Although nonprofit organisations do not fall under heavy regulations, constituents and donors expect them to be as efficient as public or private companies. That is because nonprofits are typically backed by volunteers and donations. It is important for the board members to utilise the time and resources of the donors in the best possible way.
As charity begins at home, one thing board members can do is to streamline board meetings and board management for minimal wastage of time and resources.
Even the nonprofit governance best practices require organisations to improve nonprofit board meetings, give board members the right tools to fulfil their responsibilities, and implement regular board performance reviews. That is why nonprofit boards are turning to digital board management tools like board portal software.
Virtual board meeting software is an AI-driven board solution that automates lengthy processes and improves corporate governance.
Here are the top reasons why nonprofits should use board portal software.
How would you react if you came to know that your board can complete their activities in hours, which generally take days? Online board portal software streamlines the activities of regular board members, allowing them to spend more time on important matters, such as fundraising. Here's how.
Board portal software is a paperless meeting solution and a digital collaboration tool that unites board members in a single place. Board software allows board members to integrate their calendars with the boardroom; this allows organisers to schedule board meetings according to the availability of board members.
As the board portal is a digital, cloud-based solution, board members can access it anytime from anywhere in the world. They can easily retrieve documents like board meeting agendas, meeting minutes, bylaws, financial reports, policy manuals, etc.
A large number of nonprofit board portal solutions provide the electronic signature feature, which allows boardroom users to sign any document online. For example, the board meeting chair can immediately approve the meeting minutes or agenda via electronic signatures. Meeting participants can sign contracts or other documents using the same feature.
Similarly, if board members are working on a report or document, they can also add comments or notes to those documents.
If a nonprofit has a global interest, using a board portal can help. Modern-day virtual boardroom software allows users to translate data into multiple languages, making it easier for non-English speakers.
As mentioned above, donors value accountability and transparency. Board reporting software helps boards achieve the highest levels of transparency, thanks to the audit log feature in board software. Board members can generate boardroom activity logs to see who is doing what, when, and where. Every board member will be accountable for their actions, and it is super easy to identify irregularities.
When it comes to security, not many tools can compete against board portals. For starters, virtual boardrooms are certified board document management tools. Boardroom vendors, depending on their areas of operations, comply with global and regional regulatory authorities like FINRA, FISMA, ISO, GDPR, SOC, HIPAA, etc.
Note: It is important to consider factors like board software pricing, security, certifications, experience, and customer support service when choosing a boardroom vendor. An uncertified boardroom service provider is a threat to your data integrity.
Here is how boardroom software ensures maximum security for boardroom users.
One of the best things about a board portal platform is the diversity of its security tools. The security net in boardrooms is so vast that it is almost impossible for bad guys to get away with it.
For instance, board portal software features an external protection system to safeguard against external threats. The two-factor authorisation feature is an entry barrier that keeps intruders away from the boardroom. Device deletion and purging ensure that any suspicious device connected to a boardroom can be removed and purged immediately.
There is a wide range of document protection features in board management software. First, you can define custom access levels for all boardroom users. You can limit them from sharing, editing, downloading, saving, or printing a document. Other notable features include fence-view mode, read-only mode, document access revocation, digital watermarks, etc.
Virtual board software makes sure nonprofit boards use their funds in an efficient way. Here is how.
Virtual boardroom software for nonprofits is an efficiency-boosting tool that enables board members to streamline routine activities and focus on key matters. Board software brings transparency, accountability, and automation to board activities. Best of all, they are second to none in digital protection.