The cost of a board portal is an important aspect to consider when making the decision to invest in a technology solution that will manage meeting materials and governance-related content. Many organizations think of tools like email or free online file-sharing programs as free alternatives, however these tools come with significant hidden costs that are difficult to quantify. This article will provide an approach to thinking about and justifying costs of portals for board members.
Board management software is offered at a variety pricing levels, and the costs vary depending on the features and capabilities. Buyers need to compare pricing structures in order to find a solution which will fit their budgets and offers a satisfactory return on investment.
Take into consideration the total price of a software product that includes the initial purchase along with system configuration and deployment costs, training, ongoing maintenance, data storage and other hidden costs. Beware of providers that offer a subscription model with high upfront fees and recurring costs, as they can quickly add up.
A board portal must https://vdr-zone.net/post-acquisition-integration-plan-checklist/ be easy to use. It shouldn’t need a lot of technical expertise or a significant amount of time from the board’s core functions for it to function effectively. Ask vendors about their adoption and training procedures and the methods they use to ensure that their customers are comfortable using the platform.
A good board management software will be able to offer secure storage for sensitive documents and files as well as the capability to host meetings and work with remote participants. It should also be able to meet the compliance and governance needs of the organization, and allow for e-signatures to streamline the administrative process.