Searching for suitable board management software to optimize corporate workflows is often more difficult than one might think. This article will compare the leading board portals in the market according to the most important points. Here is more about it.
Why it’s worth using a board portal solution?
Collaboration plays an important role in the modern corporate life of nonprofit collegial bodies. Above all, one thing applies: the more board members work together on a project, the more important it is to have good coordination and communication. The best possible result can only be achieved if all tasks are distributed ideally and the exchange between employees works. It is just as crucial that everyone involved has the necessary resources and information and is informed of relevant changes in the work process in good time. To optimize the workflow, more and more companies are turning to collaboration tools, which often enable productive work and location-independent work. Board portal service is one of them.
The board portal is a decision-making platform for control over business planning and performance. The platform offers, among other things, solutions for business intelligence, performance management, and predictive analytics for financial service providers. The software can improve profitability analysis across the enterprise. The tool also has nonprofit strategic plan example, budgeting, planning, simulation functions, and margin and price analysis to improve investment quality. All board software functions and data sources can be displayed and configured in a unified view using drag-and-drop. The platform is available both as a cloud and as an on-premise solution.
Collaboration tools for boards: board portals in comparison
So, we are going to compare different board portal solutions according to 3 simple points:
- Data management
One of the most important basic ideas of board software is that boards can share their spreadsheets, documents, and other data with other users. Most board software vendors, including Boardffect, Diligent, Boardable, and others, offer a central storage platform and the option of defining individual access rights. In this way, all important files are always at hand from anywhere. The Chairman or administrators decide who has access to which data.
- Real-time communication
Collaboration tools often contain various functions to communicate with each other in real-time. In individual project boards, for example, tasks can be distributed, and progress can be communicated. Comment functions allow unclear tasks and facts to be discussed quickly and easily. Many implemented applications also rely on well-established forms of communication such as video telephony, instant messaging, and e-mail or have interfaces to common programs such as Outlook or Skype. Most board software providers like Boardable, Govenda, and OnBoard also rely on storing spreadsheets or text documents in the cloud so multiple users can access them simultaneously.
- Control features
Reliable board software is characterized by the fact that the Chairman and team leaders can optimally plan and oversee the various work processes. So, components can be used to divide and organize the available resources optimally. In addition, many tools like Aprio, BoardEffect, and Nasdaq offer solutions for documenting and evaluating work processes and progress. When used throughout the company, the applications facilitate communication between individual departments. The progress of execution of instructions is easy to control – information is available from reports, protocol cards, or meetings.