There are plenty of options for board portal software on the market today. Once you’ve decided that you want a secure, technology-driven solution for your board, how do you narrow down the products out there and decide what is right for your team? Price is always something to consider, but beware of paying attention to just the sticker price. Here are some things to consider during your board portal price comparison.
Upfront Investment and ROI
While any software requires upfront investment, many board portals can show you an excellent return very quickly. Between savings on mailings, printing, and organizing, not having a board portal is usually more costly than investing in a software solution. As your company grows, this becomes more and more important. Check out Govenda’s Cost Savings Calculator to see how much your team can gain from adopting our board portal platform.
Hidden Costs in Your Board Portal Price Comparison
Beyond that, let’s consider some hidden costs that can come with new technology. How much time and energy will it take your team to adopt board portal software? What about updates and new releases over time?
Software installation can often take IT and administrative professionals away from their day-to-day work, and those costs are important to consider in any board portal price comparison. Furthermore, there is an opportunity cost in administrators and companies waiting for a solution setup to be completed. A cloud based solution can and should be up and running in minutes. Lengthy implementations signal legacy technology.
When deciding on the best software for your team, finding a board portal in the cloud with a single platform is a great way to ensure that you and your colleagues can get to work without interruption. When periodic updates arise, it is easy for a board portal partner with a common platform in the cloud to make small improvements without disrupting anything on your end. Your directors won’t even realize most times that updates have been made.
Ease of training is always something to consider. Is training included in the cost of the board portal? What forms of training are available – online, remote, in-person? Understanding the actual costs of training from a financial perspective and time perspective are critical during your board portal pricing comparison.