Old-school businessmen might remember how tough it was to manage the company before all these useful technologies kicked in. Enormous piles of papers that are impossible to keep organized. Huge expenses on every event that requires a remote partner to take part. If the board is quite big, it is extremely hard to keep the communication going so everyone stays updated. So every meeting used, to begin with, long reports on what is happening in every department. During the explanation, everyone had to take their time and study related documents. This process is a terrible time waste. But the technology can eliminate it, fortunately for us. With board portal software companies can bring their performance to the next level improving the communication within the leadership.
What is a virtual boardroom?
A lot of people think that it is a simple online storage for the documents. But it is not true. A board portal is much more than just a cloud repository. It is an extensive tool that helps to maintain the activity of the leading team and the company in general. Here directors can not only store and exchange the documents but communicate with each other as well.
With the virtual boardroom is it easy to keep everyone updated on every detail of current processes. Using such software leaders can track everything precisely and be sure they didn’t forget about anything. In the board app, all records and documents can be accessed effortlessly. So when the meeting is scheduled directors can study the relevant data and show up prepared for a productive discussion.
Be sure your sensitive data is protected
With board software, there is no need to worry someone will steal or corrupt your corporate data. Virtual boardrooms providers protect their servers with the most reliable encryption keeping ways of data transfer safe as well. To make sure the protection is strong enough they usually invite third-party experts to test it out and grade the level of security. It proves that the storage is actually safe and the provider is not just bragging about it.
Quite often data leaks happen due to a careless employee that has intentionally or unintentionally given their login information to the third-party. Also, someone can catch a virus that steals passwords. Then this employee won’t even know their personal information is stolen. To prevent malefactors from accessing the board of directors portal providers implement a two-factor authentication in their software. It means that it won’t be enough to enter just the login and the password. The user needs to prove their identity somehow else. For example, by entering a code that was sent by the system to their phone upon logging in. Such a simple action can prevent a real disaster – data leaks cost companies huge amounts of money.
Communicate efficiently without any efforts
The board management software provides users with convenient chats where they can discuss matters. First of all, these chats are, obviously, protected as well. So directors can talk not worrying that someone unauthorized will see their conversation.
To take the privacy to the next level providers of the virtual boardrooms allow their users creating smaller secure chats for a limited number of participants. It can be useful if, for example, if several leaders need to discuss issues related to just their departments. So to not overload the general chat with the conversation that is not useful for others, they can simply move to the private chat.
Users can tag relevant documents in all chats. It is a great feature that allows saving time. Others will need to simply click on the tagged file to see it instead of going to the virtual repository and looking for it manually. Also, later it will be easier to refresh the memory if needed – members of the board can review documents as they go through past conversations.
Another great instrument is a voting tool. Votes are a convenient way to understand opinions and make a better decision. Using this tool, directors can solve issues as they occur without gathering a meeting. Also, this instrument can be used to schedule events – everyone can vote for the time that is convenient for them. Thus, such a tool can improve attendance significantly.
Introduce new members of the board to processes in no time
Usually, when someone new joins the leading team, someone has to spend their time and efforts to explain everything to the fresh member. With the virtual board portal, you can simply give them an access to the workspace and let the person go through all documents. The new director will study the information and see current processes and conversation without any help. So there will be no need for others to waste the time.
Plan and track processes
When the board has decided what to do next, leaders can quickly create tasks in the virtual boardroom for themselves of employees. Once the task is created and assigned, it can be tracked. Therefore, directors can see if the process if moving forward and control it.
All the activity performed in the virtual board portal is recorded and can be converted to the detailed report. Studying this data, members of the leading team can understand how well do the department and the company in general perform. Such reports can give useful insights on how to improve processes and help the business evolve faster.
Improve your business using modern technology
The virtual boardroom offers meeting management tools that can bring your company to the next level. When all the information is organized neatly, processes are streamlined and the solid communication is established it is much easier to maintain the business in general. Of course, you will most likely need someone who will be responsible for managing everything in the virtual board portal. But eventually, you will see how much did you benefit using this software.