The Benefits of Board Portals
Board portals offer advantages that go beyond digitization of paper documents. They help directors to plan meetings, manage tasks and collaborate with fellow members, empowering them to uphold and improve governance in specific ways.
If a director receives an alert from the secretary of the company informing her that the board papers are now available on the portal, she is able to review them over the weekend or even on a Tuesday afternoon, in order to be ahead of agenda and take notes on the most important issues or questions. She can also use the portal’s real-time analytics to understand how directors engage with information prior to the meeting and to see how much time they are spending on each piece of paper or section.
This is particularly beneficial directors with a hectic schedule who have limited time to devote to the board. A well-designed portal can be accessed via any device, at any time. Additionally, since most board members are already using the devices they’re used to for other online services and services, it doesn’t require any steep learning curve to navigate.
While ease of use is an important factor for most directors when choosing board collaboration software, there are other features that are equally important to consider when evaluating different vendors. For instance, some portals provide tools that enable directors to vote and keep records of their decisions. This reduces the time spent by the company secretary and makes it easier for the board to make changes between meetings.