Board document management is an essential element of the boardroom process. It encompasses a variety of functions, such as secure storage and distribution of board documents, meeting agendas, survey and voting tools and tracking tasks and the assignment of tasks for committee members. It can also help ensure compliance with governance requirements, while facilitating adhering to legal requirements and regulatory obligations.
A good board portal can make this whole process more efficient, ensuring that directors are able to focus on their fiduciary obligations and lead the company towards sustainable, long-term success. Using manual paper-based processes, or digital tools, that are not designed with board management at the front, could lead to inefficiencies, communication sylos, and disengaged board members.
A board portal that places security first will shield sensitive information and allow directors to collaborate and work safely even when they are not on site. It will notify directors of any new papers or changes, and allow them to search their entire collection of board documents on electronic media. It will allow them to save their private notes when viewing any of these papers, so that, even if papers are updated, they will still access the information they first viewed. It will also offer 24 hours all-year-round support from real people not just chatbots.
Directors will also be provided with an overview of meetings coming up and their preparations making it easy for them to plan meetings at times that work for everyone. They can also easily review their progress in any task assigned to ensure they don’t miss important deadlines or fail to meet their commitments.
http://onlineboardroom.org/board-documents-management-specifics-software-and-tips