Are these 5 excuses stopping you switching to a digital board portal?
While technology continues to make our lives easier and more secure, shockingly, paper still plays a major role in some boardrooms. Suggestions of moving to meeting software are often met with a range of excuses. If it’s not broken don’t fix it, right? Wrong! The benefits of having a paperless meeting solution far outweigh the benefits of paper.
Are you jeopardising the efficiency and effectiveness of your board meetings by making these five excuses?
1. I prefer the tangibility of paper for a board pack
Some directors like the tangibility and familiarity of holding papers and writing annotations. Paperless meeting solutions, are designed to ensure the user experience aids the transition to paperless meetings. Accessories, such as stylus pens, mimic the functionality of using a traditional pen, making the annotation experience very similar to paper.
Users can just as easily annotate their digital board pack, as they would a physical one. And better yet, they can effortlessly navigate through all the documents, share their annotations with other directors, and even go back and reference old meeting packs, all in a secure environment.
Additionally, paper meeting packs can present a substantial security risk. Paper packs can easily be misplaced, lost or stolen, resulting in information being leaked. With board portals, information is stored in a secure app. Featuring strong password policies, encryption and user access rights, this means your organisation’s most confidential information doesn’t end up in the wrong hands.
2. Adopting a board portal solution costs too much
Like any software, there are costs involved, but have you considered the hidden costs involved in producing paper board packs?
Take the average organisation holding 10 board meetings annually. With 14 directors and each pack consisting of 100 pages on average, meeting administrators are printing and collating 14,000 pieces of paper every year. This is just the board, add into the mix committee and executive meetings and the number increases drastically!
Many organisations find, after calculating the cost of printing, postage, and resource costs, board portals pay for themselves. Digital meeting packs have also proven to reduce resource time giving back meeting administrators valuable lost time.
3. The technology is too advanced for us
Software with extensive functionality can be daunting for some. We have heard these fears, but have seen them come and go. Paperless meeting solutions aim to make lives of directors and secretaries easier, not harder.
The beauty of board portals is that you can personalise to your organisation’s needs, by customising settings and turning features on and off. This aids the transition to those who may be initially put off by the advanced functionality, instead you can simply present them with only the features they need.
To facilitate a seamless transition, board portals are intuitively designed and require minimal training. They are designed so directors only require a basic introduction and they are good to go. However, if they ever do require assistance, quality suppliers will offer unlimited training and 24/7 support to assist with any product or technical queries.
4. We will not be in full control of our information
Securing your documents, naturally, is first thing on your mind. Meetings packs for boards and leadership teams contain some of an organisation’s most sensitive information. Ensuring this information is protected will be of paramount concern to any organisation.
An audit trail can be a central way to prevent a little mistake getting out of hand. It can help accomplish several security-related objectives, including individual accountability. Imagine overwriting a document with the wrong document or accidentally clicking delete. An audit trail fixes this issue as it backs up previous files, so these can be recovered.
Board portals protect your corporate information by having multiple security measures in place. From information encryption, strong password protection, to regular penetration testing; meeting management software not only protects data, but anticipates and prevents data breaches. Can a paper meeting pack do that?
5. Our current processes help us to meet governance requirements
This may be true, but you should also consider how your governance processes could be improved with board portal technology. With electronic data trails, improved visibility, easy to manage user access rights and enhanced security, it’s no wonder company secretaries across the globe find that the additional governance benefits gained make it worth the switch.
The old familiarity of paper packs and comfort of scribbling on paper do not compare to the ease of use and security of digital board portals. It’s why thousands of organisations across the globe have already made the switch to paperless meeting software.