Comparing Board Management Software: Top 5 Considerations
A board portal is a governance software solution that provides boards with a secure platform for conducting all aspects of board business. Board portals are paperless solutions that do far more than support good governance. They provide a cost-effective, efficient means for sharing agenda items and meeting minutes online, in real time, and using any electronic mobile device. While that sounds great, there are several things to consider in a board management software comparison.
With the evolution and sophistication of technology have also come issues of cybersecurity risks, which can cause a host of negative consequences for boards, including loss of personal data, diminished competitiveness, loss of reputation, fines, penalties and more.
Essentially, board portals provide the utmost in board efficiency, security and convenience. Today, private, public and nonprofit entities have many board portal providers from which to choose. Here are five of the top things to consider when doing a board management software comparison for your organization:
High-Level Security
In recent years, the media has reported numerous pieces on security and data breaches for corporate and nonprofit organizations. As hackers work around the clock hoping to discover an opportunity to break through the electronic security gates to gain access to information systems, board directors are becoming increasingly concerned about the risks of theft and extortion.
Board portals with strong security measures will highlight features such as third-party penetration and security testing and long-standing third-party certifications. Board portal providers should be able to ensure their clients that their data gets encrypted in the data center, in transit and on users’ devices with at least 128-bit encryption. Each client should have an individual set of keys to protect their data.
In doing your board management software comparison, board directors’ security shouldn’t compromise user-ability or intuitiveness, and they should be able to access data online and offline.
Adoptability
One of the weaknesses of technology is the inability of users to understand it well enough to adopt it and use it for the intended purpose. Convenience is important for busy board directors. They’re using multiple electronic mobile devices and they’re interested in replacing paper with electronic applications as much as is practicable.
One of the keys to adoptability is having access to electronic applications that are intuitive and easy to use. Board directors are more apt to use board portal technology when they have the confidence to use every feature as it was intended to be used. That confidence comes with a company that provides customized and individualized training opportunities.
When things go awry, board directors want the assurance that they have access to live support at any time of day or night.
Reputation and Service
Board software isn’t the type of product that you can order from an ordinary retailer. Governance software solution providers need to have tenured experience in the world of governance. In doing due diligence in a board management software comparison, it’s important to know whether the provider is an industry leader with many years of experience in the field. You can recognize top governance software providers by how long they’ve been in business and by which top clients place their trust in their company.
Leading board portal service providers don’t outsource their customer service teams. Top-quality board portal services will have qualified customer service representatives standing by 24/7, 365 days a year, to help with problems. Customers shouldn’t have to sit on hold for lengthy periods or wait for a call back to get their questions answered.
Governance
Governance and compliance are hot-button issues for corporations, non-profits, hospitals, colleges, universities and nearly every other type of organization. Today’s boards need the ability to share notes and annotations with their peers using a secure platform. Because board portals work outside of board meetings, it reserves precious time for strategic planning. Having the ability to sign documents electronically is a huge time savings for boards of directors.
One of the most appreciated features of a board portal system is having the ability to make real-time updates. In the days and weeks before board meetings, it’s common for there to be many changes to the agenda. The most efficient board portal software systems afford directors and board administrators the ability to make updates at any time of day or night and to access updates and changes immediately.
Functionality, Features and Innovation
Your board management software comparison wouldn’t be complete without considering the functionality, features and innovation that a board portal service provider offers now and in the future.
Board portals should be able to streamline routine board activities, such as preparing board agendas and handbooks. Minute-taking software is also a valued feature. Minute-taking software creates efficiency in recording board meetings and prevents problems with discoverability.
Having the ability to take electronic surveys built into the board portal systems is an efficient way to perform board self-evaluations, aid in strategic planning, assist board committees and much more.
Board directors need to be in constant communication with each other, especially in times of crisis. Personal and business email accounts simply don’t offer the necessary security measures that board director communications require to protect the organization. A fully integrated software communications tool is necessary for confidential, secure board communications.
BoardEffect Meets the Top 5 Considerations in Board Management Software Comparisons
BoardEffect has been an industry leader in board management software solutions since 2007. The company has made a commitment to maintaining the highest security standards, including 256-bit encryption and regular third-party penetration testing.
The BoardEffect board portal system is user-friendly and highly intuitive. For those that need a little extra training assistance, BoardEffect offers multiple customized training options. Board directors can access their board portal using their choice of electronic mobile devices anywhere they happen to be, and they can easily access documents online or offline. The latest information is just a click away, as director can make their updates in real time and immediately view the updates of their fellow board members.
The board software products from BoardEffect assist board directors in preparing for and holding board meetings according to good corporate governance standards. A BoardEffect board portal offers the easiest applications for scheduling, approvals, tasks and unlimited online storage. If there’s ever a problem, help is just a phone call away with the 24/7/365 customer service team.
There’s no need to look any further. A BoardEffect board portal system allows board directors to connect between meetings in a secure environment using a variety of electronic means. The top five considerations are wholly convincing that BoardEffect is the exact fit for you and your board.
