The Necessity of a Board Meeting Software

In the age of innovative technologies, the executive bodies are also striving to switch to a new digital meeting culture with the help of the board management software. So what is the key to making this digital transition smooth and successful? 

Why do the boards choose board meeting software?

Preparing for a board meeting can be demanding and sometimes even intense for the person responsible for organizing the meeting and its participants. For the organization of the meeting itself, it is fundamental to ensure that all necessary documents are shared with the board members in advance for days or weeks. From the participants’ perspective, all information must be updated and correct on time, as this is the only way for them to contribute their best to the session.

Because virtual technologies are a new reality, modern businesses are moving their operations into the online format. In this regard, security, a high level of data protection, and the ability to access documents within a short time are the most important requirements for organizing efficient board collaboration. The board management software covers all these aspects.

Fast access to any document is especially important for anyone who needs to search through many documents and analyze and interpret their data. Generally, executives such as board members or senior executives face the challenge of “information overload.” They are looking for the relevant information that will allow them to contribute positively to the board meeting despite the large amounts of data.

Board meeting software endures the following valuable functions:

  • determination of the list of meeting participants;
  • the possibility of collective discussion of agenda items;
  • sending notifications (invitations) to meeting participants by e-mail;
  • fixing the progress of the discussion and the decisions taken on the agenda items;
  • automatic generation of minutes of the meeting with the possibility of sending it for approval;
  • automatic formation of tasks based on decisions made at the meeting and distribution of tasks for execution;
  • distribution of the minutes of the meeting by e-mail to participants and interested parties;
  • monitoring the execution of decisions of meetings through the “desktop” of the user of the system, as well as using reports in the system;
  • voting module;
  • providing performers with access to meeting materials related to the assignment;
  • preparation of reports on the results of meetings.

What are the benefits of using board meeting software?

When companies consider implementing a board portal into their corporate information system, their attention is usually drawn to such advantages of this software:

  • With the board meeting software, the overall process became more flexible so that updates could be made at short notice if necessary. You can plan new board meetings online in the software and collect the most important data and agenda items there. A corresponding date is automatically generated in the calendar, and, if desired, a link to an event location is created.
  • You can create new agenda items in the meeting minutes and add a corresponding description. You can later make log entries for each item on the agenda and thus record the decisions, voting results, and comments.
  • A major advantage of the board meetings’ digitization is the opportunity for companies to reduce their paper consumption without compromising access to information. This experience has turned out to be very positive in this area, and paper savings are estimated to be high – between 70% and 80%.