Every company has board meetings during which the most important company business is discussed. Some of those companies might still be using a paper-oriented way of concluding those types of meetings, while not being aware of the solutions that are available on the market. How to convince your board that an investment in a board portal might be beneficial to the way business is handled?
1. Start with numbers
The amount of value you can get from a virtual boardroom for a monthly fee is dependent on your company’s needs. Most of the virtual board software available on the market offers their software at different price points, but all of them include tools that will already make your online board meeting much more engaging and secure.
The amount of solutions that are available on the market is also astounding. There are providers that fulfill very specific company needs, and there are also those providers that can supply you with the most basic board management suite. Whatever your board’s needs, there is a big possibility that there will be a solution that fits them.
A board portal is also a cost-effective solution, as most of the events in the interface can be automated, including sending out agendas, creating reports, and crunching numbers. Not to mention that even people not being able to physically attend the meeting can join in via a stable internet connection, and participate in the proceedings just like they were there, without having to spend money on transport. Every business is slowly shifting into the digital landscape, and a board portal might make that shift even easier.
2. Show how exactly the governance process could be improved
After showing the numbers, you could illustrate the management tools that help with governance. Each board member knows exactly what is happening using a board portal, hence they are encouraged to interact with other individuals. All of those interactions, chats, and votes can be stored in the board portal, and later reviewed for a better grasp of what has to be done. There will no longer be problems like misplaced items from the meeting, forgotten presentations, or even a lack of understanding of the company’s mission. This is why governance over those documents is crucial.
All of the files are held in one place, and this helps with steering the board into a beneficial for the company direction. With a space where all of the agendas and all of the meeting minutes are held, a paperless meeting solution allows for governance on an earlier unknown level.
3. Pay attention to the data security
Board portals do not only allow for better organization, but for increased security as well. When all of the documents surrounding a board meeting are digitized, it is much harder for people to misplace documents, or even leak them to the outside world.
Holding all of the important board meeting files in the board portal helps with the data safety of the company, due to advanced security measures in place. Some of the most notable are all-around encryption, two-factor authentication, watermarking, and permission-based data access amongst others.
Board meetings are events that encapsulate the course of action of the company. Taking care of the topics that are discussed there, and storing those documents in a secure environment should be one of the priorities of the board.
Think of all of the additional processes a tool like a board management software could optimize. Taking care of the calendar, creating and sending out agendas and every other activity that could make the board meeting experience better is available in the board portal. Built around the idea of helping businesses achieve the best possible outcome, board portals are a productivity-oriented software solution that serves not only as storage space but also as an all-in-one collaboration tool.
The workflow of the company is always worth investing in. If buying board portal software means a better organization of other workers, more time for board members to think of the course of action, and not waste time on unnecessary activities, then it is a wise investment for the company.
A board has the most important task in the company — deciding where the business should go. Board meetings are supposed to help with that, but often due to the paperwork involved and manual labor surrounding them, they are time-consuming and often inefficient.
With the help of a board portal software, all of those problems could be dealt with, and there would be no need for using paper during your board meetings. Check out what is available on the market, and pick a solution that fits your needs.