Would you like to increase the efficiency of convening and holding meetings of any collegiate bodies of the company? Do you need to organize an electronic archive of documents and decision histories on the agenda of the meetings? In this case, board portal is the best solution. This article is an overview of the board management software pricing models.
How does board room work?
Nowadays video conferencing software and other online meeting platforms have become a must-have for organizations doing business around the world. These applications ensure that employees can work from home as well as from another country. This eliminates the hassle of working across different time zones, as well as moving and renovating an office.
Board portal is a software application for collegiate management bodies of large and medium-sized companies, investment and venture funds, as well as government agencies. This is a convenient, thoughtful and secure system for organizing the entire decision-making process, which increases the efficiency and effectiveness of the work of collegial management bodies, such as Boards of Directors, committees and management boards.
At the heart of the board management software is the idea of “questioning”. The issue is the key entity around which the work of the collegial body is organized, and the issue circulation is a technology that provides support for the entire life cycle of the issue: from its inception to decision-making and execution of instructions. At the same time, the system improves the efficiency of management activities by ensuring the availability of data, transparency and automatic control of the actions necessary to achieve the result.
Advantages of board portals
There are the common reasons why companies choose board rooms:
- Increasing convenience and comfort – for members of collegiate bodies and the organizer of the meeting during the preparation and conduct of the meeting;
- Efficient scheduling – reduce the risk of meeting cancellations due to lack of quorum;
- Universal technology – with the board portal it is possible to hold meetings both in person and in absentia, for any collegial bodies of the company;
- Additional freedom in matters of corporate governance – the system allows meetings to be held both with online voting and with paper ballots;
- Prompt convocation and quick decision-making – electronic voting can significantly reduce the time;
- Electronic document management and archive of documents – all meeting documents are drawn up and provided to participants in electronic form;
- Online voting at meetings regardless of location. Information about the voting process in real-time;
- Adaptive interface for use on different devices of different operating systems;
- Electronic archive of materials of sessions. View the agenda and materials of upcoming, current and past meetings;
- Online chat to discuss agenda items with the preservation of the history of communication;
- Observer can view the materials of meetings of collegial bodies and monitor the voting results. For holding companies, this is an opportunity to control the corporate activities of subsidiaries online;
- Built-in editor, allows you to format text by creating tables, lists, decorating in various fonts.
How does free board portal software work?
The market of board rooms solutions offers a wide choice of providers. Among the leaders, there are Boardable, Digify, iDeals, BoardPro, Boardmaps, etc. If you are stuck on choosing a particular provider and start from the price, you should pay attention to the following criteria that determine the pricing policy:
- customizable interface
- voting function
- customer support.
Besides, almost all software providers have a free trial version for 1 month, so you can test the software, and decide if it is suitable for your company structure.