The Hidden Costs of Inefficient Board Work

The greatest costs of board work are often hidden, buried in inefficient processes and wasted time.

Time is the most visible hidden cost

Consider all the time spent on unnecessary administration surrounding a typical board meeting. The administration spends hours collecting and distributing documents, while board members spend time searching for the right information in their inboxes.

A simple calculation shows that a board with five members can easily waste over 100 hours a year on such administrative clutter. This represents a significant financial cost. This cost is often more than ten times the price of a professional board tool.

Poor decisions are the most expensive cost

However, the biggest cost is not the wasted hours, but the consequences of a poor process.

• What is the cost of being one month late with an important decision?
• What is the price of a wrong decision made on an outdated basis?

These costs are harder to quantify, but they can easily exceed hundreds of thousands of kroner. Inefficiency leads to sluggishness, and sluggishness is expensive in a changing market.

“Continuing with a manual and chaotic system is not saving money. It is a hidden, ongoing expense.”

A board tool provides a direct and measurable ROI

The investment in a board portal provides a clear and rapid return. By automating administrative tasks, time spent is dramatically reduced, which alone can amount to an annual saving of over 100,000 NOK. In addition, it reduces the risk of costly lawsuits and security breaches.

Most importantly, it frees up time and mental capacity for what actually creates value: strategic discussion. The ROI of a board tool is among the highest an organization can achieve.

Try our simple ROI calculator to see how much your company can save by switching to 21st.ai.