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The Functionality of Board Portal Software: How Does it Work?

Board portals are increasingly common in most board rooms across the globe. Many companies rely on board portals to improve productivity and efficiency among board members and other members of the organization.

Within this article, we’ll be covering everything you need about board portal software. Some of the topics we’ll cover include:

Read on for more information.

What Is a Board Portal?

A board portal (sometimes referred to as a board of directors software) is a type of governance software that lets team members secure and timely delivery of digital board packs, as well as hold board meetings, record minutes, share other sensitive documents, and more.

Why Should Boards Use Board Portal Software?

If a board incorporates board portal software into their business practices, they can increase efficiency and productivity, save money and time, and improve the security of any sensitive papers.

Board portals like NASDAQ’s Directors Desk make it simple for companies to compile board packs, allowing directors access to insights and documents anytime and from any location. Report writers will be able to write more comprehensive and in-depth reports, while secretariats can put together board packs and deliver them to members of the board with ease.

Essentially, board portals are crucial for streamlined board document management, helping boards get the information they need quickly so they can focus on other company matters and decision-making.

How Can You Use the Best Board

While companies may be tempted to switch to paperless with more generic platforms like SharePoint or Acrobat to save money, they will not have access to industry-leading security protocols or numerous other benefits that the best board portals offer.

Your best option is a dedicated board portal solution to ensure efficient board meeting resolution, file sharing, reporting, insights, and more. However, there are numerous things you need to consider, such as who will use the software and how will the software work for them.

As the name suggests, a board portal is primarily used by the board of directors of the company, as well as any governors or trustees. However, the software will also be used by your secretary team, report writers, and anybody else who requires information from the board portal.

While generic management software and certain board portals will aid one or two of those groups, the best programs will work for all of these groups and pass your IT team’s tests for security, support, and more.

Let’s look at how the board portal works for each of these subsections of the company in greater detail.

Directors

Directors require a streamlined board portal experience that offers the convenience of paper aided by user-friendly technology that makes board practices more efficient. As such, the portal should be intuitive and easy to navigate.

Most board portals offer the following features:

Company Secretary Team

Board portal software can help secretaries save a huge amount of time compiling and distributing the board pack. However, this benefit is usually overlooked when organizations are considering whether they should go digital.

Sure, no board portal can prevent report authors from making changes right before the board pack is due to go out, but sophisticated board portals can make those unexpected changes more manageable for secretaries whose job is to ensure directors get all the information they need for an upcoming board meeting.

Board portals offer the following perks for your secretary team and organization as a whole:

Report Writers

The best board portal software eliminates constant back-and-forth emails between report writers and other members of the organization, unclogging your inbox and reducing the security of risk of leaking sensitive documents. Writers can also use the platform to make the reports more accurate and help improve company decisions.

For example, board portals can help:

IT Teams

An organization’s IT team has to ensure the board uses the right technology and any documents are secure. While every company has its own requirements, a board portal should offer the following benefits to IT teams:

Great for Board Meetings and More

As you can see, board portal software is essential for any company looking to streamline its practices and scale its business. While it is primarily used for boards and directors, the software can be useful for any committee or meeting that requires shared use of documents and robust security.

Richard Ellis

Richard Ellis is a Eurogamer reporter who is interested in streaming, people and communities, and providing marginalized individuals a voice.
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