Is it possible to digitize the boardroom without comprising group dynamics, efficiency, and confidentiality? Yes, in this fast-paced digital world, organizations with the right software such as board effect, tools, and support can pivot their businesses meeting from traditional boardrooms to virtual boardrooms.
What is a Virtual Boardroom?
The virtual boardroom is a cloud-based board portal that allows directions and members to share confidential information and access board materials remotely. The board software is a tool that helps organizations go digital in complete security.
How to Optimize a Virtual Boardroom?
To help your business expand and stay ahead in the game, we have listed some of the best practices that you can opt for to facilitate a better and more engaging board for your company.
1. Build a virtual conference room table
Board software allows you to have the same experience as in-person board meetings. Several board portal providers in the market even offer customization, allowing you to use the virtual platform that fits the particular needs of your organization. Here’s what can you do to enhance the collaboration within such platforms:
- Freeze the screen. Lots of conferencing platforms often come with features that shift the view to display the person who is speaking. To avoid that, you should keep the screen’s view static, showing all board members irrespective of who’s speaking.
- Make a virtual seating arrangement. How to make a virtual board table look as professional as an in-person board table? Try to set up a virtual room by placing the board of directors at the top of the screen while executives at the bottom. Also, the board’s presentation material and presenters should be at the center of the screen.
- Customize background for every participant. The visibility of every board of directors is crucial for engagement. Nonetheless, the different background surroundings of the members are not only distracting but don’t give the vibe of a professional atmosphere. Thus, go for the board software that allows you to create professional brand logos for the background.
- Color code virtual background for every participant for identification purposes. You can take customization a step further by adding colors for each board member, such as using one particular for executives, one for directors, and the other for presenters. Colored backgrounds help differentiate who is present during board meeting discussions and which group they represent.
- Use a second device to view board materials. In addition to the primary device for viewing the virtual meeting room, board portals should come with functionality to be easily accessible from other devices such as the iPad. Directors can check the full-screen webinar version of the board meeting materials by logging into the board portal via the second device. It will help them in replicating in-person board meetings as closely as possible.
2. Reduce meeting day glitches
- Join a board meeting a bit early. For an effective and efficient engagement board, ask the board of directors to join at least 15 minutes before the official meeting. That’s because it will help them ensure they have access to meeting materials, time to solve technical glitches, and even conduct visual or sound checks.
- Provide technical assistance to directors. Establish a technical support hotline for the virtual board meeting with the technology experts and team members of corporate governance who are familiar with the organization’s board portal and communication platform. Keeping the hotline open for two hours helps directors download and set up a virtual meeting room. Also, try to keep the hotline open throughout the meeting; so they have technical support on standby in case of any issues.
Disclaimer: Always keep in mind that technical support connection should be separate from board portal connection to maintain security.
- Assign roles prior to the meeting for smooth execution. Executing a successful virtual meeting takes a lot! Yes, the team needs to plan ahead of time to be sure there are enough members to monitor the virtual waiting room, manage board materials in board software, track and moderate questions, and provide technical assistance.
3. Mind confidentiality
Adding layers of security to essential meeting materials is paramount for board document management. With the help of technical support, reminders, and a combination of the right equipment ensures what happens in the board portal stays in the board portal.
- Provide the directors with the right tools. You can optimize the virtual meeting room by providing essential tools to directors such as speakers, cameras, and high-quality headphones so no one within a hearing radius can hear what is being discussed. Also, send soft reminders to be vigilant in protecting the privacy of virtual meeting rooms.
- Waiting room helps manage conflict. Conflict of interest management and confidentiality play a vital role in conducting a successful virtual meeting. Virtual boardroom logins for executives should be password protected. Board portal software offers waiting room functionality that enables you to coordinate the flow of presenters into or out of the virtual boardroom. Any member of the team who isn’t attending a meeting can be the manager of the waiting room and will only allow the presenters in the meeting room on their allotted time duration.
- Screen video feeds of both directors and presenters. How to check whether the directors and executives are adhering to confidentiality guidelines? The manager of the waiting room can make good use of video and sound check time. Also, they can send soft reminders such as “Wear headphones so nobody can hear what is being discussed in the audio” or “Close the door of the home office.”
Benefits of Adopting Board Software
Speaking of particular benefits board software provides, we should highlight the following:
- It boosts productivity because the board portal offers a seamless ability to share, review, and comment on board documents.
- It makes virtual meetings more forward-looking and strategic.
- It helps in keeping track of agreed actions and outcomes in a single platform.
- It allows board members to access high volume of information securely and conveniently from anywhere.
Board portal enables companies to move beyond the traditional virtual platforms and makes board meeting management a lot easier. With the right board management software, you can put your organization above the competitors.