Contrary to the common belief that board portals are useless for nonprofits, we hasten to report that these solutions provide these types of organizations with invaluable assistance in their operations. It is believed that since the primary purpose of nonprofits is not to increase revenue, they operate on a limited budget, and only receive funding through donations or sponsorships, board portals are a waste of money. In this article, we’ll break down the benefits that a board portal provides to nonprofits and why they’re worth using.
What a board portal is and why nonprofits need one
Boardroom portals were created to improve the boardroom process with digital space and streamlined preparation features. They provide a secure place to manage the boarding process, store and share confidential documents, remote meetings, and online votes. This approach will make your meeting more efficient and productive.
It would be unreasonable to assume that a nonprofit board of directors would have no use for such an app because its responsibilities overlap with for-profit companies in many places: they oversee processes, approve decisions about important strategies, and approve budget proposals. In addition, the nonprofit board is also responsible for fundraising and oversees the organization’s performance within the allocated finances. Thus, board portals prove to be very useful and even necessary. Below you’ll highlight the main reasons why implementing board portals into a nonprofit’s system is a good and necessary practice.
Board management software can reduce costs
In today’s world, advanced technology for businesses is a case worth investing in. Board portals allow you to allocate your resources more wisely and reduce your costs noticeably, helping you build a clear financial structure that will serve you well in the long run. They also allow you to eliminate costs for consumables (paper, printing, stapling, folders, files, etc.), travel and lodging for directors (if they live far from your meeting locations), mail, and so on. Its flexible access, download speed, and instant notifications also help save oodles of your valuable time.
Companies should think about providing the best possible management and decision-making environment first because it directly affects their productivity, which is why many charities and nonprofits should seriously consider purchasing board portals.
Nonprofit boards have different unique responsibilities
Despite many similarities, nonprofits do have some differences from other boards. The fact is that, among other things, it is the responsibility of these boards to protect in the most efficient way possible, as far as company resources and costs are concerned. Board portals are secure, certified spaces that allow board members to focus on more urgent operations beyond administrative matters.
With helpful tools, boards can streamline their processes and allocate their responsibilities more intelligently, allocate meeting budgets more accurately and keep their meetings digitally more efficient.
Nonprofit board members often sit on different boards
Participation in Nonprofit Startups is always a voluntary gesture, so members tend to be on other boards of other companies as well, sharing their invaluable experiences from their various industries. Since such people have quite a busy schedule, they need to be able to divide their responsibilities and time in a quality way. Board portals allow participants to leave their abstracts, comments, and notes, allowing them to get up to speed quickly before the next meeting.
As for the regular board members, the board portal also brings a lot of benefits for them, such as remote work and collaboration. Videoconferencing functions allow you to take part in a meeting from anywhere in the world.