Are there cracks showing in your board management? You may be noticing staff seem more overwhelmed than ever, onboarding new directors is just too slow and the potential of data leaks is rising. Technology can help with these hurdles, but at what point should you consider software specifically designed to manage your board meetings?
If you’re using email and free file sharing tools or using SharePoint, it could be time to consider investing in board portal software. Here are some standout challenges that bring board-led organizations to talk to us, and how board portal software can help.
5 signs it’s time to put a budget towards board meeting software
1. Board meeting prep is taking too long and staff are overwhelmed.
It’s no secret – planning and running productive board meetings takes a lot of time. It can amount to weeks of hard work – from preparing agendas, gathering reports, and sending out board packages. While your board meeting preparation effort is critical to ensure that directors are prepared and informed – has it become a frustration and time sink for board admin staff?
Board meeting technology makes corporate board administration simple and easy, reduces staff frustration and can cut hours off board meeting prep.
2. Onboarding next directors is inefficient and time consuming.
Board of director recruitment generally occurs year-round so it’s critical to get new members up-to-speed and contributing immediately. If your current onboarding starts with a 2 or 3 inch binder that’s constantly out of date, there’s a better and faster way for your new directors to learn and engage, and easier for you to update.
Board portals like Aprio put all the information a board needs into one, easy-to-access place including meeting minutes, committee contact information, and background materials. Unlike SharePoint or free document sharing applications, board management software presents information in a way that directors can quickly understand (and that includes directors who may not be particularly comfortable with technology).
3. You’re concerned about cybersecurity threats and data breaches more than ever.
While the shift to remote work has had many advantages, now that even executive teams are working from ad hoc home offices, data security risks are on the rise. Deloitte reports there’s been an escalation in phishing scams, hacking and ransomware attacks since the pandemic. Continuing to use email and file sharing sites like DropBox are simply poor choices when it comes to sharing board information.
Board meeting software provides you with ease of mind when it comes to data security. With Aprio, board directors login to review and discuss board documents and share updates instantly and securely via email using encrypted links. Aprio also decreases cybersecurity risks from human error including the power to remotely wipe lost or stolen devices.
4. You’re seeing a decline in director engagement and collaboration in your meetings.
Your board meetings look more like an update session than a lively, engaging discussion. Or you have the same two or three board members who are most active and take over the conversation. Does this sound familiar?
While board management software has many features that are convenient and easy to use, they also play a much deeper role in driving board engagement and productivity. With central access to documents, and easy search, directors find it more convenient to prepare for meetings and stay engaged in updates. They’re more likely to come to board meetings ready to provide input. Online tools such as messenger and voting ensures all board members participate.
5. You may be audited and are concerned about your compliance and record keeping.
If you were to be audited next month, would this be a welcomed activity or a nightmare to prepare for? If it’s taking staff too long to gather data for compliance reporting and audits or if you’re concerned that there may be gaps in your record keeping – board meeting software can help.
One of the main reasons to invest in board meeting software is to effectively manage regulatory compliance issues including how information is shared and recorded. Aprio’s board portal automatically archives meeting minutes, motions and board evaluations and provides an accurate audit trail of key compliance actions and dates. Your board will get a direct ROI by making it simple to gather information for reporting.
Is it time to put a budget towards board meeting software?
If your organization is facing any of these challenges, consider what you can gain by investing in board meeting software. Get started by building a business case for board meeting software.
We’d be glad to share the benefit and value we deliver. Contact us for a custom demo to see how board portal software can help you with faster meeting set up, convenient director prep, and improved board recruitment and onboarding.
Need more help deciding if you’re ready for a board portal?
Related blog posts:
- See our Security Guide for Boards to know the 3 common cybersecurity threats and practical advice to deal with them
- See why meetings are unproductive and how can you revive them
- See the top benefits of board portal technology in Board portal ROI – top reported benefits to boards
About the Author
Ian Warner, President & CEO
Ian has been leading Aprio since 2010 and believes in passionate leadership, values, transparency and personal accountability. Before joining Aprio, he was the COO of Canada’s largest credit union, Vancity. He is a lifelong learner and marathon runner.
