Board Software is software designed for managers. It helps to hold online meetings, vote, and meet resolutions. Often, programs combine the functions of a virtual data room – various files of your company are stored there, and the whole team is collected in one online space.
Such software may seem expensive for some users. However, it can save a lot of money. Further, the key financial advantages of the software for online meetings of the company’s board will be considered in more detail.
You do not need to rent a conference room
The first thing you can save on is renting office space. After all, to meet directors regularly, you may need a large conference room with a lot of technology for collaboration or decision-making.
For example, the cost of renting a conference room in Chicago ranges from $75 to $250 for the most modest options for a small number of users to a thousand or more dollars per hour for luxurious rooms for many participants. Agree; it is much easier to deduct a few thousand dollars a year from the corporate budget and meet online as much as you want.
You do not need to buy server hardware
All documentation that appears as a result of online meetings of managers is stored on the service servers. And you do not need to purchase your server equipment; spend money on landscaping the place for its maintenance and create conditions for this.
Server equipment for a more or less large company will cost several thousand dollars. In addition, you need a separate room for it, where there is air conditioning and an uninterrupted power supply. You can avoid buying server hardware altogether if you choose a board portal with a virtual data room function.
You do not need to spend money on paper and printers
All managers know that corporate documents take up tons of sheets of paper. First, this is not an eco-friendly approach. Secondly, paper media in the modern world are increasingly depreciating. Third, they cost money.
For example, a multifunction printing device can cost 2-3 thousand dollars or even more. It also needs to be serviced regularly. Today’s paper pack costs about 4-5 dollars for 500 sheets. Now imagine that all this does not need to be spent at all!
You don’t have to get to the meeting point
And, of course, you save a lot of money by not traveling to board meetings. A trip on an electric car will not cost much, but if you have a gasoline car, then in a big city you can drive even 20-30 km through traffic jams in one direction – already about 2-5 liters of gasoline at a time (depending on your car). A liter of 95 gasoline costs an average of $1.25 in the US.
You don’t have to spend extra time
But the most critical resource that you save is your time. It is priceless. And if you are an experienced manager, you know exactly how much each precious hour of your work costs. Not worth spending those hours sitting in a conference room or driving to the office for a meeting.
Price board portals
The cost of board portals is variable: from 100 to 600 to 700 dollars per user per year. Some providers provide a fixed amount (for example, 1-2 thousand dollars a year) to buy an unlimited number of users.