The advantages of holding a paperless board meeting
When companies consider switching to a paperless board meeting from the traditional paper based working methods, they may often encounter resistance from the board. Now whilst some may feel uneasy about the change in working practices, there are plenty of valid reasons for businesses to investigate how holding a paperless board meeting could benefit them. After all, when changing an established process you will need to offer some support and reassurance.
Some of the advantages of holding a paperless board meeting are:
A paper document or board pack can be easily misplaced, putting your company at risk. By switching to a paperless board meeting, all documents and board packs are saved to a director’s portable device, adding a layer of security. Even when a device is lost or stolen, it is possible to remotely delete information, possibly saving information from becoming publicly available.
Quick and easy access to corporate information
A paperless board meeting allows directors to access information whilst on the move, online or offline.. All documents once made available can be viewed through the tablet device. In some cases additional documents can be uploaded to the shared or individual Reading Rooms to help them better prepare for the meeting.
If directors sit on multiple boards or travel frequently, carrying a large board pack which often runs up to 500 or more pages can be inconvenient. . On the other hand, carrying a tablet computer like an iPad or Windows Surface is incredibly comfortable. When using a portable device, directors can easily add notes, signatures, voice annotations, bookmarks, highlight and free draw on their digital board pack, and more.
For company secretaries and administrators the release of recently updated documents can be a nightmare when using paper, with new amends having to be sent out via couriers and then having to ensure every participant is working from the same version. A paperless board meeting and an electronic board pack can have details updated from one central computer with updates being enforced on director’s devices as easily as sending an email.
If you would like more information on conducting a paperless board meeting with BoardPad software please contact us for more information or to schedule a demonstration.