Considering board portal cost is an important part of the decision to invest in a technology solution for managing materials for meetings as well as other content related to governance. The majority of organizations think of tools such as email or file-sharing software that is free online as free alternatives, however these tools have substantial hidden costs that are difficult to quantify. This article provides an outline to justify the costs of portals for board members.
Board management software is offered in a variety of pricing levels, and the prices differ based on attributes and features. This means that buyers need to compare pricing structures to find a solution that fits their budgets and provides an acceptable return on investment.
Consider the full cost of a software solution, including the initial purchase along with system configuration and deployment costs as well as ongoing maintenance, training, data storage and other hidden costs. Avoid vendors that use subscription plans that have high upfront fees and recurring fees, as they can quickly add up.
A board portal must be user-friendly. It shouldn’t require any extensive technical expertise or a significant amount of time from the core business tasks to be used effectively. Request potential vendors to explain their process for adoption and training, and how they ensure that users feel at ease using the platform.
A top-quality board management tool should be able provide secure storage of sensitive files and documents as well as the capability to host meetings and work remotely with participants. It should also support the compliance and governance needs of the organization, and allow for e-signatures to streamline administrative processes.