Photo by Luke Peters on Unsplash
Luke Peters on Unsplash

As innovative technologies become more and more accessible, every industry wants to take advantage of this opportunity. After all, it is in the technologies of today that society sees the future. This is especially evident in the tools that corporations use to organize their workflow.

All global companies - from government agencies and small startups to market giants - want to optimize their business landscape. That is why they are increasingly selecting to use the services of a board portal.

This innovative implementation can play an important, if not decisive, role in improving organization and increasing efficiency. This virtual board software can bring all stakeholders together, provide the team with a common space to work, and increase security and privacy. Given the high demand, let's take a look at the criteria for comparing platforms to choose the best option.

What is a Board Portal and Why is it So Popular?

The EnterpriseAppsToday platform, citing Market.us, notes that by the end of 2023, the market revenue for virtual board management software is expected to grow to USD 3.81 billion. Therefore, many companies are already clients of such portals and choose to hold online board meetings.

In general, a board portal is a special secure digital platform developed by vendors for high-quality and easy corporate governance. In particular, Oliver Girard, Founder and entrepreneur of board-room.ca, noted: "The choice offered by board portal vendors today is really wide and varied. And it is very difficult to find a platform that can be perfectly integrated into a specific workspace. That's why it's so important to be careful when choosing a vendor."

The key tasks of the virtual boardroom will be as follows:

  • Facilitating the process of organizing meetings and conferences;

  • Convenient system for planning the workflow;

  • Submission of electronic reports after the meeting;

  • Exchange and distribution of necessary information between employees and colleagues;

  • Preparation of document templates;

  • Reliable protection of uploaded files from unauthorized access;

  • Live chat for communication and exchange of ideas, etc.

It is precisely because of this successful combination of high security, advanced quality, versatility of tools, and intuitive user experience that online board portals are so popular today.

How to Compare the Services of Different Software Providers

Companies that want to start using board management software vendors should keep in mind that the search and selection process is extremely important. This attention to this issue is due to three reasons:

  1. The effectiveness of implementing new software depends on its quality;

  2. Only a specific set of tools can bring maximum benefit to the client;

  3. Innovative technologies are not cheap. Therefore, the price of the service can only burden the client.

Considering these aspects, it is really helpful to choose a couple paperless board management software to compare them with each other. After all, each developer wants to offer unique services that will distinguish them from other competitors.

You can make a comparison as follows. The user can choose 3-5 popular developers that offer a high-quality paperless meeting solution and create a corresponding table. In each column, write down their main advantages and features. Pay special attention to the following aspects:

  • Portal flexibility. It is important to make sure that the selected offer can meet modern challenges.

  • Pricing policy. This is a significant aspect, as some software may be too expensive for startups or small companies.

  • The level of security and access. Check what tools the provider uses to protect the information of its customers.

  • Level of involvement. The virtual board portal is aimed at active and open communication with the team and partners. Therefore, it is worth determining what tools the operator offers to use for this purpose.

All these aspects will allow you to see the big picture and select one option that meets all the target criteria.

Tips for Finding Quality Board Management Software

To find the best solution for managing your workflow, we recommend using the following tips:

  • Business size. Analyze your company's own needs, as this will significantly affect which price package to select.

  • Tools required. Very often, potential clients who want to use the services of providers do not need all the tools offered. This will depend on personal expectations and business needs. However, this factor should also be taken into account so that unnecessary tools do not interfere with the team's work.

  • Feedback from other users. It's worth noting that this is a very convenient way to find out the true opinion of a particular provider's customers who are already using its services.

Forbes noted that when choosing board portal software, the audience should also pay attention to the pricing factor. Namely, to determine how much money the company can allocate to pay for a monthly subscription to the virtual board portal. This question should be answered honestly and objectively. After all, a very expensive supplier can seriously weaken the client's financial position.