These days, most boards are making the choice to go paperless. While some opt for centralized communication through the use of board software, others have simply stuck to email for their needs.
In fact, according to a 2014 Thomson-Reuters study, approximately 43% of boards were still emailing their sensitive board documents.
While email prevents added costs to board operations, it also poses many potential downfalls and risks.
Email isn’t secure.
You’ve seen the headlines. Email hacks are a dime a dozen these days. Not long ago, we wrote a blog about the infamous Salesforce leak, which originated with an email from Colin Powell.
Because they sent their board documents via email, their hypothetical plans for 14 different company acquisitions became public knowledge.
When boards switch to board software communication, however, they’ll be able to rest easier knowing that there’s dedicated security and heavily monitored data encryption protecting their materials.
Email doesn’t enhance board member communication.
The typical board member already receives hundreds of emails every day. When board documents are emailed, it’s easy for them to get lost in the email landfill, so to speak. Not to mention, when changes need to be made to reports or agendas, board members are inundated with more emails—easily causing confusion over when the latest draft was sent and what’s the most up to date information.
Board software eliminates these issues with centralized communication. Not to mention, with board management software, documents can be edited at any time, and board members will automatically be able to open the latest version—cutting down on confusion and the stress of administrative preparation.
Email doesn’t lead to better decision-making.
Put simply, email just can’t match up with the growing benefits of board software. Companies that use Directorpoint not only get an impactful communication tool, but they’ll also be able to access reports about the effectiveness of their board. They can use these statistics and reports to figure out when the best time to send board documents it.
Committees can use the board portal for votes and discussion outside of meeting time—thereby creating more space for important, group topics during meetings. Not to mention, board members can hop on the web or on their iPad for an experience that removes the headaches from board member prep.
Using email for board communications may be “free,” but ultimately, it comes at great costs—in security, precision, and effectiveness. Skip those costs today by scheduling a demo with Directorpoint, so we can show you how our board software will elevate your boardroom experience.