Maximizing Business Success with a Due Diligence Data Room
Create and distribute minutes, documents and other meeting materials easily. Facilitate governance and improve efficiency.
Board governance software allows trustees to focus on the important things, and not on the mundane administrative tasks like composing meeting agendas or keeping track of RSVP responses. This is because it integrates a wide range of smart tools into a single online platform that simplifies everything from the preparation of meeting materials, to the creation of detailed meeting minutes and more.
The most important feature to look for in any board management system is a secure, cloud-based portal that lets directors review and access information all in one location. This allows them to be more productive because they don’t have the need to browse through long email threads or look through the board’s books in physical form.
Ideally, this also provides the ability to create annotations and comments on documents as well as other files. This improves collaboration and helps the creation of a “single source of truth that can be relied upon in meetings.
The most effective software will offer a variety of integrated tools to aid collaboration and communication in addition to the portal itself. These include video platforms for conferencing, calendar management tools, storage and document management software and electronic signature tools.
The last point is particularly important. The top solutions offer high-end security features that protect information from hacking, phishing, and other threats. They will offer AES-256 encryption of documents, a multi-factor authentication model that enables on-the-fly encryption, automatic purge of lost devices, fine-grained permissions, audit trail and strict password guidelines.