Digital board meeting is a modern conferencing format that allows boards of directors to meet online. The meetings can be conducted through audio and video tools with a stable internet connection. The meeting files are stored in a board book online accessible by directors at any time, from anywhere. Meeting minutes are also archived in the board portal for easy access. This paperless option helps simplify administrative tasks for co-op and condo board members. It eliminates the need for printed materials, and reduces costs related to distribution storage, photocopying and distribution. It allows remote attendance, which allows for a greater range of social and geographic diversity.
To ensure smooth and effective communication during a digital board meeting the following best practices must be followed:
Send a calendar invitation that includes the agenda on a day before the virtual meeting in order to prepare talk points. This will improve engagement and attendance. The chair of the board needs to be aware of the time difference between the participants and schedule the meeting at a practical hour for everyone.
During https://boardroomdigital.info/importance-of-investment-banking-data-room/ the virtual meeting to encourage participation, use a chat boxes and asking participants to raise their hands before speaking. Keep the meetings brief because long meetings can reduce productivity and cause a lack of engagement. Don’t overflow the entire meeting with a slide show as this can derail discussion and create confusion. Make a schedule with 20% less items to encourage more discussion.