Board management software is an electronic tool that helps boards of directors and their administrative support staff, and other stakeholders prepare for meetings, distribute documents and communicate on important subjects. These systems are paperless, and the participants are able to communicate and collaborate remotely through either a web browser or mobile application. The best systems include features that let you capture and manage meetings, set agendas, share documents, and collaborate on them in real-time. They also allow for the recording of meeting minutes, keeping track of document versions, as well as monitoring compliance with specific legal requirements or regulatory requirements based on industry.

The selection of a great board portal should be an extensive evaluation of needs across the entire board, including the chair, board members, CEO and managers. Often, the choice is triggered by one or two major problems such as security efficiency, cost reduction and security but a thorough evaluation should be conducted to ensure the net benefits outweigh the costs.

A good board management system should have the following collaboration tools for business and teams key features:

Secure storage of data – Many providers offer cloud-based or physical facilities that are secure with the former offering more stringent standards and certified physical security. It should also be possible to store all the relevant documentation for a meeting in its entirety, which is more than a mere collection of emails and PDFs. The software should be able to to prompt good practices, such as making important discussions and decisions early in the agenda, and include security and health issues.