software protects and benefits your organization. If your organization hasn’t already chosen the best board portal software for your needs, this critic’s guide will help you to discover your best-fit board software, in a streamlined process with 4 simple steps:īoard meeting software is a powerful tool for running better meetings by securely and conveniently distributing briefings and reports to directors. Even worse, boards are leaving themselves open to devastating and costly cyberattacks.
This means that the majority of boards in North America are not operating with the efficiency they could be and that they’re missing out on vital opportunities to attract and maintain the loyalty of board members who expect tech tools to communicate efficiently. This is the lowest usage rate in the world.
According to a report by Forrester, only 32% of boards in North America use board portal software. Maybe that’s why boards in North American are lagging behind when it comes to adopting this type of technology. Though the benefits of board technology are becoming widely known, with the number of options on the market, choosing the best board meeting software can seem daunting and complex. Board portals streamline the process to prepare for meetings, and they improve timely ongoing communication between board members and executives to support quick decision making in increasingly competitive times. Board portals help to engage high-performance directors by providing convenient, confidential information access. The right board portal software is the backbone of fulfilling these functions. And a commitment to security of information. Efficiency in how they communicate and operate. So what are the key traits of effective boards? Progressive recruitment and governance. According to the Harvard Business Review, boards play a significant role in establishing the “tone at the top.” This affects the culture and operations at all levels. The way a board of directors carries out business sets an example for everyone else in the organization. Critic’s guide: 4 steps to choosing the best-fit board portal Strategies to assess your needs, compare products, and ask the right questions
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