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Board management software is also called board portals, and is designed to streamline the operations of a corporate board. It automatizes the routine tasks like scheduling meetings, sharing documents and dispersing minutes of meetings. It also has tools to assist directors in working effectively with one another in person as well as online. While some vendors provide all-in-one solutions, others require users purchase additional integrations to cover specific functions. This article outlines five functions of board management software according to ratings from verified software users. It also highlights the best-rated products in each category.

The document management feature consolidates and organizes all board-related documents in one central repository, increasing information management and efficiency. It also provides collaboration features like real-time commenting and annotations, which enable users to review documents simultaneously and speed up feedback and decision-making. This feature comes with version control and accessibility controls permitting administrators to set levels for authorization of documents and files.

Security is a crucial aspect when a business is implementing new software. This is especially true when the software handles sensitive data. Freeware usually comes with low or no encryption, making boards open to security breaches that could cause financial loss and damage to the reputation. It is recommended to only choose a software that offers secure encryption of 256 bits or greater.

A reliable board management software will reduce administrative burdens and reduce time, allowing more time for important initiatives and projects. However, choosing the right solution requires careful analysis and research. Apart from evaluating the capabilities of each tool, it is important to look at how each tool integrates with your existing technology stack.