Board meetings are aimed at improving the efficiency and productivity of the company. Holding such events offline can be quite time-consuming and financially unprofitable. Using a virtual boardroom is a wise decision for executives who care about growing their business. Find out the top tips for planning and conducting productive virtual negotiations.
Tip 1. Choosing the right software
The right software needs to be selected to plan and negotiate for senior management. Some software is intended for use by non-profit and government agencies. Other programs offer options suitable for owners of large holdings. Despite the target differences and the difference in the scale of companies, virtual board software should have the following functions:
- the ability to use mobile devices;
- availability of access control to platform materials;
- the ability to manage calendar events;
- commenting and live chatting between participants;
- availability of additional tools such as electronic signature;
- integrating polls during management discussions.
Discussing important issues should be as comfortable and simple as possible for all participants. However, the use of wireless gadgets can contribute to more productive teamwork. Board members must be in touch at all times to resolve a business issue. If the online board meeting software does not allow this, this is not the best choice.
Tip 2: Appoint a meeting moderator
Ensuring the technical success of the event is essential for management meetings to take place. Test the audio, video, and screen sharing beforehand. The technology test will help ensure that everything is in order and that there won’t be problems during the virtual meeting of directors. To streamline the process, appoint a moderator responsible for the technical part of the process (alternatively, this could be the chairman of the meeting).
Tip 3. Choosing the optimal time for the board portal
Choosing a suitable date and time is one of the essential factors in the potential effectiveness of the forthcoming meeting of directors. To do this, you must consider the following points:
- location and time zones of each of the participants in the virtual meeting;
- keeping track of the schedule and employment of members of the board of the company;
- pre-survey and inform each of the participants.
It is best if the time chosen for the meeting coincides with the break of the participants in the virtual negotiations. Perhaps dividing a meeting into two different sessions will be the best solution for everyone.
Board management software allows for an integrated digital planning tool. This will help coordinate the scheduling of all meeting attendees and streamline the decision-making process.
Tip 4. Clear formulation and distribution of tasks
Getting the agenda right is essential for scheduling any remote board meeting. At the same time, it is necessary to make sure that each participant in the meeting can easily track current issues and discussions by making comments and notes. All information should be available to managers in the board portal software used from any device.
- Involve meeting participants in setting the agenda
One person cannot always think through every nuance of business development. Collective participation will help raise and discuss the most pressing issues for the company.
- Using a set schedule of meetings
All meetings must take place on a pre-established schedule. The event’s beginning and end must comply with the predetermined standards for such meetings. An exception may be allowed if there is an urgent need to gather senior management to address critical issues.
- Advance distribution of information data
This is necessary so that members of the board of directors can familiarize themselves with board meeting minutes in advance. Thus, each participant will be able to objectively express their opinion on the current situation and make suggestions for improving the company’s activities.
While remote meetings may seem less formal, they require careful preparation. By sticking to a set plan and pre-selected agenda, you can get the most out of everyone in your meeting.
The tips listed above will help you make your virtual board meeting more efficient. Each paperless meeting solution plays a crucial role in developing the business. As a complex solution to the tasks set, software specially created for such meetings can be used. Typically, such software satisfies all commercial and non-commercial needs. With the help of such a program, you can:
- schedule meetings;
- exchange documents in a secure manner;
- communicate in a virtual meeting;
- make important comments;
When choosing software, consider the scale of your company and the purpose of such meetings. Communication programs for board members allow you to discuss important points safely and as efficiently as possible.