The cost of a board portal varies between different software providers. However, it is important to think about all costs that come with the platform. This includes the initial purchase and subscription fees, software training, and specific board meeting tools. The tool should also cut down on the manual process, as well for out-of-pocket expenses like travel, photocopying or mailing fees. The ROI for this technology is usually significant, and it’s important to consider the potential savings before making the decision.
You can determine which one is the most suitable for your board by assessing the way it can meet the governance needs of your company. This includes evaluating the software’s capabilities, user management and secure document storage volume. It is also important to determine whether the program allows your board to have enough autonomy over its administration. This will ensure that the software is not too complex or difficult for your board members.
While free boards may seem appealing, they could create a range of issues in the long run. They might not offer all the features you need or are susceptible to glitches and lags. You might not be aware that they can come with hidden costs. For instance, the costs of distributing physical board books can be substantial and amount to hundreds of thousands of dollars. These costs can be avoided by using a user-friendly, flexible and secure cloud platform.
