{"id":1851,"date":"2022-01-12T01:50:00","date_gmt":"2022-01-11T17:50:00","guid":{"rendered":"https:\/\/www.praxonomy.com\/blog\/?p=1851"},"modified":"2022-08-09T06:40:58","modified_gmt":"2022-08-09T05:40:58","slug":"reasons-why-team-collaboration-software-cant-replace-board-portals","status":"publish","type":"post","link":"https:\/\/www.praxonomy.com\/blog\/reasons-why-team-collaboration-software-cant-replace-board-portals\/","title":{"rendered":"6 Reasons Why Team Collaboration Software Can’t Replace a Board Portal"},"content":{"rendered":"\n

\u201c….Board portals will ultimately become mainstream collaboration and workflow solution tools for boards worldwide, and we forecast global spend to surge from USD 1.1 billion in 2018 to USD 10.9 billion in 2024.\u201d  <\/strong><\/p> Quinlan and Associates Research Report: Get On Board<\/a><\/cite><\/blockquote>\n\n\n\n

Board management software, also known as board portals<\/a>, are here to stay. They will continue to transform the way modern boards work and govern. <\/p>\n\n\n\n

But despite the many advantages of using a board portal, some organisations still opt to use \u201cmass market\u201d collaboration software such as Google Workspace, Microsoft SharePoint and\/or Teams, etc. to manage board activities. The reality is that comparing a board portal to team collaboration software would be akin to comparing a bespoke application to that of a one-size-fits-all system.<\/p>\n\n\n\n

The latter may just \u201cdo the job\u201d in many workflows, but it\u2019s not a solution optimised for the way boards work and function. Inefficiencies stemming from utilising these collaboration and cloud storage options come at a steep cost, from process training challenges to disengaged board members.<\/p>\n\n\n\n

Let\u2019s explore some reasons why team collaboration software cannot replace board management software:<\/p>\n\n\n\n

#1: TEAM COLLABORATION PLATFORMS ARE OFTEN INEFFECTIVE AS A CENTRALISED PORTAL FOR THE BOARD\u2019S NEEDS<\/strong><\/h2>\n\n\n\n

Team collaboration platforms are not nearly as effective as a central hub to manage the entirety of the board meeting process.<\/p>\n\n\n\n

IMPLICATIONS:<\/strong><\/h3>\n\n\n\n

a. The need arises for a separate suite of products to support the board meeting process.<\/h4>\n\n\n\n

Many of these collaboration tools require a suite of separate products to support the board meeting process. From scheduling and calendar apps (e.g. Microsoft Outlook, Google Calendar in Google Workspace) to task management tools, shifting from one application to another can translate to a tremendous amount of time spent navigating a process for getting simple board work done.<\/p>\n\n\n\n

b. There is a learning curve required to learn different tools.<\/h4>\n\n\n\n

Consider, too, the learning curve required for each suite of products, a factor often overlooked until there is a need to get new administrators or directors up-to-speed with board processes.<\/p>\n\n\n\n

THE BOARD MANAGEMENT SOFTWARE EXPERIENCE:<\/strong><\/h3>\n\n\n\n

Do away with a suite of products. Log-in to one central hub<\/a> to support meeting workflows from beginning to end. Whether you\u2019re scheduling a meeting or archiving meeting documents for reference, there is no need to use, learn or switch across different apps or software to accomplish different tasks.<\/p>\n\n\n\n

Boardlogic<\/a>, Praxonomy\u2019s board portal<\/a>, has an interface that is easy-to-use and highly intuitive, making it easy for board members to find and access information that they need, when they need it. Unlike mass team collaboration tools, board portals like Boardlogic are designed with boards in mind\u2014no matter their technical level. They simplify the administrative and technological aspect of board work, so boards can spend their time on what matters.<\/p>\n\n\n\n

#2:  THERE IS A SIGNIFICANT FEATURES GAP THAT EXISTS FOR BOARD GOVERNANCE TASKS<\/strong><\/h2>\n\n\n\n

Retlated to the first point raised above, team collaboration software does not support integrated features that make it easier and safer for boards to execute their governance tasks.<\/p>\n\n\n\n

IMPLICATIONS<\/strong>:<\/h3>\n\n\n\n

a. Regulators and investors continue to demand more stringent corporate governance for companies. Mass collaboration software is not built to meet and address board governance tasks and activities.<\/strong><\/h4>\n\n\n\n

The absence of features specific to corporate governance tasks in mass collaboration tools\u2014such as e-signatures, voting, meeting minutes tracking, attendance reporting, etc.\u2014makes it difficult for company administrators and board members alike to function efficiently, effectively and securely from within one centralised platform. <\/p>\n\n\n\n

In many instances, company secretaries have to get creative and be even more resourceful so as to be able to customise and tweak the generic features of team collaboration software for the board. <\/p>\n\n\n\n

Board members, on the other hand, often need to contend with \u201cband-aid,\u201d clunky solutions for executing their governance responsibilities.<\/p>\n\n\n\n

BOARD MANAGEMENT SOFTWARE EXPERIENCE:<\/strong><\/h3>\n\n\n\n

Execute your governance duties in a streamlined, compliant, and effective fashion. The board portal becomes a one-stop shop for your corporate governance activities. Cast votes<\/a>, affix e-signatures<\/a>, approve meeting minutes from one central solution. If you\u2019re serving on multiple boards, you have access to the same suite of governance features, enabling you to conduct your board responsibilities efficiently. Board governance features are seamlessly incorporated in the secure platform. <\/p>\n\n\n\n

Company secretaries can save time and resources with board portals. No more half-baked digital solutions for the board. Create digital board packs<\/a>, track meeting minutes<\/a>, set-up voting options,  archive meeting records<\/a> in minutes.  With board portals, you can shift your focus towards high-impact tasks that deliver greater value.<\/p>\n\n\n