Choosing the Right Board Meeting Tool for Your Firm

Board Meeting Tool

The general meeting of managers is the most important and integral event in the life of a joint-stock company. Its holding allows shareholders of the company to receive up-to-date information about its activities and exercise their rights to participate in its management by voting on certain issues on the agenda. General meetings are of different types and forms, and each shareholder needs to understand these nuances.

Forms of holding a meeting of shareholders

The General Meeting of Shareholders may be held in the following forms:

  • Meeting (full-time form).
  • Absentee voting (correspondence form).

A meeting is a form of holding a general meeting of shareholders that involves the joint presence of shareholders or their legal representatives to discuss agenda items and make decisions on issues put to the vote.

Absentee voting is a form of holding a general meeting of shareholders. It does not involve the attendance of shareholders or their legal representatives and is carried out by voting by ballots. The date of its holding is the closing date for the receipt of voting ballots.

Each country has its own legislation, in which case a meeting of company managers cannot be held in absentia. However, the changes that have taken place since the start of the COVID pandemic have forced many of the questions to move to an online form. That is why now, more and more companies are turning to various services for secure and comfortable online meetings of managers.

How do you choose a board portal for a company?

As you may have noticed, shareholders’ meetings can be held in person and in absentia. However, modern realities have led to managers preferring to meet online. According to the letter of the law, thanks to the use of electronic signatures, such a meeting can be a complete analog of a face-to-face meeting.

  • Board portals help to hold online meetings with the full functionality of face-to-face meetings. Use the following guidelines to select the right service for your business.
  • Decide on a budget. Before choosing a program, consider how much money per month for each participant or the full software you are not sorry to spend. Budget portals for managers can cost from 50 to 500 dollars a month, more expensive programs designed for large corporate clients are often quite expensive – they reach thousands or even tens of thousands of dollars a year.
  • Functional. Do you only need a board portal, or would you also like a virtual data room to store your files securely? If yes, then look for software with just such an opportunity.
  • The convenience of the interface. It is important that all employees of your company quickly master the program. To do this, it must have an attractive and simple design and an intuitive interface.

Such applications include Diligent Boardbooks, Azeus Convene, BoardCloud, Boardfolio Praxonomy, BoardMaps, iDeals, and others.