Board governance is a set of rules that defines how a company is run. As companies expand and expand, the board process and meetings should be scaled up. Using old methods, like email and file-sharing apps can be costly and inefficient. Board management software can improve the efficiency of this process and allow board members to focus their efforts on what is most important taking decisions that will move the organization forward.
As opposed to traditional board book formats, digital board portals provide an all-in-one, secure platform for directors to access all meeting materials as well as communicate with one another. Board members can easily review and comment on documents in real-time, using an intuitive interface even from various locations or simultaneously. They can set up private or public discussion rooms and connect directly with one others via messaging tools. These tools let directors stay active prior to meetings, during and even after, so they come to the table with the information they need to make informed decisions.
Alongside an easy-to-use interface, board portals should offer first-class security and accurate uptime data. Data encryption and secure application hosting are a must as is the capability to track every action and upload to ensure compliance. Director’s will be notified when they are due to submit eSignatures, make votes on open approvals, or respond to surveys using features like reminders and notifications.
Govenda, a simple-to-use board governance software, is designed to make it simpler for administrators and directors to check off their obligations. The software is simple to use, offering an intuitive and well-guided experience as well as flexible dashboards. It offers enterprise-grade security, with AES-256 encryption of documents, multi-factor authentication, permissions that are based on roles and groups, remote wiping, permanent purge and audit trail.