Virtual board portal providers have constantly been adapting to the changing practices of corporate governance. Thanks to customer feedback and innovation from developers, the virtual boardroom industry has been producing futuristic board portals to facilitate boards and administrative bodies in every possible way.
Modern board portal software is secure data repositories with highly advanced meeting management, data management, and monitoring tools. Although there are so many features in a virtual boardroom, we are going to explain some of the most useful ones to you. Without further ado, let’s dive in.
What are Board Portals?
Board portals or virtual boardrooms are centralized and highly secure virtual platforms and data repositories where boards and senior company officials can store, access, share, edit, and download board materials and corporate documents.
Board portals help board members virtually collaborate in all possible ways, including online meetings, group chats, private chats, document sharing, etc. In a nutshell, a virtual boardroom is a solution designed to make governance smoother for corporate leadership.
Important Features of Board Management Software
Modern board portals come with unique features that help with online board meetings and streamline the document management process. Here are some of the most notable ones.
Digital agenda builder
Creating an agenda for the meeting has been made simple by board portals. The board management can either use default templates, edit them, or create new ones and save them for future use. The board secretary can either separately share the agenda with all participants or upload it and tag concerned users.
The meeting manager helps the administration to perform multiple activities such as adding meeting details, linking calendars, tracking attendance, attaching meeting documents, and conducting remote meetings.
An easy-to-navigate and comprehensive dashboard is one of the most critical features in any board portal. It basically helps users monitor every vital activity in the boardroom, such as notifications, alerts, calendars, valuable documents, etc.
Managing meeting minutes is a time-consuming and tiresome activity, but board portals have greatly simplified this process. Board management can use built-in meeting minutes templates or develop their own.
The best part? The board secretary can immediately share meeting minutes after getting them signed electronically by the board president/chairperson.
Board book creation
Board books are arguably the most important documents for any board. With board management software, the boardroom administration can create digital board books by adding different types of files (audio, videos, documents, etc.) and easily link them to digital agendas and meeting minutes.
Searching a file from virtual board software is as easy as you like. You can simply locate a file by using the file name, phrase, keyword, file type, groups, or data range. So, if you don’t remember the name of a file, you have other options to locate it.
The virtual boardroom can generate complete reports of all the activities in the boardroom, including document statistics, user details, meeting attendance, permissions, and whatnot.
Users can create, assign, and manage their tasks to streamline their workflow; the task tracker keeps teams or group members updated about work progress.
Voting and approvals
Members can electronically vote on any motion started or issue raised. They can approve or sign any document via electronic signatures.
Virtual boardrooms allow the board to create dedicated personal email addresses for all members and share sensitive data via emails.
Board administration can conduct online surveys to improve something or take feedback from board members. Board portals have practical templates for questionnaires, and the board can edit them according to their needs. Management can view survey progress and send reminders to the members.
Boardroom users, depending on their document access permissions, can add private and public notes or annotations to any document. They can highlight a specific portion in the documents or drop pins.
Most cutting-edge board portals automatically convert different types of documents into PDF format, making it easier for the members to view them.
File format support
Users in virtual boardrooms can upload files in multiple formats, such as documents, audio, and videos. Most popular solutions support the majority of modern document formats, so there will be no need to modify them.
Signing agreements, contracts, or other important documents online is now possible with board portals. This is why modern boardroom vendors have introduced electronic signature features.
Presenter mode is very useful during online board meetings. Meeting participants can manage their presentation flow and easily pass the control to other users.
Notifications and alerts
Users can send and receive notifications on all important activities in the boardroom, including meeting notifications, document edits, calendar events, group chats, personal messages, etc.
Security and permission settings
Boardroom management can set access restrictions, limiting a user or group from accessing a specific file, folder, or a particular section of any file. The two-step verification feature restricts unauthorized entries in the boardroom.
Digital watermarks are useful in tracking any changes made in a file by other users and help trace the original creator of the file.
The remote purging feature is handy in removing all the files (even the downloaded ones) from a lost or stolen user device.
From the features mentioned above, it is safe to say that virtual boardrooms are not only secure but can save time by streamlining complex corporate governance processes and helping board members focus on more important things.
Here is the link to learn more about board management software boardroomworld.net.
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