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Board management software is often called board portals and is designed to simplify the running of a corporate board. It automates everyday tasks such as scheduling meetings, sharing materials and dispersing meeting minutes. It also offers tools to help directors collaborate effectively with each other in person as well as online. While some companies offer all-in-one solutions, others require that users purchase additional integrations to cover specific functions. This article highlights five of the features of the board management applications basing their ratings on feedback from verified software users. It also highlights the best-rated products in each category.
The document management feature centralized and organizes all documents related to the board in a single repository, improving the management of information and efficiency. It also offers collaboration features such as real-time comments and annotations, which enable members to review documents at the same time and facilitate faster feedback and decision-making. This feature also comes with version control and access controls, which allow administrators to establish levels of access for files and documents.
Security is an important consideration for any company that is considering adopting new software. This is especially important when software handles sensitive data. The majority of freeware comes with no encryption. This leaves boards exposed to security breaches that could cause financial losses and reputational damage. It is recommended that you only select a solution with an encryption level of 256 bits or more.
A good board management software can help reduce administrative burden and increase efficiency, allowing more time for important projects and initiatives. However, choosing the right solution requires careful evaluation and research. Apart from evaluating the capabilities of every tool, it’s important to consider how well each tool integrates with your existing technology stack.