The quarterly meeting of the board of directors is coming up, and thoughthe date has been in the calendar for months, it is taking longer than expected to compile the reports, recommendations, minutes, and motions. Time is running out, and already it looks as though you will need to pay extra in shipping to ensure every board member gets his or her documents on time.
Managing a board in the 21st century means being faced with pressures from many different directions at once. Perhaps it is no surprise, then, thatwith so many other elements of the 21st century economy seeing creative disruption board management would see changes, too. Board portal software has already improved how large corporations share, process, and discuss information, and it is no longer just Fortune 500 companies who are turning to it for management solutions; increasingly, it is becoming indispensible for medium-sized organizations as well.
For a board meeting to be as productive as possible, it is absolutely crucial that members spend the weeks before a meeting reviewing the information and making sure everything is in order—not taking part in endless email chains about which versions of which documents are most up-to-date, and whether any changes need to be made.
Board portal software like Aprio makes it easier for boards to connect, receive documents, and engage in generative discussion between meetings, because this software brings together the security of older forms of communication with the ease of access that a digital platform makes possible.
For a flat rate, as many as 25 board members can be credentialed to accessApriofrom multiple platforms, both mobile and desktop. This allows them to share, annotate, and comment on documents on or offline, as well as giving them access to 24/7 tech support online or by phone (those interested can visit the Aprio Blog for more information about features and pricing).
Board portal software is an important component in the fight to ensure that confidential information board members discuss in carrying out their duties remains confidential. In recent years, hackers have taken advantage of weak security protecting email accounts to steal important information, which can then be used to commit fraud. There have even been cases where sensitive information was hacked and then used for blackmail. Experts predict that the cost of cyber crime will only increase: it is estimated that by 2021, damage and losses as a result of cyber crime will hit $6 trillion annually.
In the fast-paced world of business, preparing for a board meeting will always involve unforeseen challenges and issues that need to be resolved, for the simple reason that every passing day brings new opportunities. What board portal software is changing is how those challenges are met, and how the issues are resolved. As more and more administrators turn to new technology to simplify communications and increase productivity, this kind of software will likely become increasingly indispensible.