A board that is highly efficient can mean the difference between success or failure for a business. It also provides an environment that is safe and stable for the people it serves. Inefficient internal processes and an explicit definition of management and the board can lead to board members who are not functioning properly, which can negatively affect the employees and the organization.
Improving board management efficiency starts with making sure that the board has access the information it requires to make informed decisions. This includes ensuring that directors have access relevant and timely materials and that the information is easily digestible. Additionally, it is essential to create the right structure to allow for the ability to have a diverse opinion and expert, as well as an logical committee and management structure.
Board management software allows directors access to all materials needed for meetings from one central location. They no longer have to look through board packs or emails. It permits the recording and analysis of meeting minutes, as well as the management of actions items during the meeting.
Embracing digitisation is a key step towards enhancing the efficiency of board management. Assess your current board system (even if you are still using desktop software) and identify your pain areas using a framework such as the “needs by meeting stage” above. Run a trial of your new board software before making the decision to implement it, to ensure that it is smooth and efficient for everyone involved in the board cycle.