A board management tool is an instrument that helps directors and other stakeholders prepare for and conduct meetings. It can also help the organization to keep an eye on agendas, minutes and other board-related activities. It can be utilized to secure communication with other executives and members of the board.
The software offers a range of features, including document storage distribution, collaboration and storage tools. It can be customized to meet specific needs and comes with features like task tracking, permission control and a complete version history. It can be made to work with mobile devices, allowing greater convenience and access to users.
When looking at a tool for managing boards, it is important to think about the specific requirements of the company and the way it will be used. This includes determining the number of members of the board and what information they have to share. Once the requirements are clear, it is then possible to find the right vendor to provide the best solution.
As the demand for these solutions continues to grow, more vendors offer their own solutions. The most successful ones provide a full set of features that cover all aspects of the board’s process including preparation for meetings prior to the meeting and post-meeting follow up. For instance, some programs permit a „reading room“ where additional material can be placed that is not part of the official board package, but which may be needed for research or to facilitate discussion during meetings. This does not only cut down on the time required to compile the pack but also ensures all relevant material is available for the directors to review.