https://www.vdr-zone.net/complex-understatement-about-board-portal-pricing/
Consideration of board portal costs is an important aspect to consider when making the decision to invest in a technology solution that can manage material for meetings and governance-related content. Many companies believe that tools like email or free online file sharing applications are free, but they are not without cost and are difficult to quantify. This article offers an approach to justify the cost of portals for board members.
Software for managing boards is available at a variety of price points. Prices are based on the features and capabilities. As a result, buyers have to evaluate pricing structures to find a solution that fits their budget and offers an excellent return on investment.
Take into consideration the total cost of the system, which could include the initial cost of purchase, system configuration, implementation costs as well as training costs, regular maintenance costs, data storage costs and other hidden costs. Avoid vendors that use a subscription model with expensive upfront fees and recurring charges, since they can quickly add up.
A board portal must be simple to use. It shouldn’t require a lot of technical expertise or time away from the board’s main business tasks to be used effectively. Ask potential vendors to describe their adoption and training process, and how they ensure that users feel at ease using the platform.
A high-quality board management tool will be able to offer secure storage of sensitive documents and files as well as the capability to host meetings and collaborate remotely with participants. It should also help with the needs of governance and compliance of the organization and allow for electronic signatures to streamline the administrative process.