How Virtual Data Rooms Are Streamlining Mergers and Acquisitions
The National Center for Charitable Statistics estimates that there are over 1.5 million nonprofit organizations in the United States. They are accountable for making decisions, determining their charitable purpose and managing the money stakeholder has given them. With budgets that are often stretched to the limit Nonprofit boards can benefit from a digital change by using an online board portal. A board portal that is well-designed can aid nonprofits in getting the most of their funds, by streamlining the process of meetings, reducing costs, and increasing efficiency over time.
A good board management system has meeting tools, such as live remote meetings, video conferencing, and page synchronization which can be utilized by non-profit organizations to conduct efficient, effective and productive sessions. Certain software applications like Convene also allow collaboration with other tools nonprofits may use, like Microsoft Teams and DocuSign. This lets them join and collaborate more easily and effectively.
Another crucial aspect to look for in a portal for directors is its security features. Since nonprofits handle sensitive information such as financial data, funding information and identifiable donors, security should be a top consideration. A reputable software solution for boards will offer specific permissions, encryption, and remote wiping features to safeguard confidential data.
A great board system for nonprofits will include a user-friendly navigation system, as well as multiplatform access so that board members of your nonprofit can participate from any device or platform. E-signature is a great method to reduce time, increase governance and boost productivity in the boardroom. Additionally, some board management systems come with unlimited storage capacity, meaning that all of your nonprofit’s documents can be securely stored on one central platform.