Pricing of Board Portal services and easy selection with a good user experience

Evaluating the Costs of Board Portals: Finding the Best Value for Your Organization

Big companies, large networks and small organizations are making software investments. This improves organizational decision-making, workflow control, collaboration, and internal and external communication. Commercial giants can spend a lot of money on technology, while small and medium-sized businesses have to study board portal costs to get the most for a good price.

Understanding Board Portal Pricing Models

Each vendor sets its pricing for products. Pricing models often depend on the number of tools in the package, the number of users, and additional features. Services are provided on a subscription fees. Most vendors offer monthly, six-month or yearly subscriptions. A yearly subscription initially seemed more expensive. But if we calculate all monthly fees for 12 months each, we are likely to see a big difference in the final sum. As experience shows, this sum will be less than the licensing costs of all the necessary tools individually. 

Key Features and Their Impact on Cost

Companies should consider the subscription packages on offer when looking for a service provider. The packages include different software features. One example shows the difference between the packages:

• Essentials: 8 basic tools

• Premium: 8 previous + 8 advanced tools

• Ultimate: 16 advanced + 6 professional

Some vendors may separate packages by scalability. This could be:

• Pay per term of use

• Payment for a group of users (5, 10, or 30 members)

• Payment for each user separately

A positive quality among vendors is the possibility of customizing the package for individual needs. In this way, the company will spend money only on the necessary parameters, without overpaying. 

Comparing Cost vs. Value in Board Portals

A little cost-benefit analysis allows you to see the pricing ratios of different suppliers. This article is not for advertising purposes or profit, so three vendors were randomly selected for comparison.

• The BoardPaq has a price of $39 per month per user. At first glance, that doesn’t seem like much. But if the board has 7 members, it would cost $273 for the entire team per month.

• The BoardPro offers services for $200 per month. If the board of directors has no more than 5 members, this is cheaper than the first example. If there are more members, this package is more favorable. One year of these services will cost $2,400.

• The Knowa service provider requires payment for 12 months at a time. The cost of the services will be $1850. 

Buying a package of services does not always allow for a return on investment. Therefore, companies are advised to make a choice based on individual needs. Here, it is worth considering the number of participants and the duration of use. One-time use is always cheaper. But in the long term, packages with payments for 1 year at once look more attractive. You should also consider value for money. 

Identifying Hidden Costs

The omission of certain details can lead to hidden costs.

• The first thing that is sometimes forgotten is to add one user who is a secretary. When choosing a package and evaluating services, consider the board of directors and + one user as a secretary, manager, or assistant.

• The second is the set of tools in the service package. Basic packages may not have document management, voting or storage tools. Then you have to buy it from another vendor.

• The third is support services. Every system requires some customization for the users. It is better for you to have a support team from the service provider. Otherwise, you will have to spend money on a third party to help you customize or fix things. 

• Fourth, check with the vendor about training and other maintenance fees that were not originally specified.

The factors described are common, and this is not a complete list. Selecting a provider and services is not difficult, but always ask about minor details. 

Best Practices for Selecting Cost-Effective Board Portals

A company can find a favorable offer and a good service provider based on several criteria:

• Clearly define what goal you are pursuing

• Compare suppliers and packages

• Clarify the details and pitfalls

• Determine your own cost-effective selection

For a successful supplier selection, think about the goals and tools you will need for your work. Look at other offerings to determine the best practices for long-term performance. Don’t fall for advertising slogans, read online reviews about the provider. Make sure you have an informed decision-making. Hasty deals are a threat to poor user experience and difficulty working. 

Conclusion

Each company needs to make an individual technology selection. Organizational efficiency depends on the quality of the services provided. Virtual meeting rooms are not cafés for lunch that can be chosen every day. The company creates an efficient environment for work, and this should be a successful strategic investment. Mistakes in the choice will not destroy the company, but they will cost extra budget and time. It is better to make a good choice right away than to correct mistakes from bad experiences.