How the Right Technology Can Streamline Board Meeting Minutes
In the 2017 publication “Corporate Secretary: The People Behind Good Governance,” surveys and case studies of over 300 executives who hold the primary responsibility for preparing board materials responded to questions about using board portal technology. Questions included general use of technology for board business, as well as using technology to manage meeting minutes.
This report shows that organizations are increasingly moving away from paper processes in favor of more efficient, user-friendly digital processes. Executives noted that digital solutions were especially helpful for distributing and archiving board materials. Executives also agreed that board portal software has proven its worth, as it surpasses the efficiency of other file-sharing tools and secure messaging services. Executives also stated that their board directors increasingly need to attend board meetings remotely and they recognize the value of software solutions in helping them conduct professional meetings with participants in various locations.
Nearly every industry in the for-profit and nonprofit realms, regardless of their size, is now taking advantage of the many benefits that come with board portal technology and electronic solutions for minute-taking.
Technology Solves Security Issues
Cyber threats and cybersecurity are board-level issues where the fiduciary responsibilities of board directors come into play. In the event of a data breach or other security-related incident, courts will become interested in the actions that the board took to protect their organization.
Board meeting minutes are an important component to legal investigations, as they may be entered as evidence. Board minutes can show that the board spent adequate time discussing cyber risk, as well as record and document that the board evaluated technological solutions for preventing data breaches. In making determinations of due diligence by the board, courts may consider whether boards took advantage of software solutions to protect the organization and preserve their work and minutes.
Those who take minutes should be aware that board minutes should reflect the true intentions of board directors. Board portal software elevates the board’s performance. The process is user-friendly and intuitive, which means that anyone serving as minute-taker will find it a rewarding and edifying experience.
What Technology Can Do for Boards
Software solutions for board management keep important documents all in one place, where they are easily accessible by all who need them. Minute-takers can easily refer to any of the following documents during a meeting and attach them to board minutes electronically:
- Bylaws
- Charters and other organizational documents
- Lists of subsidiaries
- Banking records
- Financial agreements
- Listings of board directors
- Meeting minutes
Software solutions for board management make it easier for board directors to keep track of and automate action items.
Board secretaries will find that software solutions for board meeting minutes help them create agendas and board books faster, easier and with far less expense than using paper-based and manual processes. As a board secretary creates an agenda, other board members can view it online and in real time so they can suggest changes before the meeting starts.
Board management software solutions make it possible for board members to conduct their duties safely inside one network without risking the danger of being connected with outside platforms that have less robust security measures.
Board meeting software solutions allow the board administrator to assign user permissions to various parts of the board portal to protect confidentiality.
How Technology Helps to Streamline Minute-Taking
Technology helps to streamline minute-taking for boards of directors because it pre-populates and automates much of the board secretary’s work. Minute-taking software allows corporate secretaries to schedule board meetings and easily send out invitations electronically, which usually results in getting faster RSVPs. Knowing who is coming and who will be absent makes it easier for board secretaries to prepare for meetings. Board secretaries can even use the software to take attendance once meetings begin.
With software solutions for minute-taking, board secretaries begin taking minutes with an existing electronic template. There’s no need to reinvent the wheel at each board meeting. Board management software solutions for taking minutes follow the board agenda.
Manual processes make it difficult for minute-takers to reorder agenda items if necessary. Software solutions use drag-and-drop technology to rearrange agenda and minute items within seconds. Secretaries can type notes right into the agenda software and use them to easily create minutes that are accurate, timely and professional in record time. Once the meeting minutes have been completed, they’re ready for board approval. The platform organizes and archives meeting minutes for secure safekeeping in the cloud.
What to Look for in the Right Software Solutions for Board Minute-Taking
Boards should look for a variety of things in the products and in the suppliers when choosing board management solutions. Look for software solutions that aren’t loaded with features that you’ll never use. Choose those that have useful features that you’ll use often and on an ongoing basis. In looking at software solutions, look for products that fully integrate with other software solutions for the maximum possible benefit. Look for indications that the products were designed with board purposes in mind.
In addition to looking at software solutions for board management, it’s also important to look at the company that provides and services the products. Do some research and find out if the company was or is an industry leader. Look for clues that the software is innovative and that the company has made changes and updates to keep pace with changing times. The best companies will continue to update their products and evolve with changes in the business and nonprofit worlds. Find out the level of customer service. The best software companies offer 24/7 expertise around the clock and are available 365 days per year.
Boards look for ways that software solutions can help them control information and improve their processes. Top considerations are security and simplicity for directors in preparing and distributing meeting minutes. Convenience, mobility and intuitiveness run a close second to what board directors expect in minute-taking software. BoardEffect should be a top consideration for your organization. As an industry leader, BoardEffect offers the best software in board management solutions.
