Actual Functions of Board Meeting Software

Board management software was designed for flexible, legally compliant, and efficient meetings tailored to the needs of the board members. This article will review the software’s actual functions that make online meetings more efficient. 

What is a board meeting software?

Thanks to mobile and distributed communications advances, the modern “office” is no longer what it used to be. Technology allows professionals to work on the go and in close contact with colleagues, customers, and suppliers. These technologies are also reimagining the very nature of some companies as they replace traditional hierarchies with highly adaptable virtual networks. Web meetings allow team members from all over the world to interact in real-time. The need to share information quickly and efficiently is a business constant. A wide variety of sharing tools have been developed to facilitate collaboration, from general-purpose systems such as instant messaging to more specialized systems such as data visualization.

Just as technology has revolutionized how information is accessed and shared at home and work, it is also changing how corporate boards share information and collaborate today. Although, management and board documents are often business-critical and, therefore, of the utmost strategic importance. Thus, many online software solutions are unsuitable for working with sensitive documents. In this case, the board portal is the best option. It is a cloud-based platform designed for efficient collaboration providing a reliable data warehouse and secure workspace.  

The most valuable functions of the board software

Board software provides a set of modern tools for comfortable work, including a scheduling assistant, setting up quorum rules, saving document versioning, a document library, and analytical reports, including pre-configured templates for generating accompanying and reporting documents. In addition to such obvious effects as a more manageable collection of quorums, release of time for secretaries by automating the distribution of notifications and materials, and personal interaction with members of collegiate bodies, the software ensures a higher involvement of managers in the work of the relevant bodies.

So, the boardroom solution offers the following features for collegial bodies:

  • automation of documentation support for corporate governance processes related to planning, organizing, and holding corporate events;
  • control over the execution of decisions made and the exchange of information between the participants in the processes within the framework of a single electronic information space;
  • formation of a centralized repository of electronic documents of corporate governance, providing support for the information policy of a company in the field of corporate governance;
  • displaying corporate events in a shared calendar that visually assesses the number and duration of events. Introduction of color grading of events depending on the stage of the life cycle of the event;
  • reducing the time for processing orders by automating the joint work of employees of the organization;
  • the system provides a flexible reporting format and the ability to quickly access data. Therefore, the possibility of timely problem-solving increases;
  • ensuring a high level of information security through encryption and reducing the volume of paper documents.

How to work with documents in a boardroom?

The board software allows you to set up document processing processes with many stages and complex conditions and store them in the form of templates. It is possible to associate a specific process template with a particular type or type of document. When the process is executed, the system automatically generates tasks for process participants according to a specified sequence of stages. It is possible to configure both sequential execution of stages and parallel ones. The user is notified of the assigned task by e-mail. Participants in document processing processes can leave comments and recommendations directly in the program. In addition, the system includes a mechanism for the automatic transfer of documents to archival storage.

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