Board portals are software designed primarily for holding a board meeting. However, modern software for managers also has many other functions, due to which the capabilities of the programs are very different.
Functions Board portals
The functionality of Board portals is practically unlimited today; there are a lot of valuable features there.
- Holding meetings. First of all, such software was conceived to hold meetings. The programs can be used for both online and offline discussions. There are a lot of handy tools to make the session comfortable and productive. The meeting administrator can prepare a meeting plan and send a meeting invitation to all future participants. During the meeting, you have the opportunity to moderate the discussion, conduct voting, sign documents using an electronic signature, and keep the minutes of the meeting.
- Storage of documents. Almost all services of this type provide virtual data room services. And this means that you can upload documents here, work on them with other managers, and provide access to other company employees. At the same time, all files are protected by encryption, double user authentication, and other technologies.
- Work with documents. Many services make it possible to edit documents directly in the virtual data room. And this means that your files will not disappear anywhere. The program saves every change and all previous versions on its servers – the administrator can always see who edited the document and what changes were made there. You can also set who can view, edit, or print documents.
- Carrying out large transactions. For example, mergers and acquisitions or entry into the international stock market require detailed preparation. Not only employees of your company but also employees of another enterprise can participate in the process. Using the board portal, you can invite them to meetings and conferences, complete documentation, submit files for review, and so on.
Each provider offers its advantages – choose the option that suits you in terms of opportunities and price.
Who will need board portals?
Such software will be helpful for such links as:
- Top-level leadership. The top management includes members of the board of directors, the president, the vice president, and separate groups of other categories of managers. Their meetings decide the fate of the company.
- Middle-level leadership. The middle-level management is approximately 40-60% of all management personnel. With the help of board portals, higher managers can inform lower managers about their tasks.
- Lower-level leadership. The last management level is often called technical and performs the function of ensuring stable operation. They use board portals more often to store data, like a virtual room.
Thus, portals for company management can be relevant at all levels of the administrative apparatus.