Board meetings were synonymous with paperwork. Traditionally board meetings meant a lot of paperwork which was also known as board packs. Since there was a lot of paperwork involved in such meetings, there was dedicated personnel meant to collate these documents. It was a lot of hassle for everyone including the members of the board as they had to go through that huge pile to prepare for the next meeting. But technology has changed all this, click to learn more here. Many board meetings are paperless as it helps the company reduce costs says reports published by www.entrepreneur.com.
If paper usage is reduced a company can save a handsome amount of money. Listed below are some of the advantages of going paperless.
Easy to maintain documents: Depending on the agenda of your board meetings, the paperwork can be a few pages to a hundred pages. If the pages are few, everyone is happy to read it through before the start of the meeting, but if it is bulky, then the board members have to go through them before the start of the session, which means you will have to spend a significant amount of time reading it. You will want these handy with you, in your office or home or while traveling. A digital board pack solves this problem, you can read these documents wherever you are and whenever you want as it can fit in your drive and accessed anywhere virtually.
More security: When your board meeting is paperless, there is less likelihood of confidential information falling into the hands of people who should not be privy to these details. With the use of a board meeting software, only people with the right credentials will be provided access to these materials, and hence the confidentiality is maintained. This software is smart enough as they will delete the data after a few unsuccessful attempts.
Real-time updates: With the board meetings going digital, even last-minute changes to the documents can be made, and it will be reflected real-time. The data is synchronized, and hence every member is on the same page without loss of data. The same cannot be done with meetings involving papers, even a small change in the board pack means reprinting and redelivering the revised sheets which can cause a lot of confusion.
Note-taking is straightforward: By going paperless, taking notes in the middle of the meeting in your touchscreen device is simple. You will not remember the context of what and why you note down better as you can make annotations for better understanding. The same cannot be said about the meetings using paper, as you have to scribble down on the paper which can be illegible even to you. There is also the chance of losing the paper you have scribbled on.
Environment-friendly meetings: As you are well aware, trees need to be cut for making paper, though it can be recycled it can be done only for a few times after which they cannot bond into a paper. You are contributing to going green by reducing the use of paper.