With the help of the board software for electronic voting, the boards can vote online at meetings using a single interface and a single identification procedure. Here is more about the advantages and capabilities of the service.
The board of directors in modern reality: digital voting
According to research, 91% of companies are currently implementing digital initiatives that impact revenue to some extent, whether in marketing, customer service, logistics, HR or communications. The use of digital tools to manage the activities of the company’s board of directors is one area that has recently become more popular.
Board decisions can now be stored electronically and organized by companies using the cloud. Most of these systems also offer powerful search capabilities that make finding meeting notes, agenda items, and other important information from board resolutions easy. The board of directors’ software can also allow members to vote online. These systems provide a high level of customization, including closed voting periods, data analysis, and voting anonymity.
The functionality of board portal solutions makes it possible to conduct full-fledged and legitimate electronic voting within the system, generate a ballot and minutes of the meeting, and approve the minutes. Voting participants can be located anywhere in the world, vote offline, and their vote will be taken into account when the connection is restored.
What are the benefits?
Electronic voting is a trend of the times, and sooner or later, most issues will be solved in this format. It is convenient and not time-consuming. Two main issues with such an organization of the process are data protection and the absence of failures at the time of voting, but these are rather technical things that can be solved. We now live in an era in which time is a central value. We are already accustomed to quickly receiving information and quickly making decisions. Thus, the board management software is solution number one, which uses voting by email. So, voting by email board of directors increases the efficiency of their operation.
The benefits of the board software voting system are as follows:
- Reducing costs by eliminating the distribution of information on paper;
- Acceleration of the counting process;
- Increasing the number of participants at the event;
- Convenient voting service;
- Involvement of participants in the event and corporate development of the company;
- The ability to define the parameters of the meeting, set the voting period, download materials for the meeting and fill in the ballot questions;
- Access to real-time voting statistics;
- Possibility of online communication with shareholders;
- “Branding” the meeting page with your logo;
- Ability to register non-voting observers to access materials and video broadcasts;
- Expansion of the voting function for participants, with the ability to leave an explanation for the left vote;
- Participation in voting, acquaintance with materials and documents even in the absence of an Internet connection.
The software allows voting not only at meetings of shareholders but also at other events, including meetings of LLC participants, committees, forums, and seminars. Electronic voting at an in-person board of directors meeting is limited by the deadlines set at the convening of the meeting. Possible options for holding a meeting are in person, in absentia, with a preliminary stage of voting.