Board portal comparison and selection: A comprehensive guide

What is a board portal?

Board portal software (otherwise known as board management software or board meeting software) is a dedicated, collaborative platform where board documentation can be stored and shared securely, and where board members and stakeholders can collaborate effectively. 

It offers a centralized space for creating and distributing board meeting minutes, meeting agendas, and other board documents, scheduling meetings, conducting votes, and ensuring compliance with regulatory requirements.

How to choose the best board portal: 10 steps

Choosing the best board portal software might be a daunting task if you don’t know where to start and what to pay attention to when researching. 

We suggest you follow these 10 steps to perform a quality board portal software comparison and select the best board meeting software for your business needs.

1. Understanding your needs

To understand what board management tools you need for efficient board operations and governance, start with the following: 

• Identify your organization’s specific requirements. Start with analyzing your company’s unique needs such as the industry, regulatory requirements, and security standards. Consider if your organization requires compliance with certain governance frameworks (GDPR or HIPAA, for example). Additionally, evaluate how board members currently collaborate and identify pain points or areas where efficiency could be improved.
• Consider the size and structure of your board. All the top board management software providers cater to different organizational sizes and governance structures. This means they also differ in features offered and pricing structures. If there are few directors on your board, you may need a more streamlined solution. A larger, multi-tiered board with subcommittees might require more complex features.
• Determine the key functionalities you need. The features you might need depend on your board’s requirements. For instance, if a board portal is meant to be used exclusively by a corporate secretary, document management and meeting organization features might be enough. However, if all board members and stakeholders are to use board meeting tools, collaboration services will also be required.

2. Examining key features

Having clarified your organization’s needs, you can begin researching board portal features that might help your board meet its objectives.

These are some features to look for in a board of directors software comparison:

• Document management. Look for features that ensure secure data storage for board documentation, enable easy access to it at any time, and allow for secure document sharing. Additionally, the best board management software will include automation tools that allow for fast document creation or distribution.
• Meeting management. This is the core of the best board of directors portals. Some of the features to look for are agenda creation, minute-taking, scheduling, and notifications.
• Communication tools. Board members and stakeholders should also be able to securely message inside the board portal for effective decision-making. Consider such collaboration tools as discussion boards, notes, or chat discussions.

3. Evaluating providers

Having assessed your organization’s needs and the board software features that could help you reach current objectives, you can create a shortlist of the most fitting providers.

After this, request demos or trial versions to test usability and functionality. Most top board management software providers offer free trials so that prospects can test the functionality before signing up to anything. This is a great chance for you to understand how the specific board portal works and whether its features fit your company’s requirements.

4. Security considerations

Security is critical in protecting sensitive board information. The best board software providers take strong security measures to ensure that confidential data is safeguarded from unauthorized access or breaches.

This is what to consider during the comparison of board portals in terms of security:

• Data encryption. Ensure the board portal uses advanced encryption standards, such as AES-256, for data both in transit and at rest. Also, consider if the platform provides customer-managed encryption keys for added control over data security.
• Access controls. As a minimum, there must be multifactor authentication to strengthen user verification beyond just passwords. Additionally, the best board portals offer granular access permissions, so that board administrators have full control over who has access to what and at what level (view, edit, download, and so on). 
• Compliance with industry standards and regulations. The best electronic board portals operate in compliance with the top industry standards and regulations, such as GDPR, CCPA, FINRA, SOC 2, HIPAA, and ISO 27001 certification. Ensure a board portal is compliant with the regulations your industry requires.
• Audit trails and activity logs. The board management software should maintain detailed logs of all user activities, including document views, edits, downloads, logins, and permission changes. This way, board administrators can track all the activity inside the board portal. 

5. Usability and user experience

A good board portal should be intuitive and easy to navigate for all board members. Ease of use helps with quick adoption and makes for an overall efficient operation. 

During board software comparison, prioritize those providers that offer a user-friendly interface, modern design, and mobile accessibility.

6. Integration and compatibility

The best board communication tools have compatibility with popular software and systems, such as Gmail, Zoom, or Microsoft Teams. 

Check whether a specific board portal integrates with the tools and systems you already use. This will mean that the board portal integrates smoothly into your organization’s current workflow without disruption.

7. Customer support and training

Evaluate the customer support of chosen providers to make sure issues will be solved in a timely manner. When getting free trials, check the speed of customer support response and the quality of their assistance. Also, make sure that support is accessible 24/7 and through several contact channels such as phone, email, and chat.

Additionally, evaluate the available support options, such as webinars, user manuals, and on-site training, to ensure all board members can easily use the board portal regardless of their tech background.

8. Pricing and ROI

A big part of board portals comparison is reviewing the pricing structure offered by vendors. 

Look for transparent pricing models that correspond to your organization’s budget. Also, consider any potential additional fees, such as paying for extra users or board portal admins when your board grows. 

The most common pricing structures board portals offer are:

• Per user: the more users need access to a board portal, the pricier it will be.
• Per set of features: the more features you need for your board needs, the pricier the board portal will be.
• Monthly or annual subscription: flat fee based on the needed number of users and features.

When selecting the pricing model that fits your needs the most, assess the potential return on investment based on how those features will help your organization improve efficiency.

9. Case studies and reviews

To get the full picture of a specific vendor, study board portal reviews from real clients.

Research dedicated platforms such as G2, Capterra, or Software Advice for feedback from vendors’ users. This way, you explore their advantages and the most common problematic issues.

Additionally, read case studies on providers’ official websites. This can help you understand what industries board portals cater to and whether yours is on the list.

10. Making the final decision

Once you have all the information about the top board portals and have compared the most fitting options, summarize the findings from your evaluation. 

Based on this, present the recommendations to the board for approval.