With increasing pressure on organizations to ensure they are following good governance practices, using a secure board management platform has become imperative for boards of directors across all industries. So, how does this software empower board decision-making?
How to improve the process of decision-making on the board?
Making effective decisions is the main task of a manager, regardless of the field of activity. A good manager should be able to make the right choice for the company’s benefit quickly. And do it often enough because decisions affect all four main aspects of management: planning, organization, motivation and control. As such, there is no universal, unified approach. You must choose a method based on the current situation, available resources and other essential points. Thus, the best way is to automate routine business operations and move them into a secure virtual space.
Preparing regular meetings of collegiate bodies can and should be automated for better decision-making and board effectiveness. Relevant is providing secure access to the necessary information from mobile devices. At the same time, secure access means encryption of the data and its transmission channel, following the requirements and using certified cryptographic information protection tools. Then it will no longer be necessary to print confidential information and transfer it in paper form (including between offices, between employees, etc.).
When the participants of the same meeting are in different offices or on vacation or business trips, a practical solution is for users to work in a single interface (application), providing mobile access to meeting documents and voting in person or absentia. For this purpose, board management software was designed. No need for personal attendance at a meeting in the central office, an alternative to audio and video conferences and, as a result, ensuring the smooth operation of each collegial body under the work regulations adopted in the organization – all these characteristics will help save time and money for the company.
Boardroom solution for quick and efficient decision-making
The Board portal is a document-sharing and collaboration tool that streamlines better decision-making. This easy-to-use cloud-based solution helps boards to work together securely from anywhere and on any device. In addition, the board portal speeds up the governance procedures and reduces the time for sharing and processing board documents and agendas. The members of multiple boards can easily switch between boards.
The software provides a single, convenient interface for the board members to study issues in the context of each meeting and collegiate body, with the corresponding instructions issued and control over the timing of their execution. Employees receive a tool for effective working time planning: a schedule of face-to-face and absentee meetings, deadlines for the execution of instructions, and reminders of the need to take a particular action or event.
The board portal is a comprehensive system designed for committees and collegiate bodies, allowing automated decision-making processes. The platform provides the following benefits for the board of directors:
- automating the adoption of strategic collegial decisions – from preparation to the issuance of protocols and control of instructions;
- tracking the entire decision-making process on one screen;
- conducting legally valid e-voting.
So, the most important members of the company’s management need access to their meeting documents under all circumstances. With the board software, it is not a problem. By the way, the boards using the latest technological tools are often perceived as more dynamic and forward-thinking.