Today board software opens up a lot of opportunities and board of directors who use them to their fullest have no idea how they did without them before. What benefits do they provide to nonprofit businesses today?
What is a board portal?
The growth in the number of software products used by nonprofit organizations created the need to provide a unified environment for obtaining information from various software sources. To solve this problem, there are tools for integrating software applications. Modern business dictates new rules for communication with customers and business partners. Discussion of various nuances over the phone or during personal meetings is convenient and in demand, as before. However, when a need arises for the transfer of documents, the automation of some processes, and the provision of additional ones, additional funds are required. The best option, in this case, is the board portal solution.
Board portals and electronic data rooms are now enjoying great popularity. Ultimately, they enable secure access to all relevant documents and “tap-proof” collaboration with one another. More than three-quarters of the board members and supervisory boards stated that they already use a digital board portal. The reason for this is that a stock exchange listing often makes higher demands on the efficiency of the supervisory board.
The purposes of using board software by nonprofits
The main task of the board portal is to radically increase the productivity of the collegial bodies. This increase is due to the multiple accelerations of the search for corporate information: instead of hours of researching file folders on workstations and servers, the manager gets access to the necessary files within a few seconds. In addition to ultra-fast intracorporate search – its main advantage – the portal also provides other services that significantly increase work efficiency. They include informing and board members, group work on documents, automated business processes.
The goals of creating a corporate intranet portal:
- increasing the level of management and decision-making support by company managers by organizing the collection, consolidation, and analysis of the necessary information;
- creation of a unified knowledge base of the company, including aggregated information, the receipt of which requires a lot of time and resources;
- saving time and efforts of company employees;
- reduction of expenses and expenses of the company;
- increasing the level of communication and collaboration between employees of the company;
- support of processes for the unification and standardization of processes and procedures in the company;
- improving the quality of work and customer service of the company;
- increasing the competitiveness and investment attractiveness of the company.
Board software advantages for nonprofit organizations
The advantages of a digital board portal are obvious:
- All meeting documents are stored in a central location in encrypted form and can be viewed and commented on by executive and supervisory boards at any time. Sensitive documents are therefore not at risk of being stored on unsecured devices or e-mail accounts. If necessary, comments are shared with other committee members, which guarantees an efficient exchange of content even before a meeting.
- With the help of their smartphone or tablet, all members can conveniently access the portal while on the move and can easily navigate even through extensive meeting documents.
- Board portals also serve as evidence for decision-making processes and as a tamper-proof archive of meeting minutes. Confidentiality is thus also given for committee work since only authorized persons have access, but the administrator remains outside.