Board management software (also referred to as board portal software) is a specially designed application that provides boards of directors as well as senior leadership teams with a secure way to share, access and manage data. It helps them streamline their decision-making process and allows them to communicate more effectively with each other and external stakeholders.
The most effective board management tools help boards manage meeting agendas and prepare for upcoming meetings. The best tools allow board members to go through important documents prior the meeting, and post questions or comments during the meeting. Some of these tools have a video conferencing feature that allows board members to attend meetings from anywhere and to interact in real-time others.
Those who have experience working using these types of tools frequently say that they improve the effectiveness and efficiency of meetings, as well as the quality of decisions made by the board. It is essential that the board of directors pick the solution that has been created with good governance in mind, and that it is utilized by all stakeholders to support better decision-making.
It is important that all the stakeholders including the IT team, spend time in learning to become familiar with the software. Additionally, search for options that provide an initial trial period for free and are compatible with the devices you use frequently. This will make the transition to a different tool smoother and more effective.