The ultimate guide to governance software for effective board management

From protecting the security of board documents to maintaining regulatory compliance, more organizations are using governance software to enhance how the board operates. How might governance software improve your board’s efficiency and security?

If you’re considering implementing governance software, see our comprehensive guide on governance software for boards. We’ll walk you through the benefits, essential features and implementation strategies to help you choose the best-fit solution for your organization.

Or skip ahead to the following sections:

• What is governance software?
• What are the benefits of implementing governance software for boards?
• What are the key components of effective governance software for boards?
• Choosing the right governance software for your board
• How to implement governance software successfully
• Why consider Aprio board governance software

What is governance software?

Governance software is a specialized type of technology designed to support and streamline board’s governance processes, most often related to board management and corporate oversight. It typically includes tools to help organizations manage their board meetings and activities, ensure compliance with regulations, facilitate decision-making and enhance overall corporate governance.

Key features of governance software often include:

• Meeting scheduling and management
• Board communication tools
• Document storage and sharing
• Voting and resolution tracking
• Compliance monitoring and reporting
• Risk management features
• Policy management
• Performance tracking and analytics

Directors we’ve spoken with emphasize three key elements for governance software: ease of use, robust data security and scalability to accommodate their future growth. The most effective governance solutions not only address current challenges but also position boards for long-term success.

Types of governance software

There are several types of governance software, with each focusing on different aspects or niches within organizational governance. Some of the most common include:

• Board portal software focuses on board management and communication and includes features for document sharing, meeting management and secure messaging. Aprio board portal software is an example of this type of governance software.
• Corporate governance software covers overall corporate governance and includes features for risk management, compliance and policy management.
• Compliance management software specializes in ensuring adherence to laws, regulations and internal policies and includes features for policy management, audit trails and reporting.
• Risk management software focuses on identifying, assessing and mitigating organizational risks. It includes risk assessment tools, scenario planning and risk reporting.
• Data governance software facilitates the management and control of organizational data assets with features for data quality, metadata management and policy enforcement.
• Policy management software helps create, distribute, and track organizational policies and includes version control, policy acknowledgment and policy lifecycle management.
• Audit management software supports internal and external audit processes with features for audit planning, execution and reporting.

Board governance defines the roles and responsibilities of board members and executives. Governance software includes board portal software that helps streamline board meetings and ensures secure communication.

What are the benefits of implementing board portal governance software?

Board portal governance software significantly boosts efficiency and productivity and offers benefits that go well beyond basic compliance. By centralizing board-related activities—from document management to meeting scheduling—governance software offers numerous advantages for boards, helping them operate more effectively and efficiently.

Here are some of the key benefits of governance software:

Improved efficiency and productivity

Governance software significantly enhances board efficiency by centralizing information and streamlining administrative processes. Board members can access all relevant documents, meeting materials, and historical data in real time and one secure location, allowing directors to be better prepared for strategic discussions. It also saves time in preparing for board meetings with features like automated agenda creation, instant distribution of materials and updates to board members via secure links, minute taking and reporting.

Enhanced transparency and accountability

By providing a clear audit trail of decisions, discussions and document changes, governance software promotes transparency and accountability. It also ensures that all board members have equal access to information, fostering a culture of openness. Additionally, features like task assignment and tracking help hold individuals accountable for their responsibilities, ensuring priority action items are completed on time.

Better compliance management

Governance software helps boards stay compliant with regulatory requirements by providing tools for policy management, compliance tracking and reporting. With features like automatic archiving and auto-generated commonly used board reports, board governance software makes it easier for board administrators to compile and submit required compliance reporting.

Streamlined decision-making processes

With all relevant information readily available and easily accessible, boards can make more informed decisions faster. Governance software often includes voting and polling features, allowing for quick consensus-building on urgent matters.

It also facilitates better collaboration and decision-making among board members, enabling them to share insights via document annotation or discussion in a secure, dedicated space.

Cost savings and ROI

While implementing governance software requires an initial investment, it often leads to significant cost savings over time. Increased efficiency in board operations can lead to time savings for both board members and support staff. Improved decision-making and risk management capabilities can also prevent costly mistakes, contributing to a strong return on investment for the organization.

For some more traditional boards, by reducing the need for paper, printing, and physical storage, governance software enables organizations to cut down on material and administrative costs.

If you’re curious about the investment required for board portal software, request a quote.

See related: Building a business case for board portal technology

What are the key components of effective governance software for boards?

