The world is changing rapidly, and naturally, the business community adapts to these changes, turning them from obstacles into new opportunities. This article will reveal the possibilities for modern boards using virtual boardrooms for digital transformation and present a guide on how to choose the best boardroom solution.
Boardroom software – digital model in corporate governance
Traditional management mechanisms lose their competitiveness when they are used in isolation from dynamically developing digital technologies. The board of directors is gradually moving from a conventional paper-based to a digital model. According to a study conducted by Gartner, by 2023, 60% of board members will have started or achieved their digital optimization efforts. Digitization means that digital technologies convert manual processes into digital processes. Companies use business software like cloud storage services, digital communication systems, or other digital tools like board portals to process, store and share information.
If all events could be held earlier in a conference room, and then successful negotiations could be celebrated in a restaurant, now the approach to organizing and holding business events is completely different. Its main requirement is to ensure the safety of all participants. Online board management tools meet this requirement.
Boardroom software is designed to streamline collaboration and increase team productivity. The platform can also digitize boards and other government bodies, making them easier to organize. These cloud solutions allow companies to concentrate on business processes, transfer technical tasks for setting up and supporting office programs to external specialists, and pay by subscription.
How to choose the perfect boardroom provider?
Business and board software is a long-term alliance, so the right choice is essential. As the market develops rapidly, the choice of systems is becoming broader and more diverse. Today, videoconferencing is often used as a component of unified communications and video collaboration systems, which also have features for project management, screen sharing, slideshows, recording, instant messaging, and telephony integration. So, there are the following points to consider when choosing your board software vendor:
- Safety
If system security is your top priority, check with the developer about how they provide data protection. The following measures are valuable for the boards of directors: restriction or distribution of access, backing up data on multiple hard drives, and encryption.
- Collaboration
By centralizing all the data needed for meetings with the digital board software, the collaboration between all members is naturally streamlined. Board members can comment, share information and make changes to a shared document in real time on one platform. The platform offers a secure chat room for this purpose. In addition, by using the platform, there is no longer an infinite number of document versions and no more endless back and forth between the parties.
- Screen sharing
No matter what field you work in, screen sharing will come in handy at some point. Instead of sending out materials before a meeting and hoping everyone has the right programs to access them, you can just show them what you’re looking at.
- Analytics
You can think of analytics as something that applies to external communication, but it’s also useful for internal communication. Many software packages include appointment analytics to track service quality in real-time. It is a great way to identify problem areas and connections to make the meeting easier.
- Technical support
It is good if the service provider provides training and prompt technical support. If this service is included in the subscription price, even better.