Running the board efficiently is hard for CEOs, founders and even for investors. There are just too many things that can go wrong. Investors forget their action items, can’t find the deck and often juggle too much information to digest it properly, CEOs and founders often struggle with the deck, scramble to compile information by the deadline and often forget about the big picture. In short, first few meetings are a mess, and the rest often cost too much in terms of spent resources to deliver what a board should do in the first place: steer the company in the right direction.
That’s why we decided to design a board management solution that takes away all those small, yet important annoyances. DeckReport is an online platform that replaces customized board decks and endless email exchanges. It brings transparency and comparability to board reports, thus allowing directors to focus on real business issues by reducing data interpretation frictions and endless conversations.
Investors can engage with all of their companies through a single account, be notified of new decks, news, pending action items and upcoming board meetings. All data has a time dimension so it’s easy to browse through different topics and quickly glance how it evolved through time. CEOs get a single point where all data gets stored distributed and coordinated. They control who has access to what and when. DeckReport comes with a set of carefully designed tools that significantly streamline the effort needed to produce the next board deck, manage action items or coordinate the board meeting.
DeckReport goes into a closed beta in November with a planned public launch in January of 2011. We invite you to share your ideas and top features that you would expect from such a service. Some of them are already listed under our features section.