Solutions like Aprio’s board governance software typically include a number of capabilities to support good governance.

Board management tools

These tools form the core of board governance software and provide a single platform for managing board activities. They include features for maintaining board member profiles, managing term limits, succession planning and coordinating committee assignments. Board management tools help streamline administrative tasks and ensure that the board operates smoothly.

Document management and collaboration

A robust document management system is essential for effective board governance. This component allows for secure storage, easy retrieval and controlled sharing of board documents. It typically includes version control and role based access control.

Meeting management and minutes

Productive board sessions start with efficient meeting management. Governance software for boards includes features for scheduling meetings, creating and distributing agendas and board materials and managing attendance. It also provides tools for taking and approving minutes, often with templates and automation to speed up the process. Additionally, integration with video conferencing platforms can help ensure remote meetings run smoothly.

Voting and resolution tracking

Governance software often includes voting and resolution tracking features to facilitate decision-making. These features also allow for secure electronic poll type voting on board matters and can be used during in-person meetings or virtually. The software records board votes and provides a clear audit trail of all board decisions. This ensures that all resolutions are properly documented and easily retrievable for future reference.

Compliance and policy management

Given the increasing complexity of regulatory environments, boards need to stay on top of regulatory requirements, manage and distribute organizational policies and track compliance-related tasks. Governance software for boards may include features like compliance calendars, policy acknowledgment tracking and automated alerts for upcoming deadlines or policy reviews.

Reporting and analytics

To provide insights into board performance and operations, effective governance software includes robust reporting and analytics capabilities. This allows boards to generate reports on various aspects of their activities, from meeting attendance to tracking board decisions, and even board engagement via login activity. This can provide valuable data to support continuous improvement in board governance.

Choosing the right governance software for your board

Choosing the right vendor can have a direct impact on the effectiveness of your board meetings and your overall board governance. Here’s a quick guide to help you select the right solution.

Step 1: Assess your organization’s needs

Start by evaluating your board’s specific requirements. Consider your current pain points, workflow inefficiencies and governance goals. Keep in mind your board’s size, how often you meet and any particular compliance needs.

For example, a health clinic board will have special data privacy needs including compliance with HIPPA or HRSA and should consider a board portal for healthcare. An international board, like the United Nations Federal Credit Union, might highly value integration with multi-virtual meeting tools and data security.

Step 2: Identify must-have features

Look for software that offers essential features that align with your board’s processes. While most board software will include central document management, agenda creation and meeting scheduling, depending on how your board operates, your board may value features such as:

• Online voting
• Surveys and polls
• Minute taking
• E-signatures
• Chat
• Board reporting
• Task management
• Annotations
• Mobile apps

Buyer beware, it’s common practice for board software to have tiered versions of their software, and you may need to upgrade your package in order to gain access to more advanced features.

With Aprio board software, we offer all the standard tools and features to better manage your board: a library of current and past board materials, minutes builder, agenda builder, calendars, annotations, audit reports, decision tracking, desktop and remote access, attendance reports, and much more – with access to both desktop and mobile applications for every customer. Choose to hide any features until you’re ready to use them and unhide them when you’re ready to scale with no surprise add-ons or change in your subscription cost.

Step 3: Prioritize security and data protection

Given the need to protect sensitive information, opt for software with strong security measures to safeguard board materials. Look for features like end-to-end encryption, multi-factor authentication and compliance with relevant third-party certifications such as ISO 27001 and SOC Type 2.

See related: Cybersecurity and board portal protection: an audit for IT

Step 4: Assess user experience

Select software that will be simple to use and easy for board members to learn. A user-friendly solution will encourage user adoption and minimize frustration. Assess the software’s ease of use in demos and look for a solution with an intuitive interface that board members can easily navigate.

“Aprio’s board portal platform is very easy to use, training is easily obtained and customer support is quick when requiring help. The software has a lot to offer, you can use whatever features suit your Board best. The implementation process was flawless and the onboarding and integration of new Directors to using the software is simple.” – G2 review

Step 5: Consider vendor support

As you narrow your list of software vendors, research each vendor’s track record. Look at customer reviews as well as the support services you’ll have available.

Buyer beware: not all board portals offer the same caliber of responsive customer service, and often, support and training are an add-on cost. Because a board portal is used by some of the most influential and time-starved people in your organization, it is paramount that product support is highly professional, responsive and helpful, any time you need it.

