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Examining the cost of a board portal is an important aspect of the decision to invest in a technological solution for managing meeting materials and other content related to governance. Many organizations think that tools such as email or file sharing online applications are free, but they are not without cost and are difficult to quantify. This article provides an outline to justify the cost of portals for board members.
Board management software is available in a variety of pricing levels, and the prices differ based on features and functionality. Therefore, customers need to look at pricing structures in order to find a solution that meets their budgets and delivers a satisfying return on investment.
Take into consideration the total cost of the system, which includes the initial purchase price, the system configuration as well as implementation costs and training costs, ongoing maintenance costs, storage costs for data and other hidden costs. Avoid providers that have subscription models that charge large upfront costs and recurring costs, as they can add up quickly.
A board portal should be easy for users to adopt. It shouldn’t need a lot of technical expertise or time away from the core functions of the board to be used effectively. Request potential vendors to explain their process for adoption and training, and how they ensure that users are comfortable using the platform.
A high-quality board management tool will be able to offer secure storage click now for sensitive files and documents as well as the capability to host meetings and work remotely with participants. It should also meet the needs of governance and compliance of the company and permit electronic signatures to simplify the administrative process.