Improving the efficiency of the board of directors allows organizations to respond to external challenges and opportunities on time. This article will consider how the board software can help the boards to manage the real-time challenges efficiently.
The board of directors: challenges of the digital age
Over the past few years, digital transformation has infiltrated every organization. Companies have either already embarked on a strategic transformation or plan to do so in the near future. And if earlier the question of the need to increase digital maturity was a lot of the most daring, today you can find clear evidence of a direct relationship with financial results.
Nowadays, the effective functioning of the board of directors depends on how its participants work at meetings. Namely, attendance at meetings, compliance with its regulations, including the time for reports and decision-making, preparation of reports and reports on time, with decent quality and in the required format, mandatory preliminary preparation for meetings by familiarizing themselves with its agenda and materials. If the discipline of the board participants in the implementation of the regulations and the development of decisions is not great, then the effectiveness and meaning of the formation of the board as a whole drop sharply. Thus, modern companies look for innovative digital solutions to organize the online board meeting productively and securely.
Board management software: how to make the board more efficient?
The board software is a ready-made centralized expandable solution for automating the workflow of the boards and archives of geographically distributed organizations. The system includes a unique set of functionalities for the comfortable daily work of collegial bodies. Moreover, it implements an innovative approach to automation that ensures fast and reliable operation.
The software for board of directors presents a unique set of features for comfortable daily work:
- Management of all types of electronic documents and their paper copies;
- Managing the archive of electronic and paper documents;
- Working with tasks;
- Control of the execution of instructions on documents, control of the execution of documents;
- Secure file storage;
- Organization of email correspondence;
- Work in a corporate social network and online communication;
- Automation of many processes of work with documents and data;
- Creation of a single information space;
- Formation of customized reports;
- User support is automated within the system.
What are the reasons to choose board software?
The software for boards of directors helps the boards to manage the real-world challenges and make their activity more productive and transparent by offering the following advantages:
Corporate work in the board management software helps the organization’s management eliminate the loss of information and control the decisions of collegial bodies. Besides, all business-critical data is protected by the most reliable security measures. They are encryption, two-factor authentication, data access control, and digital watermarks.
- Control over execution of decisions
Automating the management of meetings in the board portal eliminates situations of non-execution of the adopted and recorded decisions. An employee appointed as a controller for the execution of the decisions of the meeting can always track the execution progress using the capabilities of working with instructions from the “Chancery” module. In addition, various analytical reports allow board members to schedule meetings and evaluate their effectiveness.
- Productive online board meetings
The board software is beneficial in preparing board meetings and working with their results. This business solution allows board members to eliminate disruptions due to the unavailability of employees or their absence from the workplace. In addition, the software ensures a secure platform for better collaboration between board members.