5 most important factors to consider when working with board portal providers

The board software is not only used for document storage and archiving but, ideally, as an information platform for the entire company, makes a decisive contribution to its competitiveness, and organizes secure board collaboration. So, how to choose a reliable software vendor? Below here are five basic facts to consider.

What is a board portal solution?

The board of directors is a variant of a regular meeting in many ways, with a standard agenda and the composition of the participants. How to make meetings and the board of directors effective management tools to solve complex problems? Besides, in the online board meetings, online documents acquire special value since everyone will see what the secretary records and what changes are made to the document. If necessary, they can supplement it independently (if the meeting format provides for such a right).

The board portal is an innovative management system designed to automate the planning processes and conduct and fix the results of meetings held in organizations of various scales and types. The key difference from existing such systems on the market is the implemented automation of the functions of the meeting. You can view the board portal comparison to get more information about various vendors.

As a rule, communications occupy most of the time of the board of directors. Board software translates all design communications into a single information space and helps to establish the effective interaction of all participants. Such digital solutions imply interaction with project participants and the exchange of information, including documents and knowledge.

5 Important facts to consider when working with a board portal

So, the most important factors to consider when working with a board software provider are:

  1. Single data repository

The board portal saves all incoming documents in a central archive that everyone can access via the network. The metadata of the documents or files is stored in a database. The metadata includes the creation date, the type of document, assigned keywords, and the text it contains. Some systems also store the documents themselves in this database.

  1. Structured information and easy search

Based on this information, board software can later find the archived document again at any time. In contrast to searching in folders and files, this process only takes a few seconds. Users can find documents using the search and sorting functions, for example, using keywords or a result list that sorts documents according to the metadata assigned to them.

  1. Access data control

The administration module is designed to create, edit, and delete user accounts. Each user can be assigned one or more roles. Roles are distributed directly to the administrator of the system. The user can perform those functions for the totality of the roles assigned to him.

  1. Audit-proof archiving

Modern board software should also have a function for audit-proof archiving. Documents are stored unalterably in read-only storage. Incidentally, the documents stored in this way have the same status before the tax authorities as paper documents, which, therefore, no longer have to be kept for a possible check. However, signed documents such as contracts should remain kept in the original, as they serve as evidence for any legal disputes.

  1. Secure data exchange

The board portal ensures compliance with the established regulations, transparency, and controllability of all work on the preparation and conduct of board meetings. The software offers all necessary tools for sharing confidential business data, including encryption, electronic signature, data backup, etc.