The biggest issue leading teams face on the daily basis is a lack of the communication. Busy directors have no time to update their colleagues thoroughly. Or simply forget to do that. Needlessly to talk about the importance of the streamlined data exchange within the company. Still, the same situation keeps happening over and over again. Directors gather for the meeting and begin it with long reports about processes that are held in their departments. When everyone is done with explanations, lots of time is already wasted and all members feel less concentrated. So the meeting becomes very inefficient – it takes a lot of time and solves not as many issues as it was planned to solve.
The board management software is a program that combines a lot of useful instruments. When utilized properly they can become a real game changer for the business.
Virtual storage for the confidential data
The board portal software is a perfect place to keep all the documents of your company. Why? Because it is convenient and, most importantly, perfectly safe. All files can be uploaded to the electronic repository with a simple Drag and Drop function. If you have them already organized into folders on your computer, you can upload all the system at once. So there will be no need to reassemble the structure again. If not – you can create a convenient folder system once all the documents are uploaded to the board portal.
There is no need for you to worry about hackers – such board software is reliably secured. Providers of virtual boardrooms implement the strongest encryption possible protecting their servers from malicious attacks. Usually, vendors would ask third-party security professionals to test the protection out and give their unbiased opinion on its reliability.
The biggest security advantage is that board app providers encrypt not only the virtual storage itself but data transfer ways as well. Thus, sensitive information can’t get stolen or corrupted in any way. It is protected from all sides and perfectly safe. So you can forget the scary term “data leak” – this will never happen to your business if you use virtual boardrooms.
Most data leaks, however, happen not because of the bad server security, but due to the fault of the employee. Not every user is responsible enough to keep their login data confidential. Also, they can catch some kind of a virus that will give the malefactor the access to all the passwords. Virtual board portals require two-factor authentication. It means that it is not enough to simply enter the login and the password to get into the software. The user has to prove their identity by entering the code that is sent to their phone upon logging in, for example. There are a lot of ways of executing the two-factor authentication. But all of them give the same result – even knowing the login data the hacker won’t be able to get into the electronic storage.
Build effective communication
Board portal offers a lot of meeting management tools that allow creating a nice and steady data exchange. Not only all participants of the leading team can access the needed document at any moment and from any location. They also can interact with each other within this software. And since only those who have an access can enter the virtual boardroom, directors can be sure – no one will read sensitive conversations.
Members of the board can talk in chat tagging needed documents to follow their messages. It is very convenient since others won’t need to go to the storage and look for the mentioned file. If a smaller group of directors wants to discuss some issues that are related only to their departments, they can create a custom chat. Thus, they will not distract others with their conversation.
Also, directors can create and handle votings with the built-in voting tool. Using it they can make decisions on some minor issues without gathering an offline meeting. It will save time and efforts for everyone. The same instrument can be used to schedule the next event – creating a vote will help pick a convenient time so everyone can show up.
The communications on the board are important, but we shouldn’t forget about outside relationships. The administrator of the virtual board portal can create a separate room for partners or investors to share needed documents and handle discussions. It allows creating a steady relationship while keeping third-parties away from knowing all the processes that are held in the company.
Improve the performance
After the decision is made directors can create tasks in the virtual boardroom and assign them to executives. It will help everyone understand what should they do. Also, it will be easy to track the activity of every director and employee. Everything that is held within the board portal goes into statistics. Eventually, directors can create reports that will show the effectiveness of employees and departments. Such data will help spot issues and make better decisions in the future.
Synchronize with other apps
Most board of directors portal providers aim to make their software compatible with the most popular business tools. It allows to synchronize all programs and make them work as a solid and efficient system. It will provide businesses with better insights and more possibilities to make the company more effective. Having everything working together is great. And once you try it you will be never able to go back to the old style of management.