At first glance, a company’s success might seem to depend on how well the performers do their job. After all, they are the ones who make real money. From this organically follows the decision to improve jobs that generate income. But in fact, there is an invisible substitution of the significance of the leadership. The success of every company starts with a well-functioning board of directors. Thus, the value of the board portal becomes apparent for evaluating the result of activities, organizing the sequence of work procedures, etc. All this requires automation. So, we are going to provide you with the board portal buying guide here!
The Best Deals Within The Virtual Board Software Market
There is always a choice, but it is challenging to make it when you have a lot of similar things, selection criteria, and requirements in front of you. You need a navigator who will help you navigate various options and make a reasonable decision. There are several dozen types of board portal software for companies of different sizes and different fields of activity. We tried to get to the point. So, the choice is yours!
- Nasdaq Boardvantage is free to use with some basic features, while the very affordable entry-level plan gives you access to other features you find helpful. The control panel is functional and straightforward. You will appreciate the text chat inside the portal, questions, and answers, polls, votes, links to polls after events, etc.
- BoardDocs is one of the best collaboration software for all board members to help organize teamwork. With its help, users can create instructions, implement strategies, discuss problems, collect suggestions, and conduct an online board meeting with carefully prepared templates. It is a multi-functional software with a lot of features that will appeal to the heads of various companies.
- Process PA is a board team collaboration tool that helps you work on personal and group tasks. With this software, managers can monitor the implementation of individual assignments and the plan’s progress as a whole. As a result, employees will always be aware of the status of tasks. In addition, it offers options for managing resources, costs, and calendars, making it a trusted resource management board portal.
- BoardEffect simplifies media management and team collaboration and makes it easy to manage the assignments. A typical workspace for completing tasks and teams facilitates rapid interaction between project participants. You can rate, comment, and track all activities. In addition, the interaction processes in this project collaboration program are encrypted, so there will be no need to worry about security problems.
- DocSend is an effective universal software for a paperless meeting solution with many functions. With it, board members can develop and modify files, connect to payment systems, organize team workspaces, track their performance, sign documents electronically, etc.
Modern providers equip their board portal software with a different set of functions. However, we can highlight the most advantageous of them:
- Minutes of scheduled and extraordinary meetings;
- Joint viewing of documents, videos, files during the meeting;
- Built-in diary;
- Chat with options for assigning roles, moderation, private correspondence;
- Interactive meeting tools;
- Ability to administer access rights for each participant;
- Automatic distribution of notifications about the upcoming meeting;
- Lots of built-in templates;
- The ability to analyze past meetings: segmentation of information about participants, chat logging, poll results, attendance statistics.
Regardless of the type of the portal, choose software based on the real needs of your business, think through the requirements, and create a managed virtual boardroom. The main thing is that the path to automation does not turn into a maze.
Are You Sure that Your Company Needs a Board Portal?
Of course, the variety of virtual boardroom functions and its possible customization to the needs of each company provides many advantages! But how to understand that your company needs such software and the money spent will pay off? So, you need a board portal if you:
- You are the owner of the company and want to exit operations while maintaining control and strategic direction;
- Look for an opportunity to structure communications between the shareholder and top management of the company and a clear division of roles between them;
- You need a balance of interests, expectations, and ways of development in a situation where there are several owners in the business;
- Do you want to increase the competitiveness and efficiency of the company – to strengthen its strategic competencies within it;
- Do you think that the time has come to attract an external view, fresh ideas, and solutions, professional contacts – to reach a new level of development;
- You need to create a transparent and understandable corporate governance system and attraction of external financing.
Analyze these questions, and you will understand whether you need board management software and what set of functions to choose. Otherwise, you risk wasting your money.
To Sum It Up
Board management software can be a great collaborative tool for board team members if you need file sharing, efficient interaction, and meeting management features. Creative virtual collaboration provides teams with a single space to address work issues. Be sure to read our material and make the right choice!