When board members have access to a board portal that can facilitate a paper-free workflow they will find it easier to manage the business’s operations. The software can help them navigate information more efficiently, and also distribute responsibilities in a more effective way. This could result in more efficient and cost-effective strategies as well as more efficient methods. The software will also provide tools that enable the business to monitor data, detect trends and make informed decisions.
A few free software options may offer a basic set of functions, but they’re often limited in scope when compared with fully-featured industry-leading board portals. These solutions typically require additional add-ons to achieve an even greater functionality. These add-ons tend to be more expensive than the savings you’d have made with an all-inclusive solution.
In addition, free solutions tend to be less secure than paid solutions. Some free solutions may not make use of encryption that’s as strong as the one used by banks, or may not allow you restrict who can access the file. Given the recent media attention to data breaches and hacking it is crucial that any system employed by the board be extremely secure. Free solutions are often not provided with training or customer service. Inexperienced and new board members may not know how to effectively use the software and this could lead to weaknesses that hackers can exploit. The best way to stay clear of these risks is to choose an excellent board management system that is comprehensive and dependable security.