Board Management Software
Board Management Software Overview
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Board Management Products
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Learn More About Board Management Software
What is Board Management Software?
Board management software provides a shared, secure space for board directors to access board documents and collaborate with other directors. Documents or other assets are viewable only to those given access by the software administrator. Board management software provides visibility across the company and prevents instances of oversights or cross-scheduling.
Increased regulatory scrutiny has led to larger boards with more frequent meeting schedules and document reviews. This has fueled the creation of more board management software and has encouraged the development of more features. In addition to scheduling, company leaders use this software to create and store agendas, notes, meeting minutes, and more useful information related to the company.
Board management software functions similarly to project management software. The key distinction is that board management software is designed to assist board members, chief executives, and other leaders within an organization. Project management software assists a wider variety of employees, and it is useful for team members working on long-term projects.
Board Management Software Features
Board management software includes these features and capabilities:
- Access control features for managing access by role or clearance level
- Built-in messaging provides secure communication between board members
- Voting tools
- Document creation tools for creation and dissemination of board packets, agenda, meeting minutes, etc.
- Collaboration tools allow board members to comment on documents etc.
- Security such as two-factor login and document and message encryption
Board Management Software Comparison
When comparing board management software, consider the following factors:
- Industry: Some board management products are capable of assisting multiple industries. Others may be designed to work within a specific area, such as a marketing or sales team. Make sure the software is designed to assist your industry.
- Tracking: Some products will offer the capability to track actions (i.e who has access to certain documents and employee engagement). If this feature is important to your company, you should compare the tracking capabilities.
- Ease of Use: The use of board management software is a change to the traditional process of phones and emails. It reflects an effort to simplify communications, and the product should be user-friendly to ensure efficiency.
Pricing Information
The cost of board management software depends on the level of features and the number of users. Pricing for up to 20 users ranges between $1,000 and $12,000 per year. For customized pricing, you should contact the vendor directly and inquire about any free trials.
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Frequently Asked Questions
What does board management software do?
What are the benefits of using board management software?
What are the best board management software products?
How much does board management software cost?
The cost of board management software depends on the level of features and the number of users. Pricing for up to 20 users ranges between $1,000 and $12,000 per year. For customized pricing, you should contact the vendor.