Secure Document Management software helps boards and management teams to manage the delivery of governance and compliance needs more efficiently and effectively. Essential governance provided by secure document management software helps you to gain a confident grasp of your board, internal relationships, and robust processes; it allows for good decision-making and focuses on centralising the main elements of board operations (Source).
Why would your Board use Secure Board Management software?
There are many advantages of ‘going digital’. As the world around us rushed to get online pre, during and post-Covid lockdowns, those boards who had software implemented transition through an extremely stressful time with that much more ease.
Board meetings took place as normal but in virtual meeting rooms, not board rooms. The benefits of having secure board papers were endless – there were no hurdles in trying to get board papers and agendas delivered without the postal service working, there was no worrying about how and where to print them. A simple click of the buttons is all it took.
Board management software is attained via the cloud, and key benefits include:
- Up to 80% time saving on administrative duties for getting board papers ready
- Up to 50% time saving for the management team when it comes to supporting the board and its process
- Easy and secure access to all board documents, including previous meetings, agendas ensuring busy board members don’t waste time trying to find documents
- State of the art encryption security – peace of mind knowing all documents are encrypted with the latest technology meaning there is no data leakage
- Increase in visibility, discipline and speed onboard action items
- Increase in the conversion of actions items – converting board decisions into actionable results
- The board process follow a simple workflow allowing more time and energy to be spent in areas that are important
- Better board practice such as a tighter focus on key decisions and discussions
- Elimination of paper and couriering – saving costs and the planet in one go
Choosing the right board software can not only enhance your board processes but also assist in delivering effective governance with less effort and stress.
A useful way to tackle board software is to consider your needs and wants at each stage: pre-board meeting, during the board meeting and post-board meeting. A few key questions to ask regarding the software of choice:
- How easy is it for the person in charge to put together a board pack? How much time do they really spend putting it all together?
- Once in the board meeting are you able to review your previous documents?
- What actions are we discussing? Is it easy to put tasks together and have these distributed out?
- How can we tell if other board members have read a crucial document?
- Can these documents be audited once opened and read? How will I know if board members are sound enough to make decisions on a subject?
- How secure are these documents? Can anyone access them or is there granular control and visibility?
When making a decision around board software, it is vital to evaluate your current solution (current software and/or manual process,). It’s also important to identify what works and what doesn’t. What are your current pain points?
- Is your manual process taking too much precious time away from everyday tasks?
- Is your manual process making it hard to keep track of real-time documents and changes?
- Is your current software showing you the ‘circle of death’ (uploads take too long)
- Did your current software feel like a value add at the time but does not deliver on security?
- Does your current software provide enough 1:1 support when you get stuck, or do you have to spend more time and figure it out yourself?
- Is your current software customisable? Are you able to customise your agenda or is it set in stone/template-based only.
- Are your board members able to access documents whether they are online or offline?