Benefits of Paperless Board Meetings

Paperless Board Meetings are meetings of the company’s board which take place on an electronic platform instead of traditional paper documents. The platform, which is referred to as a portal for board meetings, lets directors review and annotate documents prior to the meeting and during the discussion in real time. This makes it easier for board members to stay active during meetings and offers an opportunity for greater collaboration between board members.

The most significant benefit of going paperless, is that you can save a lot of time and money. The amount of material required for the production of paper is enormous and the expense of printing and distribution can add up quickly. In addition, the switch to a paper-free approach can help reduce the environmental impact, and is becoming a top priority for a lot of boards.

Reducing the number Virtual Board Rooms of man-hours needed to gather and prepare the information for boards is another way that going paperless helps reduce costs. This means lower labor costs which are beneficial to the bottom-line. Additionally, the use of a board management software system with search capabilities eliminates the requirement for administrative staff to search for hours through meeting files to find important data.

Finaly, going paperless helps boards comply with security requirements. The best online board platforms offer strong encryption, which informs directors of who has access to the platform and methods to keep track of user activity. These features allow boards to be in compliance with the regulations of bodies like GDPR and SOX and stop sensitive information from being accessed by unauthorized individuals.