Gartner predicts that 80 per cent of board-run organizations use collaboration systems that are specifically intended to support the unique needs of a board. So what is the value of board portal software and how do you pick a tool that’s right for you? Read our board portal feature comparisons.
Years back, paper board binders being heavy to lug and costly to produce and courier was a major motivator for companies to go paperless. Today, there are more modern drivers making boards adopt board portals: security and efficiency.
“The use of purpose-built content sharing and distribution portals has become a common practice for sharing sensitive documents with corporate directors in preparation for board meetings.”
Emailing board documents or sharing with free editions of software like Dropbox or Google Drive poses real security risks. More sophisticated file-sharing solutions like SharePoint often frustrate directors who struggle to find the right materials within unfamiliar folder names and labelling conventions. On the efficiency front, many boards are seeking to best engage high-contributing directors, which means offering online convenience. And for organizational efficiency, corporate secretaries and administrators are seeking automation tools to perform their work in less time as governance demands grow.
In case you haven’t already used board portal software, it’s like a web application that executives and directors log into to perform their role for an organization’s Board of Directors. A board portal offers directors confidential access to board materials, past and present, and provides tools that make it easier for administrators to prepare for board meetings and conduct committee activities. Board portals also improve information flow to and among busy board members even as they travel.
There are many different board portals available on the market. How do you choose one right for your organization?
As Gartner reported in their Market Guide for Board Portals, “The majority of boards have very similar processes, and board portals have very similar feature sets.” With most board portal software performing similar functions, it’s very important to evaluate service, pricing and track record with organizations similar to yours.
Conduct a smart, efficient board portal product comparison with a simple checklist. Use the Board Portal Buying Guide to find a tool that’s right for you.
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