Why Do Credit Unions Love Board Portal Software – Here Are 3 Reasons

In an age where even the largest corporations and political parties are showing they’re not immune to security breaches and hacks, it’s easy to understand why organizations in the financial sector are looking for modern tools with world-class security to keep connected. Communication devices drive results for the entire organization by giving board directors the most potent tools to collaborate and keep connected.

Still, these should never be at the expense of overall security. Credit unions in the United States and Canada have found one modern tool that lets their top people work together remotely, all while keeping secure amid threats of corporate espionage and hacking. Let’s take a closer look at three reasons why credit unions, or any organization with a mandate for better governance and transparency, have made such great use of board portal software.

IMAGE: PEXELS

1. Facilitate Remote Collaboration

It doesn’t matter how geographically far apart your directors may be: when they use board meeting software to collaborate, they’ll be able to work together as if they were in the same room. Keep prepared before, during, and after board meetings with tools that let directors collect confidential inputs from other directors and add notes to board materials for them to share with colleagues or keep for their own personal use.

Board portals allow credit union directors to have in-app discussions before meetings. They can also call for voting and signatures on demand, which the portal tabulates in real-time. This cloud-based software lets directors review and comment on board materials from anywhere. They don’t even have to be online, as the best board portals work offline and sync up automatically when the software reconnects to Wi-Fi.

2. All Data, Always Available

Board portal software stores all your board’s most essential information in one centralized place that’s always accessible. This information can include agendas, attendance reports, minutes from past meetings, and any other materials relevant for upcoming board meetings.

There’s also an extensive library of past board information. If directors belong to more than one board, they can access all the material they need with a single username and password. Board directors can work in whatever language they prefer — in addition to English; the best platforms also come in Spanish, German, and Italian.

3. Communications, Streamlined

Directors will no longer have to toggle back and forth between emails and text messages, as now they can use their preferred device for all board-related communications, and it’ll be stored in one centralized location.

Directors will be able to efficiently distribute board materials digitally to directors, create and compile quarterly board book information, annotate and share documents, and more. If any document is changed by one director, the others receive an email notifying them of the edit. This way, they’re kept up to date immediately and effortlessly.

For these three reasons, credit unions across North America have found board portal software to be a comprehensive IT solution. It’s also helped any organization looking for an affordable and secure platform that promotes transparency and good governance.

If you are interested in even more technology-related articles and information from us here at Bit Rebels, then we have a lot to choose from.

IMAGE: PEXELS