Step 6: Analyze the cost and ROI

Better technology and service can come at a slightly higher price. Be sure to consider your goals with the governance software, not just grab the cheapest deal.

It’s become common for software to have basic, professional, and enterprise editions, for example, with different features and support options.

Product pricing is extremely important in order to truly weigh your potential ROI and make a solid argument when building your business case. When assessing the software’s value, factor in time savings, improved decision-making and reduced administrative costs. Ensure you choose a solution that fits your board’s current needs but also supports its future growth and evolving governance requirements.

How to implement governance software successfully

Introducing new software to your organization requires careful planning and execution to ensure smooth adoption and maximize the benefits. For introducing governance software to your board, here are some things to consider:

Plan and prepare

Thorough planning helps anticipate potential challenges and ensures a smoother transition. Before rolling out the new software, consider developing a comprehensive implementation plan that includes:

• Define clear objectives and success metrics
• Create a timeline for implementation phases
• Identify key stakeholders and their roles
• Map out current processes and how they’ll transition to the new system
• Prepare your data for migration to the new platform

User training and onboarding

As board members may have varying levels of tech-savviness, offer a mix of training methods, including live sessions, video tutorials and written guides. If possible, tailor training to different user groups (e.g., board members, administrators) and provide hands-on practice sessions to build user confidence. Your software vendor should also provide you with a resource library for ongoing reference and support.

Additional best practices for adoption

Implementing new software can often mean changing established routines and habits, which can meet resistance. Communicate the benefits of the new system clearly and frequently and address concerns and questions promptly and transparently. Celebrate early wins and share success stories to build momentum where possible.

To encourage widespread adoption and maximize the software’s benefits:

• Set clear expectations for software use in board activities
• Integrate the software into your existing board processes and workflows
• Regularly solicit feedback from users and act on improvement suggestions
• Monitor usage analytics to identify areas where additional support or training may be needed

Why consider Aprio board governance software

While most board management software may seem the same on the surface – there are big differences in value, customer service and ease of use. Here’s a rundown of how Aprio offers better value than its competitors.

Aprio delivers an easy-to-use, secure board portal with unmatched service

Aprio stands out in the industry for providing an easy-to-use secure board portal and unmatched expert service. With a seamless onboarding experience and unlimited on-demand training, we make it simple to migrate from other board portal solutions or in-house systems or to get you started with technology.

All of our board software licensing pricing includes initial training for administrators and directors, and any ongoing training you may need to set your board up for success. Our starter subscription includes 20 user licenses – any number of which can be administrators — and unlimited committees at no extra cost.

We offer all the premium tools and features you need to better manage your boards: a library of current and past board materials, minutes builder, agenda builder, calendars, annotations, audit reports, decision tracking, desktop and remote access, attendance reports, and much more – with access to both desktop and mobile applications.

We’re always around to help you (24 hours a day, 7 days a week)

We know how frustrating it is to encounter unhelpful — or even rude — customer support representatives when under a time crunch while preparing for a board meeting. You definitely don’t want that happening to your board directors.

Got a burning question at 11 pm and your board meeting is tomorrow at 8:30 am? We’ve got experienced board administrators on the other end of the phone or computer 24/7 to help you with advice or to walk you through a challenging task. Providing you with prompt, accessible and exceptional service is our priority.

We understand a board’s needs

We know that administrators and directors need access to easy-to-use technology that makes maintaining good governance straightforward. Board members and administrators are busy and hardworking, and we aim to support you with superior service and user-friendly software to run your board meetings smoothly.

Credit unions, banks, healthcare organizations, educational institutions and public companies choose Aprio board portal software because it helps them achieve transparent communication, make efficient decisions and run board meetings well — all for the best value in the industry.

“Ease of use is big. As an administrator, I never found Diligent to be user-friendly, but the board was used to it so we stuck to it. Still, I heard from directors that they couldn’t find minutes easily within the Diligent software. Aprio is simpler to use, and as valuable to us as the technology is – the exceptional support from the Aprio team makes a huge difference. We had a few challenges getting up and running but any concerns were solved very quickly. Since then, we’ve had no issues. We know though, that if any concerns arise, we will be well cared for.” – Sylvie Lemieux-Comtois, Human Resources Manager and Board Administrator, Fort McMurray Airport Authority

Enhance your board governance with Aprio

Want to make good governance simple? See Aprio in action – the board portal platform making good governance simple with 95% customer loyalty.

We’d be happy to assess your needs and the fit with Aprio. Get in touch with us.