The benefits of board meeting software in private equity portfolio management

Meetings are the engine of private equity portfolio management. They shape how firms align with management, track progress, and make decisions that drive returns. A lot of meetings still run on a mix of old tools. Notes in one place, files in another, messages scattered. It slows things down. People miss details. Decisions drag. 

Some firms have started using board software to fix that. It helps keep things in order, so they can focus on what needs to get done. It’s not about more meetings. It’s about making each one count. 

This article explores how the right technology can sharpen the impact of portfolio company meetings, helping private equity firms strengthen governance, unlock value, and manage complexity more effectively across their holdings. 

We'll cover: 

• The causes of friction in private equity portfolio management 
• Why board meetings are critical to successful private equity portfolio management
• How board meeting software can support private equity portfolio management success

The hidden friction slowing down private equity portfolio management 

Meetings should be a springboard for action. But in many portfolio companies, friction builds up in the background. It’s rarely dramatic, just enough to drag down momentum, one meeting at a time. 

Here are some of the common issues: 

Late meeting materials and scattered communication 

When reports are shared last-minute across email threads or cloud folders, directors struggle to prepare. Time in the meeting is then spent clarifying information rather than making decisions.  

According to a recent episode of The Operators podcast, “In private equity‑backed companies, effective communication is a must‑have strategic asset that drives value creation. Effective communication aligns the board, management and external stakeholders toward shared goals, accelerating decision‑making and building trust.” 

Directors juggling multiple boards and struggling to prepare 

Most external board members serve several companies. Without a clear structure or central place to review documents, preparation becomes a burden and contributions suffer. 

Discussions dominated by reporting instead of decisions 

Meetings often become reporting sessions. A lot of time ends up going into what already happened. Not enough into figuring out what’s next. And when no one’s tracking follow-ups, things get missed. You come back to the same issues again. Nothing really moves. 

Why board meetings are a strategic enabler for value creation 

Board meetings are part of the work of value creation. Every session offers a chance to agree on priorities, remove obstacles, and support the people delivering results.  

A recent article in PrivateEquityCXO highlights, “Private equity board members feel like owners themselves… They ask the hard, detailed questions about performance variances and will not be swayed by vague or self‑serving answers.” When the meeting process runs smoothly, boards can use their time to help move the business forward. 

Reducing friction makes it easier to stay aligned and respond when things change. It also makes preparation feel worthwhile, because the conversation it supports is clearer and more focused. Discussions are more likely to lead to action, not just information. 

The improvements may feel small at first. But when meetings are easier to prepare for, easier to run, and easier to follow up, the impact adds up. Boards become more effective. Oversight becomes more consistent. Relationships grow stronger. The software doesn’t replace experience or insight, but it does help firms get more out of both. 

How board meeting software can support private equity portfolio management 

Software can help bring more structure to the way meetings are prepared, run, and followed up. Each board retains its own way of working, but applying a consistent format across companies makes it easier to understand what’s working and where support is needed.  

When decisions and follow-ups are recorded clearly, they’re easier to track, and less likely to be forgotten. This is especially important in PE-backed companies, because, as recent research from McKinsey found, “PE‑backed‑company boards spend 21 percent more time discussing strategic initiatives during board meetings than public‑company boards do.” 

Enhanced collaboration   

Board meeting software improves how private equity firms and management teams work together. EY confirms this, commenting that, “The private‑equity value‑creation agenda has become a key driver of EBITDA and thus overall deal exit returns, with digital both enhancing traditional value‑creation levers and enabling entirely new ones.” 

With everyone using the same system, expectations become clearer. Preparation is more focused. Discussions are more forward-looking. Meetings feel more useful because they’re built on shared context and a clearer sense of purpose. 

Greater momentum 

They help everyone stay aligned, make faster decisions, and follow through on what matters. Software helps firms put this structure in place across their portfolio. The effects go beyond the meeting itself. 

Speed is often the first improvement. When directors have access to everything they need in one place, preparation becomes easier. There’s less chasing, less duplication, and fewer last-minute uploads. Time in the meeting can then be used more effectively, with more space for strategic input. 

Improved consistency across companies  

While each company still has its own rhythm, firms can apply a shared process in the background. This helps build good habits and makes it simpler to compare progress or spot risks early, without needing to change how boards work day to day. 

With meetings, decisions, and follow-ups captured in one system, firms gain a clearer view of how each board is functioning. Oversight becomes more practical. Tracking KPIs and monitoring performance no longer depend on extra reporting or side conversations. The right people have access to the right information at the right time. 

Stronger governance  

Secure recordkeeping is built into the process. Director access can be managed precisely. Audits, approvals, and compliance checks become easier to handle, especially when deadlines are tight or when people are switching roles. 

Better board member experience 

When the setup is clear and easy to navigate, directors can focus on the discussion. They’re not spending time digging for documents or revisiting past topics. For external board members, this structure can make a real difference. It helps them contribute more meaningfully, even if they’re working across several boards. 

How to start using board meeting software in private equity portfolio management 

Introducing board meeting software doesn’t require a full-scale rollout from day one. 

As KPMG suggests, “Alignment of controlling shareholders, company management, and independent directors on strategic direction and value creation is critical, and a continuing challenge.” Therefore, a gradual approach often delivers better results and helps build support across the portfolio. 

1. Choose the right solution 

The right board meeting software fits around the way your firms and portfolio companies already work, not the other way around. It should be intuitive enough for external directors to use with minimal training, structured enough to support governance, and flexible enough to handle different meeting formats across companies. 

Look for a platform that delivers: 

• A centralised, secure environment for meeting materials, actions, and follow-ups 

• User permissions that reflect varying roles, responsibilities, and access needs 

• Tools to streamline preparation and reduce reliance on emails or fragmented tools 

• Built-in features to support documentation, approvals, and compliance reviews 

Sherpany supports all of this in a single platform. It was built for formal meetings, helping organisations turn agendas into outcomes and preparation into participation. For private equity firms, it offers a consistent, scalable approach to managing meetings across a portfolio, without forcing each company into a rigid structure. 

2. Start small  

With your solution chosen, start with one or two companies where the need for structure is most visible. These may be undergoing leadership changes, dealing with complex reporting, or preparing for major decisions. Focus on improving how meetings are prepared, how materials are shared, and how follow-ups are tracked. 

Be sure to commit to your new way of working, and embed these new processes into workflows such as quarterly business review reporting. This will help portfolio company boards to adopt the new ways of managing board meetings and will make the impact crystal clear.  

3. Use early results to scale  

By demonstrating clear value in these early cases, it becomes easier to bring others on board. Each implementation helps refine the process, making it more efficient and more aligned with the firm’s oversight needs. 

Over time, this builds a consistent meeting culture across the portfolio. Rather than adding complexity, the software becomes a practical tool that supports stronger governance, faster execution, and more productive conversations.  

Strengthen your private equity portfolio management with Sherpany 

Sherpany gives private equity firms a clearer, more consistent way to run board meetings across their portfolio. It brings structure to the process without making it more complicated, helping teams focus on preparation, decisions, and follow-through. 

With Sherpany, boards can access the same materials, follow the same agenda, and stay aligned on outcomes. This creates a better board experience, supports faster decision-making, and improves visibility across companies. 

What begins as a meeting tool quickly becomes a way to support governance and performance. It helps firms spend less time chasing updates and more time creating value. For those managing growing portfolios, it offers a reliable method for keeping pace without losing control. 

If you’re ready to strengthen your approach to portfolio management through board meetings, book a free consultation and find out how Sherpany can help.