It is important to know the needs of your business prior to deciding on an online board portal. It is then possible to ensure that the platform is equipped with the tools needed to support your executive leadership team in a board meeting. This includes e-signatures, live meetings and collaboration capabilities, document management and much more. You’ll also want to assess potential cost and time savings from the platform’s use.
During your software demonstrations with different portals for boards be sure to note how easy it is to use. The user experience will affect how the tool is used by your entire board, and if it will be effective in implementing best governance practices.
It is also crucial to inquire about the pricing structure of the vendor which will impact the cost https://www.trueboardroom.com/the-top-board-portal-software-solutions-a-comprehensive-comparison/ to access the portal. Some businesses have a fixed price while others base their price on the number of users, features used, and secure data storage. You might also need to pay extra for additional training, upgrades, or adjustments.
When you are evaluating the security measures for a board portal and compliance standards, look for CMMI-SW, SOC 2, and ISO 27001 certifications. This will help you ensure the data is safe and adheres to industry-standard best practices. You should also check whether they provide cloud-based or on-premise hosting in order to minimize the risk of data loss.