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Board reporting software provides an efficient alternative to traditional meetings. It provides a central repository for all meeting materials which makes it easier to access and collate important information. It also helps reduce the time spent in meeting preparation for executive teams and directors. The robust security measures of the software ensure that all information and data is protected from external threats.
Organizations can also save money by using reporting tools. According to research, in-person meetings which require travel costs three times more than virtual meetings. This is because the meeting costs could include airfare, hotel accommodations, food and other expenses. In addition, the time spent on travel and preparing for meetings in person can be longer than the actual duration of the meeting itself.
It has been shown that board management software can increase the efficiency of meetings and increase engagement amongst board members. By streamlining the production and distribution of the board report companies can focus on the most important issues. A well-prepared board report should include an executive summary, which highlights the most important findings. It should also identify any issues that need to be addressed, so that everyone is aware of next steps. If your company is using a variety of acronyms, you may want to list the definitions of each in an appendix. This will help your board members comprehend the results of data analysis.