Examining the cost of a board portal is an important part of the decision to invest in a technology solution to manage meeting materials as well as other governance-related content. Many organizations consider tools such as email or file-sharing apps that are free online as free alternatives, but these tools have substantial hidden costs that are difficult to quantify. This article offers an outline to justify the cost of portals for board members.
Board management software is available in a variety of price points, and the prices vary based on features and capabilities. Buyers must compare pricing structures in order to select a solution that is within their budget and provides a good return on investment.
Think about the total costs of a software program including the initial purchase the system configuration and implementation costs including training, ongoing maintenance and data storage as well as other hidden costs. Avoid companies that offer a subscription model with large upfront costs and recurring charges, as they can quickly add up.
A board portal should be user-friendly. It shouldn’t require a lot of technical knowledge or time away https://www.vdr-zone.net/how-differentiate-the-practical-virtual-data-room-providers/ from the board’s main functions to be effective. Ask potential vendors to describe their adoption and training process and how they make sure that users are at ease using the platform.
A top-quality board management tool should be able to provide secure storage of sensitive documents and files and the ability to host meetings and collaborate remotely with participants. It should also meet the compliance and governance requirements of the company, and allow for e-signatures to streamline the administrative process.
