The decision to invest in a portal for board members should be taken with the overall return on investment in mind, and not solely based on the cost of the technology. When comparing the prices of different portals it is important to take into consideration a variety of factors, such as the features available, the quality of support for customers, the amount of secure documents saved, and other things like that. Aside from the cost of the portal itself, it is important to consider the other costs that could arise with the process of implementing.

This includes the cost of ensuring that your board is competent enough to take on the software, and also to ensure that you do not pay too much for features that will go not used. In order to avoid these issues, make sure to engage key stakeholders--including board members and IT personnel--early in the process of choosing a portal.

Another vital aspect to think about is the amount of time your board saves by using a board management tool. A portal for boards can cut down the amount of time directors are spending in preparing meetings, studying and analyzing materials, and communicating with other directors. This could mean a loss of days, especially for boards with several members that are find out here situated in different locations.

Board portals are not only an efficient tool however, they also help improve and safeguard the foundations of corporate governance. They are able to improve efficiency transparency, transparency, and confidentiality. The long-term costs of not adhering to these standards are much greater than any savings you make by skimping in the costs of a web portal.