Board management is a complex procedure that requires the participation of a variety of (often geographically distant) parties. It also requires careful recording and communication. Any oversight or error could be costly for the company affected. Companies often invest in software that is powerful to ensure effective governance of boards and reduce risk.
When looking for the best board management software, users should first create a list of features they need to reduce the number of possibilities and choose the best solution for their organization’s needs. It is also important to look at how the software fits into the corporate strategy and goals in order to make buy-in and implementation of the solution simpler for all parties.
The following essential features are vital to a good software for board meetings:
The software should be able to offer a variety of methods for conducting meetings as well as collaborations and discussions that include but are not limited to:
Tools for managing meetings such as agendas, email invitations, and schedules. Document management features permit the secure storage and sharing of documents following or during meetings. Meeting notes can be easily edited and reviewed by all participants. Documents and data are protected by encryption that is of the highest industry standard and following regulations. It should also include the ability to use video conferencing for remote meetings. It should also provide a dynamic member directory including contact information and committee assignments, as well as more. It should also facilitate organization within and between committees of the board and allow for private note annotation in meeting presentations.