software features

Board management software as a platform for decision-making

The management of the organizing body is crucial to the growth and survival of a business in the increasing competition in the market. This article will consider how board software can improve the management and decision-making in a company.

How to provide efficient decision-making with board management software?

Board meetings are an opportunity for management to convey the main goals and objectives to all structural divisions at once, receive feedback, and adjust the company’s action plan based on the data received. Meetings are a business management tool that constantly needs to evaluate the effectiveness and analyze the results achieved.

Corporate governance must be responsive to the current and future needs of the organization, exercise discretion in policy development and decision making, and consider the best interests of all stakeholders. Thus, the management system should ensure fair and equal treatment of shareholders, consistency in decision-making, accountability for decisions made, accountability, disclosure of information, fairness, transparency, roles and responsibilities of the board of directors, stakeholders, and mechanisms for ethical behavior and control. 

A company’s management involves making decisions about important aspects of your business and protecting the interests of your stakeholders. These processes are time-sensitive, complex, and involve high stakes. Therefore, board management requires clear communication, scheduling of regular meetings, and documentation.

As studies of the underpinnings of the failures of large companies over the past decades show, the main causes of bankruptcy and financial failure of corporations are poor ethical leadership, lack of integrity, poor management, and violation of corporate governance rules. Therefore, modern companies use board management software for collegial bodies’ secure and transparent work.

It is a module for automating the work of collegiate bodies, which automates the decision-making business process – from the formation of a draft issue for consideration by a certain committee to the formation of extracts from the protocol on approved issues and control over the implementation of decisions.

What are the software capabilities?

Board management software is a pre-system-neutral toolkit that combines data from heterogeneous sources into a unified view. Thanks to the combination of capabilities inherent in the standard modules of the system, it becomes possible to automate business processes that go far beyond office work. Among such processes are activity management, contractual work, preparation, and meetings.

So, board software offers the following benefits for effective decision-making:

  • Workflow automation

The board portal allows you to manage the entire life cycle of a document in an organization, including registration, processing, storage, execution, and search. In addition, the time to search for documents and the risk of losing important information are reduced, and the time for approval is reduced.

  • Task execution control

The essence of managerial work is to achieve the set goals, which is impossible without a clear setting of tasks and effective monitoring of their implementation. The board software is a convenient tool for operational control of the tasks set in the system.

  • Meeting management

Planning upcoming meetings is an integral part of the work of any organization. In addition, meetings created in the board software system are displayed in the calendar of all its participants, and invitations are automatically sent to the e-mail addresses indicated in the employee cards.

  • Electronic document management

The capabilities of the board of directors portal make it possible to convert the main functions of the office work department into electronic form, to facilitate the process of registering documents and contracts, taking into account the key features of the paper office, and keeping a nomenclature of cases.