What is a Board Portal?
Board portal is a universal collaboration tool that keeps all the board directors and employees on the same page. With a board portal, any board of directors can effectively collaborate in strategic management and tactical planning.
Another advantage of the board of directors portal is data security.
Modern board portals allow directors to manage various meeting rooms along with document folders and directories; share granular access to them for chosen users or in bulk. All online board meetings are protected by advanced encryption protocols that make it impossible for third parties to access events or documents.
However, when choosing a board portal or considering to use this tool, it is important to understand there are two options on the market: SaaS board portals and hosted board software.
SaaS Board Portal
SaaS allows you to access the board meeting software on-demand via the Internet: the user pays only for the number of seats that are actually used with no need to install special board software or purchase individual licenses.
Self-Hosted Board Portal
An alternative for SaaS is a hosted board portal software. When favoring this approach, a business fully owns the board of directors software: each user of the system will need a separate board of directors portal that will interact with a common database, which, in turn, is also stored on the company’s servers.
Top 3 Board Portal Software
How to Use Board Software for Online Board Meetings
The Main Advantages of Using the Board of Directors Software
The main advantage of board of directors software for board meetings is that it structures virtual board meeting.
Here is a shortlist of the benefits that the virtual boardroom provides:
- Intuitive user experience.
The board meeting software is simple enough so that users with minimal tech experience can use it comfortably.
- User management.
A simple interface for inviting participants, flexible access settings with the ability to share documents and allow attendees to participate in voting. The access level can be adjusted for all paperless board meetings as well as individual events.
- Board document management.
The latest versions of documents, presentations, and spreadsheets are available to all participants in the virtual board meeting, regardless of the device they used to enter the portal. Top online meeting platforms have no restrictions on the number of documents that can be shared within the solution.
- Access to the right tools.
Easy management of agendas, notes, documents, discussions, polls, and board meeting minutes.
Top class security protocols allow users to share the most essential documents with attendees during the virtual board meetings.
- Goal setting and control.
The task setting tool can set reminders to better organize the process.
8 Steps to Improve Board Meeting Management Using Board Portals
There is a workflow that allows a business to manage the virtual board meeting as efficiently as possible. This board meeting management workflow is built from the experience of companies that actively use board software on a daily basis:
- Define the goal of the meeting.
- Review the attendee list.
- Set the agenda so every attendee has its own time slot to present.
- Share necessary files.
- Add tasks to discuss.
- Send invites to each attendee or in bulk.
- Run a meeting. If necessary, set up live polls.
- After the meeting, collect feedback on the meeting itself, analyze all the bottle-necks that appeared during the meeting, and, if necessary, upgrade this framework to meet the requirements of your business.
Paperless board meetings have plenty of advantages. Simple meeting management principles help make all of them a part of the business routine. Just try to follow them and you’ll see how useful boardroom software is.
Best Board Management Software Providers 2021
Virtual board meeting software BoardMaps is suitable for non-profit organizations, financial institutions, and corporations. Over 500 client companies use the board portal. This provider offers quality preparation and the ability to focus on the objectives of a meeting.
The platform is software for the board meeting agenda. Before directors begin negotiations, a secretary creates an agenda and then shares it with participants. Collaboration tools and communication are available remotely. There are mobile applications for this purpose.
Another feature of the software is board meeting management. Administrators control data, functions, access, and track tasks.
Software for board meetings iDeals serves corporations by providing security and easy data management. Users of this platform can work from any device and place, which increases efficiency. The online board portal is a document management tool providing certain features. Any formats are available here, drag–and–drop, bulk upload, etc.
As part of the board packet software, there are mechanisms to protect confidential documents, preventing leakage and illegal interference of third parties. These are watermarks, access levels, the ability to delete data remotely.
Best board portal software meets business needs for secure data exchange.
The diligent board software is a widely used instrument among non-profit organizations. They get secure storage and an easy-to-manage platform, reducing business risks.
Board portal solutions make it possible to create meeting minutes appropriately. Making, editing, sharing takes place on the platform without papers. Diligent is also board agenda software. This document is necessary for any conference, so the program offers tools to make it. The provider has another way to use the program – as board governance software. That is how directors manage people and tasks.
