Board management software is a software that streamlines the scheduling, execution and follow-up for meetings of the board. It is a vital tool for all businesses. It can improve governance and efficiency by facilitation of collaborative workflows and offering an audit trail of the actions made during meetings. It also helps streamline administrative tasks like creating agendas for board meetings, scheduling them, and dispersing materials to the board. It can also help support the most effective governance practices like including important discussions and decision-making into meeting agendas and including health and security as a standard item on the agenda.

The use of an online board portal for meetings also improves collaboration and communication between directors because they can talk about topics and discuss ideas in real time via video or chat. It is also easier to update and share documents and eliminates the need for physical boardbooks as all the information is available all in one place. Board management tools also streamline meeting preparation by giving directors the chance to review minutes and documents prior a scheduled meeting. Administrators can easily add relevant references to the virtual board book so that directors have instant access during a meeting.

When choosing a board management tool, it is important to consider how it fits to your company’s overall digital transformation strategy and objectives. If stakeholders are able to see how the new software fits with the other aspects of your business, then committing to it will be easier and the transition to it will be more smooth. You should also look for a solution with an initial trial period to try it before you commit to an annual subscription.