Some executives, even in the biggest enterprises, feel that using modern technology like the board portal software is not a worthwhile investment. This is untrue and a common mistake made by so-called classic entrepreneurs or market old-timers. At the very least, it is untrue because the potential reputational and financial losses are far greater than the actual losses in the price of the software. Let’s deal with this in more detail here.
The audience for whom the program is designed is among the most important criteria that affect the cost of the board portal. Some board portals are especially created for significant companies in the commercial field. These include Boardvantage, Boardvantage, iDeals, and Boardmaps. The annual cost of these services ranges from $5,000 to $30,000 (or more).
Board portals are available for small and medium-sized companies. These include products including Board Pro, OurCatHerber, and Mycommittee. These programs cost between $1,000 and $5,000 annually.
In any case, both of these markets can be occupied by small and medium-sized enterprises because their servers can afford it. In fact, it can be said that there are no specific software vendors that cater exclusively to large enterprises.
Every board portal is usually released as cloud-based services, but they also exist as separate applications for different operating systems, both mobile and desktop. The main advantages can be described in this list:
- Providing the most effective meetings of the board of directors or other administrative staff. Efficient and productive decisions are found twice as quickly if the overall statistics of all board portals are to be believed. This is achieved through additional features such as intelligent notification that a meeting is about to start or by means of votes and minutes of the meeting itself. No item on today’s agenda will simply not be able to be listened to, it will constantly be in front of you.
- Providing file storage. Documentation or files will be available both during and after the meeting. This is quite convenient for several reasons, and it is also protected by the latest in data encryption. Based on some independent research, the security system of the top providers has been compared to that of financial institutions like banks. They could not find any differences, so it is an excellent tool for any size corporation.
- Offering the opportunity to do away with paperwork with board document management. Indeed, this type of software provides an exceptional opportunity to do away with paperwork within a company. This significantly reduces the time it takes to make a decision or sign off on an existing ready-made solution. Some boardrooms provide the option of an electronic signature, which can be done with the company’s own verification via a mobile app. The necessary documentation will be signed even when the person in charge is not at work.
These, and not only these, factors really shape the price. You can find out the board software price in more detail. Each individual board room example provides some exceptional features that a competitor may not have or may not work as perfectly. This also affects the final price. In the end, all prices are more or less the same. This is trivial because of the way the market pricing system works.
The pricing policies of three of the largest and most popular representatives of this software can be reviewed here. We are talking about Boardmaps, iDeals, and Boardvantage.
Before, during, and after meetings, BoardMaps drives board management software. Managers may raise concerns and incorporate them into meetings with BoardMaps, the only issue-centric software on the market. To guarantee that expected results are attained, decisions are documented, monitored, and tracked throughout their implementation. Because BoardMaps converts agenda items into action items and then monitors their progress, assigning action items is a breeze.
At the moment, this is the old boy on the market. Pricing here is flexible and is based on a variety of factors, such as the type, size, and purpose of the tool for the business. It is quite difficult to say an ‘average price’ as they work with both small businesses and quite large ones. They provide a free trial, but they don’t provide a free version for start-ups after all. Also, they require a setup fee.
A sophisticated and reputable provider of the virtual boardroom is iDeals. Investment bankers, attorneys, and top business executives from all around the world have put their expertise and extraordinary outcomes to the test. As the most goal-oriented and adaptable business on the market, iDeals always pays attention to clients’ needs and provides them with the safest, most convenient, and quick means to accomplish those needs in any sort of transaction. Investment bankers, attorneys, and senior executives of companies all around the world have tested and proven the iDeals’ expertise and excellent outcomes.
Unlike BoardMaps, they do not hide the average price of their services. A PRO subscription requires a minimum investment of $460 per month. The other plans, like business and enterprise, are discussed separately, as they include specific features that can be either removed or added. This, again, depends on the type and size of your organization. They also provide a free trial version of the product, which is an attractive option.
With Boardvantage, the company’s award-winning board portal, you can handle board meetings more easily. Our board portal provides a smooth and uniform experience across desktop, mobile, and tablet platforms with a modern, user-friendly layout. Additionally, data security is not affected. Nasdaq Boardvantage delivers long-term value, the legitimacy of a global brand, and a network of corporate governance experts. It is founded on a strong security posture.
They provide a fairly simple payment system, which is “one price and no extra costs.” This price is not stated initially because it’s just as dependent on your requirements and preferences, but they do offer a free trial.