The Boardvantage portal is designed to satisfy the business needs of boards of directors and leadership. Users work in a secure environment applying tools to speed up processes. Data encryption and multi-step authentication ensure the security of platform content. Nasdaq boardvantage offers solutions for meetings at all stages, including preparation.
The intuitive interface simplifies tasks and does not require any skills to operate the program. Board Vantage lets their clients work without papers and data leakage threats. Problems with wi-fi do not interfere with performance since the boardroom saves changes automatically.
BoardEffect software has been on the market since 2009. The bulk of clients are managers, directors, managers. On the platform, they find solutions for organizing workflows and data. The Board effect service delivers users collaboration tools that make many tasks easier. All the features are available on any device, among them a phone.
Managers can create tasks and control their implementation. Board effect client login is under protection around the clock. Customers receive a security guarantee for storing an unlimited amount of data.
Boardbookit software is a vehicle for organizing and engaging company boards of directors. Integration of tools for meetings, voting, data exchange made the platform indispensable for 15 thousand clients from different industries. Board portal does not limit the number of users or content and also protects everything it keeps.
Board document management is a simplified digitalized mechanism that allows directors to manage data without much effort and worries about breaches. Board of directors software automatically updates documents so that users can deal with the latest versions.
Nasdaq Directors Desk is a reputable board portal software vendor. Directors Desk provides a web-based solution for the efficient collaboration of board directors. The board portal ensures directors with such vital tools as polls, surveys, and document sharing. The solution belongs to the best board portals.
Directors can be sure that all the board documents are protected and used by authorized members. Users can create board books and easily edit them if needed. Board directors have the option of setting different access levels for team members. Nasdaq Directors Desk is an experienced board management software provider, so the clients get proper customer support if facing any difficulties with the boardroom software.
Board management software Boardable has been in demand among nonprofit organizations for five years. The platform is distinguished by its ease of use, which has been awarded.
The developers’ main task was to create a tool for efficient work (regardless of the location and time). The provider of board portals for nonprofits offers solutions at a reasonable price for those on a budget. The data storage keeps all relevant documents safe, including confidential ones. Boardable features aim to make it easier for nonprofits to achieve their goals.
BoardPaq is striving to be cost-effective board portal software. This vendor allows board directors to quickly organize the simple workflow and switch on paperless board meetings.
BoardPaq board software offers monthly and annual subscriptions. Clients will receive all training and customer support when they need it. Moreover, Boardpaq is an affordable solution for small organizations.
Azeus Convene is an electronic board meeting portal founded in 1991 in Hong Kong. The application is suitable for leadership teams and nonprofits. There are also banks, small and medium enterprises among the provider’s clients.
Authorized users have easy access to data and features. With this tool, directors can distribute tasks and track their progress on the platform using Calendar Management. Azeus Convene is also a way to create, edit, and share meeting minutes (which are always essential for successful negotiations). Post–Meeting Tools help to summarize and plan further team actions.
Top Board Portals Comparison
It is better to evaluate board meeting software with even more precision considering the niche of board management software. Board portal reviews help businesses to get a more detailed picture of whether it suits their internal processes.
Board Portals Comparison by Ratings
Board Portal Vendors Comparison by Customer Service
The State of the Board Portal Market
The global market of board portal software is growing.
The particularly rapid growth of virtual boardroom popularity has become possible thanks to the swift development of cloud-based technologies.
As we mentioned before, this allows companies to not only use SaaS or self-hosted solutions but even create cloud-based in-house products. The single issue that self-hosted and self-made solutions can not yet cope with is security: these options are much more affected by MIM (men in the middle) breach than protected SaaS platforms.
This has brought about the emergence of security-focused solutions that make cyber attacks impossible. Such platforms gain considerable traction worldwide. The Global Board Portal Market was valued at $2.48B in 2018 and is expected to hit $10.43B by 2026, growing at a CAGR of 20.15% in 2019-2026, says the Verified Market Research. The growth is likely to accelerate even more due to the pandemic.
What are Board Management Software Use Cases?
A large number of manufacturers globally make the global market for board portal software highly fragmented. There are big and small providers that work with LE or SME. That’s why today there are board portal use cases for any industry and company of any size.
