Is your board of directors craving flexibility and speed, or is it begging to go paperless? Are your books so heavy your directors have their chiropractors on speed dial? Governance, Risk Management, and Compliance software, commonly referred to as GRC software is an increasingly popular solution for organizations that are trying to put an end to the costs and inefficiency of couriering documents and books to directors who are almost always on the go. Here are the top 4 features you have to evaluate when you decide to go digital.
#1 Security
Security is the biggest difference between a purpose-built board portal and free file sharing services. With an electronic book, administrators are able to create multiple layers of password access and visibility. Even if someone were on a director’s device, they would still not be able to access confidential materials. Administrators have complete control over who can see materials, and some software companies are taking security a step further. Administrators who use products like the Aprio Board Portal can actually set up In Camera meetings in the software and then block themselves out of it.
#2 Mobility
Tablets are quickly becoming a favourite productivity tool for everyone from medical professionals to executives. Now that new generations of tablets come with detachable keyboards, they’re perfect for productivity on the go. Before you start seeing demos for board portals, find out which technologies your directors use and prefer. Then, check the software’s compatibility against their preferences. With the rise of Windows Surface Pro 4, you’ll want to learn why it’s important to find an app that works across a number of operating systems (see: Aprio.net/news/aprio-boardroom-windows-app-now-available/). Many tech experts claim that Windows Surface Pro 4 is the most competitive tablet for productivity. It’s predicted that the Surface Pro 5 will capture even more of the business market with a longer lasting battery and improved Surface Pen functionality.
#3 Support
While some directors are keen to adopt better and more convenient technology, some of them may be reluctant to give up their paper-based ways. There are a number of strategies you can apply to appease them, such as paper copies of key financial reports available at the meeting itself, as people may find them easier to reference. More importantly, find a vendor who provides thorough, 1-on-1 training for all members, plus ongoing support. Portals such as those offered by Aprio allow members to vote electronically, so you will want everyone to be comfortable and confident when they use the software.
#4 The Right Pricing
Finally, you’ll have to find a product that’s in your price range – talk to your organization’s Chair or CFO to find out what you should be looking for. Create a list of your “must-haves” and “nice-to-haves,” and compare them against the features offered by a number of vendors.
When you begin your search for the board portal that works best for your organization, keep these 4 features at the forefront of your mind. Even if you have a small budget, you don’t have to compromise on security, mobility, or support. Go paperless with confidence with a secure, fully supported software that works across all major operating systems.