Board portal software is now a standard feature for companies which want to simplify their meeting management processes, improve efficiency and enhance governance. This trend is globally-wide and is fueled by a variety of factors, including an increasing demand for transparency and risk reduction from regulatory bodies, an increase in the number of tech-savvy directors joining boards, and the capability to cut costs through efficiency gains.
The broad functionality of modern board portals means that board members can manage everything they require for their meetings in one platform. This helps them save time and money on installing different tools for tasks such as document management, communication and voting. It also enables them to concentrate on meeting preparation and the distribution of high-quality data that contributes to successful board meetings.
Board members must be able access the most current data and documents to make informed decisions in keeping with the company’s objectives. Digital board portals enable directors to collaborate with other directors on documents and comments simultaneously, regardless of the location or device. They allow for anonymous voting on sensitive issues.
Modern board portals offer “anytime and anyplace” remote access that allows directors to access their work from any device or location without the need for any special software. Directors can work from home at a restaurant, from an airport, or in the field.