Board Meeting Software for Commercial Organizations
Commercial organizations use board portals to have these obvious benefits: the ability to run online board meetings seamlessly regardless of where team members are located. For the past decade, board meeting management tools have been, for the most part, utilized by global brands, but today a wider range of SMEs choose employees by their skill set rather than their geographical location.
Board Management Software for Financial Institutions
Financial organizations use paperless meeting software because of its security and convenient sharing of documents.
Board Software for Healthcare Organizations
Healthcare organizations use board portals to collect, organize, and prioritize data. Today’s healthcare organizations need to leverage data governance so that it gives them the information they need to provide quality healthcare in ways that are efficient, safe, and cost-effective.
Board Portals for Nonprofits
Nonprofits mostly employ tools to manage meetings to improve the distribution of meeting papers, saving staff time and cutting expenses for printing meeting materials.
Here are some of the non-profit organizations that use board portals on a daily basis:
- The Wolfson Foundation
- World Habitat
- Commonweal Housing
How to Select Board Management Software?
When choosing a board management vendor, businesses need to pay attention to whether the offered features comply with their company’s requirements. This is important for businesses of any size, from any country and industry.
- Define your business needs: who will be using the board portal, how often, which processes it will cover, etc.
- Identify must-have features for the board meeting management software your business will use often: live voting, document sharing, meeting minutes, etc.
- Set a budget range your company is ready to invest in a board portal.
- Define a list of the best board portals that meet points 1-3 above.
- Shorten the list to top ten providers and collect additional data on them such as board portal reviews on forums, social media, and other platforms. Make a board of directors software comparison by customer feedback.
- Select the top three board portals, talk to their reps, and sign-up for a free trial to find out which one suits your needs better than others.
It’s important to ensure that a tool you are choosing is a good fit, as its implementation will require financial investments, as well as the time and emotional resources of your team. Therefore, take your time, make lists, look for the first-hand experience and measure the efficiency of the chosen solution every step of the way. It’s essential for large businesses as they need to train many employees, which means dozens of wasted working hours in case of a failure.
Meanwhile, if the tool is a good fit, it brings enormous value in terms of time, funding, and the emotional state of your team.
A board portal is a virtual platform for meetings of directors and managers. The main difference from other programs is that it offers more options for board meeting management. Here, authorized board meeting software users have easy access to board documents. The storage not only reduces the volume of paperwork but also allows directors to store and exchange highly confidential documents without the risk of being hacked. Board portal features include tools for team collaboration and tracking the activity of each of the members.
Board portals are available in two versions, SaaS and Hosted. A potential user should understand the difference to make the right choice. Software as a service implies a subscription on an ongoing basis. After creating an account, a user can access it from any device with network coverage. It is a budget, easy to use solution. However, SaaS cannot be tailored to specific needs, unlike the Hosted version. In this case, clients receive the software with a server, which is maintained by IT staff. Suitable for those who need high security. Some virtual boardrooms are available in both versions.
It is a modern board meeting solution for business. The tool offers virtual negotiations, creating meeting minutes and agendas. Directors and executives can work from home or anywhere else, keeping in touch with each other and having 24/7 secure data access. This feature reduces the number of business trips and financial costs. Having everything they need on the electronic board portal, users save time on team efficiency and task performance.
The outcome of the directors’ meeting depends on preparation. Here are a few guidelines for all industries:
- It is crucial to choose high quality and secure board software. This tool should be easy to use and minimize preparation time.
- The date and time of the conference should be suitable for all participants. Using the Scheduling feature on the board portals, users agree on this point.
- Access to an agenda and the previous meeting minutes promotes greater engagement and knowledge of the matter.
- It is necessary to appoint a person responsible for meeting minutes. Usually, it is a board secretary.
The board software price differs depending on several factors. Most vendors rely on the number of users when setting tariffs. That is, each new one costs the client some money. Sometimes a provider offers a discount to their customer. As an example, on the 101st and following online board portals of users.
A free trial is an offer from providers (not all) to potential customers to try the product for 30 or 60 days.
Board portals mean paperless board meetings, which significantly reduces the number of tasks. Besides, the data is under guaranteed protection. Third parties cannot get access to it.
Board portals are board meeting agenda software too. Using the program, secretaries never miss points that matter. There are tools for controlling users, access, whole projects. Administrators can check activity reports when they want, so they are always up to date and plan further actions.