A virtual boardroom is a tool for conferencing that allows remote participants to attend meetings as easily as local attendees. These platforms offer a range of room layouts dependent on the type of activities which will be conducted during the meeting. A brainstorming session, for instance may require a totally different setup than an advising session about succession candidates.
The best virtual boardrooms have simple tools to increase efficiency. A key feature is a clearly defined agenda, which keeps each participant prepared and focused on the things that matter most during the meeting. Software that includes note-taking tools like highlighters or annotations, can help in this. Directors can then summarise the notes and highlights of the previous meeting and present them at the current meeting.
Digital boardrooms enable the storage of data in a safe environment that permits controlled distribution and access. Documents can be secured with passwords to stop unauthorized viewing and sharing. Users can also limit downloading functions to keep information safe. This is a far better alternative than handing out documents in paper form that can be lost or misplaced, and it ensures that all meeting materials are available to the board at any time.
A virtual boardroom can assist in reducing the expense of creating and disseminating board books. These costs can amount to thousands of dollars per year. In addition, last-minute changes to the board book can be made on the fly in a virtual environment. These benefits are particularly beneficial for multinational corporations that may not be able to easily bring board members from different countries together in person.