Global Board Portal Software Market 2021
The virtual board software is a set of modern digital tools. Many world-leading companies and holdings use them to conduct a board of directors. Such tools greatly improve the efficiency of solving essential issues. The main goal is to increase the efficiency of the board of directors by creating a unified information environment, organizing internal communications between board members, ensuring their remote participation in voting procedures, and making management decisions.
The development of board portals in the modern business environment has led to the fact that all team members can use this software, not just C-level directors. Thus, thousands of companies worldwide exchange documents, set goals for certain periods, set tasks, and control their execution.
Virtual Boardroom: The Main Tasks
The pandemic has pushed companies from all industries to move to new digital solutions. Of course, the shift to telecommuting has impacted employees, managers, and directors. However, another important group has had to restructure their work quickly – the boards.
The widespread shift to teleworking and the rapid proliferation of new digital solutions that followed have forced boards to change their approach to digitalization. Ultimately, the board meetings must ensure that the organization copes with its mission and delivers significant value to its clients and society. To do this, they must invest in digital tools, learn cybersecurity best practices, and develop the skills needed to keep businesses running in today’s digital world.
Best Global Virtual Boardroom Software Vendors
Let’s now turn to companies specializing in software development for paperless meeting solutions.
- BoardMaps is a multifunctional, technological, and secures IT solution that allows you to organize effective digital management of an organization and automate the work of boards, committees, and other collegial management bodies of large companies, holdings, government, and non-profit organizations;
- iDeals is a fast-growing b2b-SaaS company specializing in software development for secure communication within and between companies. IDeals products are highly regarded in the market, and its services are renowned for their high customer focus. More than 100,000 companies and 500,000 people around the world use iDeals, mainly in the USA and Europe;
- Diligent offers a set of analytical tools and business materials. Using this software increases the efficiency of the online board meeting. In addition, you can quickly exchange information, receive timely technical support and search for files in a couple of clicks;
- Boardvantage is software that companies around the world use. It is available as a SaaS and is compatible with Windows, Mac, iOS, and Android. It is essential that you can conduct and connect to meetings even. You will also enjoy flexible pricing and many different tariffs;
- AzeusConvene is a multifunctional meeting and board management software. It saves time and effort in preparing for the boards and simplifies the entire negotiation process. The platform will be of interest to employees of administrative blocks, referents, and executive assistants who ensure the effectiveness of meetings between bosses and clients or colleagues. The system encrypts the documents used, creating additional security for a business of any direction.
Above are the leading companies offering cutting-edge paperless meeting solutions. You need to adhere to some criteria to choose the software that suits your requirements.
The Proper Way To Choose Board Portal
Choosing the proper board portal will help you organize and improve the efficiency of communications at all levels of your company. So, please note:
- The board portal you choose must provide smooth communication and ease of use. Explore all the portal tools. Read user reviews. After all, the main goal of the board portal is to increase the effectiveness of cooperation concerning strategic management and tactical planning;
- The software should be as secure as possible. Board meetings involve the exchange of vital data that needs to be protected from third parties to whom they are not intended. Advanced encryption protocols must protect online meetings;
- Simple interaction with all participants and control of their activities. You should manage the various chat rooms and document folders and catalogs. Also, make sure you can control access to files for meeting attendees.
As you can see, there are not many criteria, so pay due attention to each of them.
Before the pandemic, only 5% of board meetings were held remotely. Now, this number has increased to 95%. Various studies show that even after the pandemic is over, more than 50% of boards of directors will adhere to this trend. Of course, face-to-face meetings have their advantages, but board portal software can dramatically increase efficiency, shorten meeting times by 30% and increase attendance by 20%. Therefore, you need to choose a vendor and study the key features of its solutions.