Today, many companies rely on secure, scalable platforms for enterprise connectivity. The board portal software allows executives to adapt to changing market needs. This article is a comparative analysis of the best board portal solutions popular among modern boards.
Board software – the main management tool for modern executives
The modern world is developing quite rapidly. Those management tools that worked in the last century are now no longer relevant. At each stage of the development of an organization, from a startup to a corporation, its management tools are suitable. The development of digital technologies like board management software, covering all spheres of modern society, significantly impacts this process. The service helps to quickly go to video calls, edit documents, and communicate with team members in the news feed and groups. Such a platform offers valuable tools, including online documents, video calls, tasks and projects, and a secure cloud data repository.
The board software typically provides two important elements for the boards: transparency through an open, verifiable way of recording transactions and trust through the immutability of those transactions. These two elements are the most significant in the field of corporate governance. In addition, the software allows corporations to forego costly joint attendance meetings. The board software voting system can be arranged so the proposal is placed on the blockchain when the issue is put to the vote, and the corporation members are immediately notified. They can exercise their right to vote within a certain period. Voting results can immediately become available to all participants in the system after a very fast automatic fulfilment of the requirement necessary for making a decision. Corporation members can check their decision. It is assumed that electronic voting in, using blockchain technology in particular, will help solve the problem of shareholder involvement and significantly reduce transaction costs for the corporation and its participants. With blockchain technology, voting at the general meeting becomes even more transparent and reliable, thus further reducing transaction costs, and corporate members are more encouraged to participate in governance.
Board portal providers: comparative reviews
Sometimes, collaborating on documents online can bring even the most reserved board member to the boiling point. And all because people do not know about the existence of board portals that make such work much more accessible. So, how to choose virtual boardroom software and what are the most reliable vendors? Here are several alternatives that can help to organize the board`s activity productively:
- Diligent is a functionally rich service with a calendar, secure data storage, document editors, reports, messenger, meeting planner, and time tracker. The software offers all the necessary tools for real-time collaboration. It is worth noting that the Diligent board portal provides a wide variety of ready-made templates for arranging agendas and minutes; any other platform does not surpass this variety of templates.
- Boardable is online management software with an intuitive interface that makes remote work efficient and keeps the board team productive. This recommended platform successfully serves small and large teams and provides its users with instant messaging, video calls, group task management, file sharing, and real-time document editing.
- Convene is a project management software ideal for enhancing collaboration in a remote work environment. It replaces the many tools teams use to plan projects, manage tasks, share files, communicate with each other, track time, and organize the entire process with one powerful piece of software.