Board document management is an essential component of the boardroom procedure. It covers a range of tasks, including secure storage and distribution of board documents, agendas for meetings as well as survey and voting tools as well as task tracking and the assignment of tasks for committee members. It can also guarantee compliance with governance by facilitating compliance to legal requirements and regulatory duties.
A good board portal can improve the overall process and make it more efficient and allow directors to concentrate on their fiduciary obligations and guide the organization towards long-term sustainability. Relying on manual, paper-based processes or digital tools that have not been designed with the board’s management in mind often leads to inefficiencies, communication barriers and disengaged board members.
A portal for boards that is geared towards security will safeguard sensitive information and allow directors to collaborate and securely, even when offsite. It will notify directors of new papers and updates, and allow them to search their entire archive of electronic documents for board members easily. It will allow them to save the notes they made when reading any of these papers to ensure that even if the papers are updated, they will still access the information they first read. It will also provide 24/7 year-round customer service from real people, not just chatbots.
Directors will also be provided with a dashboard which displays the dates of their meetings, their planning activities, as well as the times they are available to attend. This allows directors to set meeting board document management application times that are convenient for everyone. It will also let them quickly assess their progress on any tasks assigned to them, so they don’t miss deadlines or fail in following through on their commitments.