https://boardmeetingtools.net/possible-price-of-board-management-inefficiency
Many people think of board management efficiency mostly in terms of the directors themselves and how they are equipped to drive best practices and speed up decision-making. But a successful and efficient board is a complex web of different components that need to work together to be effective. This means focusing the structure of the board on performance, setting up regular evaluation processes and establishing a cooperative culture that encourages councils to function effectively.
The use of software for managing boards is a major factor to achieve this. Board portals are an excellent example of this, as they can improve communication between board members, and facilitate sharing documents in an secure environment. This means that there is no need to send long chains of emails, which can cause confusion over versioning. Everyone can easily access and see what they need.
It is also important to ensure that all working teams and committees can benefit from the same efficiencies of the board, through the use of board software for their everyday activities. Everyone will have the information they require to make rapid decisions and sensitive data will be protected and only accessible to the appropriate individuals.
This can be accomplished by making sure that everyone has the ability to access the full suite of board functions, including chat and annotating tools and convenient virtual meeting integrations yet being able to create specific access controls for any confidential information. Memorial Health System, for example has been able expand its use of the board software to include multiple committees as well as other internal groups, bringing additional efficiency beyond the traditional board level.
