Board Reporting Tool Review: Summary Of The Top 5 Options On The Market

Reporting is an integral component of the board’s responsibilities. Be it financial reporting, such as preparing quarterly and yearly reports on financial performance, remuneration reporting, and reports on relationships between stakeholders and the company. The management heavily relies on modern-day reporting tools such as virtual board software.

Board portal software acts as a central point to ensure regular communication between the board members and stakeholders. Similarly, a board portal provides the management with a place to store and share documents.

Board members can access required documents to prepare financial, remuneration, and risk management reports with ease. In fact, board portals are great compliance tools for cybersecurity and digital risk management.

Here is a brief explanation of board portal technology and a summary of the top five board portal software in the market.

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What Is Board Management Software?

Board management or board portal software is a digital cloud-based paperless meeting solution and a document repository for directors, CEOs, CFOs, union leaders, managers, investors, stakeholders, board secretaries, and executive committees.

Virtual boardroom software allows its users to create, store, share, update, archive, edit, analyze, and annotate business documents. Board software also provides detailed data analytics and creates future projections.

In addition to that, board software boasts a complete toolset for better, faster, and more efficient board meetings. Board technology has tools for agenda, notes, and minutes preparation, HD audio and video tools, live polls, task managers, document sharing, presenter mode, electronic signatures, and voting tools.

Top 5 Board Management Software: Detailed Summary

The following board portal solutions are selected on the basis of features, ease of use, customer reviews, and overall ratings on top platforms like G2, Capterra, and Software Advice.

1. BoardEffect

BoardEffect is relatively new yet amazingly resourceful board portal software for swift board document management and physical or online board meetings. Whether it is board collaboration or efficient and secure corporate governance, BoardEffect can be trusted with your highly sensitive corporate documents.

BoardEffect serves a wide range of industries, including healthcare, credit union organizations, the education sector, and nonprofits. It has a client base of over 40,000 boards from all over the world.

Here is a quick review of BoardEffect features:

  • Access control permissions
  • Two-factor authorization
  • Collaboration tools
  • Audit trails
  • Attendance management
  • Compliance management
  • Electronic signatures
  • Meeting management tools
  • Meeting notes and agenda builder
  • SSL security

BoardEffect is suitable for small, medium, and large businesses and is specifically famous in nonprofit organizations. It supports desktop, web-based, and mobile deployment.

2. iDeals Boards

iDeals Boards are a product of iDeals Solutions, one of the biggest names in cloud-based business solutions. iDeals is a pioneer in board software and virtual data room technology, and its clientele is extended to all parts of the world.

Although iDeals Boards are rich in document management and meeting management tools, their core strength lies in their unique customer care and state-of-art cybersecurity features. So, if boards have to share sensitive data with internal and external users regularly, iDeals boards are an ideal choice.

Apart from that, iDeals boardrooms are available in more than 10 languages, and support iOS, Mac, Linux, Windows, and web-based deployment.

Notable features include:

  • Two-factor authorization
  • Digital content library
  • SSL data encryption
  • Electronic signatures
  • Document access control
  • PDF converter
  • Annotation tools
  • Online board meeting management tools
  • Chat messenger

3. Diligent Boards

An amazing board portal from Diligent Corporation, Diligent Boards enjoy remarkable customer ratings and simplify complex and tiring board meetings. Also, with Diligent Boards, you don’t have to worry about compliance and cybersecurity risk management issues.

Diligent has served more than 700,000 professionals from over 23000 companies from healthcare, nonprofits, the education sector, the financial sector, and government institutions.

Notable features include:

  • Agenda and minutes builder
  • Document access control
  • Online meeting management tools
  • Live polls and voting tools
  • Chat messenger

4. Govenda By BoardBookit

Govenda by BoardBookit is a highly reputed board portal software that has already won the trust of over 15000 board members from different business sectors.

Govenda has a simple, user-intuitive design, and the onboarding process hardly takes 15 minutes. The platform not only simplifies the workflows but has an unbreakable digital security system.

Notable features include:

  • Permission management
  • Multi-factor authorization
  • Document templates
  • Electronic signatures
  • Voting tools
  • Annotation tools
  • Agenda management

5. Azeus Convene

Convene is one of the oldest board management solutions, developed in 1991. Azeus Convene has everything you need for effective board management, and thus, it eradicates the need to switch to other apps.

Convene is specifically famous in nonprofit organizations, enterprises, SMEs, and law companies.

Notable features include:

  • Video conferencing tools
  • Live notes
  • Document access control
  • Agenda builder
  • Meeting minutes templates
  • Single sign-on
  • Two-factor authorization
  • 256-bit data encryption

Final Words

Board portals make board document management, reporting, communication, risk management, and meeting management easier. The top five board reporting software include iDeals Boards, Azeus Convene, BoardEffect, Diligent Boards, and Govenda by Board Bookit.

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