Earlier, any meeting required the physical presence of all its participants in one room, but now this process has been simplified. Forget about long journeys and printed materials. With the help of board document management, the whole process is greatly simplified.
The main advantages are document sharing and editing in one click, a built-in calendar of notifications for participants, virtual rooms, an increased data protection system, two-factor authentication, and much more. And this is not the whole list because each board of directors software provider offers different features depending on customers’ needs. The price will also differ. Before buying, it is better to study the company’s goals to choose the most suitable option.
Main Reasons to Use a Board Portal Software
To grow your company, you will need the best tools to help you save time, manage your business better, and ensure that your master data is highly secure. As a rule, choosing the product you need, you will be able to study information about it on the official website and read reviews from other customers.
Return on Investment (ROI)
For meetings directly in the room, you first need to do a lot of manipulations:
- Prepare copies of documents for all participants.
- Rent or buy a space.
- Have a secretary who will notify participants about the upcoming meeting.
- Pay utility bills.
- Clean the room.
- Maintain a filing room.
Board portal software relieves you of all of the above because, with the help of digital provisioning, this is no longer necessary.
Additional funds are needed to pay for the maintenance of the room and all equipment in the office for printing documents, including printers and scanners, as well as the purchase of paper. By paying a subscription for using the board of directors software, you immediately get rid of all these costs.
Here you can also add the transportation of directors members and pay for their accommodation.
Also, the amount of use is not something sky-high that even a non-profitable company could not afford. After all, having saved money, you can finally invest it in something else. Thus, this is one of the options for significant cost savings.
If all this is converted into a monetary equivalent, the amount will be significant. So is it costly to use such novelties of technology?
Accessibility
Simple functionality makes it easy to curate software from anywhere globally and for any user. Moreover, any average user will be able to quickly master all the navigation and features in a short time.
Also, purchasing board management software is not a complicated procedure. Each new offer will have a complete description and a trial version. And if you have any difficulties, the support service operators will come to your aid.
As for work, the vast majority of board portals provide the opportunity to work both on a computer and a phone or tablet. Even on the go, you can stay in touch with virtual rooms and explore documents with access to the vault.
Virtual boardroom – an analog of standard rooms, only in virtual space. There you can hold meetings and see all its participants. You can learn more about board software.
Increased Security
The last reason is increased security. All documents in physical form are subject to harm—fire, theft, or getting wet – all that do not threaten virtual copies.
If we compare cloud storage resources and board document management, it turns out that the issue of a cyber attack is more relevant for the former. If you send information by mail or using social networks, then the threat of theft and hacking is very high.
The same can not be said about software that uses advanced encryption technologies using 128 or 256-bit keys, two-factor authentication, SSL and TLS protocols, etc.
Also, most modern resources comply with the international information security standard (ISO27001). This is what is already included in the package and does not require additional payment.
Not only will documents be safe with a board portal, but all revision histories, meeting minutes, and even contact information about the participants can often be integrated for convenience.
Moreover, the safety of the participants will be higher if they are at home, in their offices, or wherever they feel comfortable.
Final Words
Non-profit organizations are all about cost-saving. Therefore, we offer you instructions on how to improve the ability to administer the process, improve quality, and reduce costs.
Board management software has long won the trust of all customers and has become a full-fledged replacement for many. Its advantages have not gone unnoticed, so more and more different providers on the market are worth paying attention to.
The purchase of the product will guarantee the acquisition of new leadership skills and reduce the cost and time for preparing documents and inviting all participants to the meeting.