Consideration of the cost of a portal for board meetings is an important aspect of the decision to invest in a technology solution for managing meeting materials as well as other governance-related content. Organizations often think of tools such as email or free online file-sharing applications as free alternatives, but these tools come with significant hidden costs that are difficult to quantify. This article is designed to provide an outline for thinking about and justifying costs of portals for board members.\n<\/p>\n
Board management software is offered at a variety of pricing levels, and the prices differ depending on the features and functionality. Buyers must compare pricing structures to find a solution which is within their budget and offers a satisfactory return on investment.\n<\/p>\n
Be aware of the total cost associated with the solution, which may include the initial purchase price, the system configuration, implementation costs and training costs, ongoing maintenance costs, storage costs for data and other hidden costs. Avoid subscription models that have high upfront costs as well as recurring fees. They can quickly add up.\n<\/p>\n
A board portal should be simple for users to integrate. It shouldn’t need a lot of technical expertise or time away from the primary functions of the board to be used effectively. Ask vendors about their processes for adoption and training and the methods they use to ensure that their users are comfortable using the platform.\n<\/p>\n
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 be able to support rules of governance and compliance for the company and allow for electronic signatures that can streamline administrative processes.\n<\/p>\n