How digital meetings software can make meeting management cost-effective

Is your meeting management system cost-effective?

Running board meetings can be costly. With the average board consisting of 12 directors, and a typical meeting pack containing 300+ sheets of paper, the cost of traditional paper-based board meetings (in paper, couriers, and resource to collate and update) soon adds up.

Switching to a paperless meeting process however, can offer multiple cost advantages.


Below are key reasons why going paperless can make your meeting management process more cost-effective.

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How digital meetings software can make meeting management cost-effective

 

No extra print costs

Print and paper costs, as you would expect, can be substantial in paper-based board processes. From pack production to making amends, consistently producing (and securely disposing of) c.12 board packs per meeting can produce high annual costs.


With a paperless meeting solution however, costs can be avoided as board packs are available digitally, can be easily amended with the latest information, and so save time and resource. Interestingly, choosing board portal software over paper packs could save some organisations an average of £2,000 per month in printing and distribution costs.

 

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No courier costs

The time and resource required to securely courier documents to (often mobile) directors presents a substantial challenge in paper-based processes. Here, not only must the cost of a fast, reliable courier be considered, but it’s harder to keep directors updated with new information; especially if that director is travelling, or in an overseas location.

 

Here, paperless meeting solutions can cut the cost of couriered documents; packs are delivered electronically, instantly and securely to a director’s digital device, without the risk of loss or theft.


Interestingly, board members with access to digital board packs have been seen to be more efficient and productive (a result of faster access to information, and reduced pack preparation time), creating another cost saving.

 

More secure meetings

Mitigating the potentially huge costs of security breaches, paperless meeting solutions offer an encrypted, secure meeting alternative. For example, with a digital board solution, organisations can prevent document loss or theft. Data can also be easily protected - and remotely deleted if a board-enabled device is lost or stolen. Individual access rights can also be allocated, outlining exactly who has permission to email or print documents; further securing board information.

 

As board packs hold some of an organisation’s most secure information, having this advanced level of security offers substantial protection against the potentially devastating costs of unsecured board packs.

 

No additional shredding costs

An often forgotten cost of traditional meeting management is the cost of securely disposing of old board packs. Shredding and disposing of what may be around 39,600 pages of confidential information a year can be expensive. However, good digital board portal solutions will offer a digital shredding feature - allowing the secure destruction of digital documents that are no longer needed.

 

Putting cost-effectiveness into perspective

From production to amends, document sharing to disposal; digital board portals allow an organisation to reduce costs and streamline every aspect of board meeting management. Even meeting time and room hire costs can be curbed with digital board packs, as remote meetings are possible at any time.

 

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Putting the cost-effective nature of paperless meetings into context, in our experience, organisations may see a total annual saving of £25,000 after making the switch from paper, to a digital meeting management process.