Just like how the bass player and drummer form the backbone of a great pop song, the board of directors provides direction and oversight to ensure decision-making that benefits their company.
So, what does it take to make decisions in an organized and collaborative way? Keep the beat and make sure your band doesn’t accidentally start playing country when it’s supposed to be a power ballad. But if things were that simple, this would be the end of our post. However, we have something more practical to share with you.
Read on to get valuable tips on improving your board’s efficiency and explore board portals, a solution designed specifically for this purpose.
First things first: What is board portal software?
Before you learn how to improve each stage of a meeting using the platform, it’s important to understand what this software is.
A board portal is a multifunctional solution created for directors’ meetings. Thus, it includes secure storage, collaboration, and communication tools, features for creating agendas and meeting minutes, and other functions that simplify and improve decision-making.
The most common use cases of a board of directors portal across industries are as follows:
- Board meetings and communication
- Document management
- Data sharing
- Strategic planning
- Performance monitoring
The industry’s market size, which is expected to cross USD 34 billion by the end of 2036, demonstrates the platform’s increasing demand and popularity.
You may also want to know: Top questions to ask senior leaders.
How to make a board meeting effective at each stage with board management software?
Following the tips below, you can improve your discussions and generate well-informed decisions to benefit the company’s mission.
Step 1. Prepare
When planning for board meetings, it is essential to consider the following:
Define the meeting objectives: Outline the purpose of the gathering and determine the end goal. While there are a variety of topics that board members can discuss during a meeting, it is crucial to prioritize and identify the main points.
Create an effective meeting agenda: Develop a comprehensive board meeting agenda that outlines the main topics of discussion, time allocation, and designated speakers.
Prepare and share materials in advance: If there are any documents that the participants may need during the discussions, prepare and distribute them in advance. This way, board members have enough time to review the materials and ensure more informed conversations.
How you can use board software
Automatically organize and structure resources: Regardless of the number of files and folders, create an easy-to-navigate document index with a few clicks.
Create effective agenda: Use advanced agenda-building tools and create templates for recurring meetings within board meeting software.
Share information beforehand: Allow all participants to prepare thoroughly by giving them access to materials in highly intuitive workspaces.
Step 2. Streamline Your Meeting
Once the meeting is underway, do the following:
Encourage participation from all attendees: Each particular member’s insights can be beneficial for decision-making. So, as the facilitator, you should create an inclusive environment by inviting contributions from all attendees and encouraging open discussions while ensuring respectful and focused interactions.
Follow your agenda: When you stay within the main points listed, your team is closer to its goals. Furthermore, you should adhere to the agenda’s time allocation. Thus, your meeting will be smooth, and you’ll cover all essential discussion items.
Capture all critical discussions: A secretary or other responsible individuals should take meeting minutes. They summarize all decisions made and are vital for future reference.
Assign tasks: Assigning action items to the appropriate people with clear deadlines can make follow-ups more manageable and effective.
How you can use board software
Hold a meeting in a feature-rich space: Regardless of location and device, anyone can join discussions.
Keep track of discussion points: Stay on track effortlessly with the agenda at your fingertips during a meeting.
Assign action items, performers, and deadlines: Get organized by setting tasks for each participant and tracking everyone’s progress right in the board of directors software.
Vote during meetings: Make your decisions more inclusive with easy-to-use voting tools.
Automatically send notifications: Let everyone know about changes to increase accountability and awareness.
Step 3. Follow Up
After a board meeting concludes, there are additional actions you should consider to enhance its success. These post-meeting considerations include the following:
Share meeting minutes: Create and distribute comprehensive board meeting minutes with all discussions, decisions, and action items. This record is essential for accountability and future reference.
Track action items: Monitor the progress of assigned tasks to ensure that those responsible for them are held accountable. In addition, regular check-in meetings can be held to maintain momentum.
Get feedback: Encourage attendees to provide input on the effectiveness of the meeting to obtain feedback that can improve future board meetings.
How you can use board software
- Keep track of your tasks: Get reminders and statistics on task completing progress to see where you go.
- Provide secure access: Protect your data using sophisticated board governance software tools such as granular user permissions, dynamic watermarking, and data encryption.
- Communicate: Use private and group chats, polls, surveys, interactive Q&A features, or anonymous feedback mechanisms to know what others think.
By implementing these tips and utilizing the committee management platform, your team will experience a significant improvement in their decision-making abilities.
Take advantage of the opportunity to enhance your team’s productivity and success. Start implementing these strategies today!
