A board resolution is one of the fundamental corporate documents in the life of a company. It determines the further development of the company at all levels, defines short-term and long-term goals, and determines the nature and potential of available resources. Modern companies, which are oriented to the development taking into account the main tendencies of the modern market, more and more often use the possibilities of software for creating corporate documentation, including resolutions of the Board of Directors.
Advantages of creating resolutions using virtual platforms
Virtual platforms provide ample opportunities for writing board resolution almost in real time. The main advantages of working with virtual platforms in the process of creating board resolutions include:
- Time savings. Working on documents using software tools takes only a few minutes. Not only the tools for working with documents help to reach the final goal, but also the ability to create a number of ready-made templates according to the standards of document management of each individual company.
- Data protection. Board business meetings typically involve data that constitutes corporate secrets. So it’s not surprising that many companies are working to protect them from outside interference. With virtual platforms, this is much easier to achieve, as most of the products on offer provide robust digital security tools.
- Streamlining workflows. Traditional board resolution workflows involve several time-consuming processes. Since the resolution represents the end result of the board’s work, virtual whiteboards make it easier to work on the resolution, including by creating preliminary drafts and agendas.
- Clear division of responsibilities. Virtual platforms that are used to organize the work of the board of directors provide an opportunity to divide responsibilities among the management, thus equating them with all employees of the company. This strategy, among other things, can be used to select the person doing the work of creating the resolution.
Board resolution creation software has a far-reaching list of benefits for every company, with each being able to highlight the pros specifically for themselves.
How to properly create a board resolution?
In order for the board software to bring only good value in the process of working on a board resolution, you need to follow a few key rules for their use:
- Develop a standard structure for the document;
- The resolution should be written on company letterhead (including a digital format);
- Structure the information in the resolution into logical parts;
- Do not overload the content with unnecessary details or a large amount of information;
- Use specific business terminology, but also try to use simple and understandable language;
- Develop a draft resolution and submit it to the board;
- Reinforce the meaning of the resolution by voting on its substance and affixing the signatures of all meeting participants.
Each company can develop its own requirements for the form and layout of the board resolution. The only requirement is that all unique languages must comply with generally accepted requirements for legal document formatting.