Boardroom meetings online allow directors to join meetings via remote. They can connect to the meeting using their smartphones or laptops, using a videoconferencing software and the right hardware, as well as a stable internet connection. This is much more convenient than traveling to the venue or waiting for everyone to arrive.
The technology also allows companies to save money on renting the space for meetings. It is also much easier to obtain the quorum requirement, since all members are able to attend a meeting without having to travel. The online platform permits companies to invite diverse board members, and gain fresh perspectives.
Virtual meetings have many challenges, despite the many benefits. Participants might struggle to focus on the conversation in the event that they are sitting at their desks, or if they are trying to check their email. It can be a challenge for the chairperson of virtual meetings to keep everyone focused on the topic and stay clear of distractions.
Another drawback of virtual meetings is that they may be susceptible to security breaches. Board directors frequently discuss sensitive financial information and information during meetings. Therefore, it is crucial that they can trust their data to be secure when sharing it online. This is why it is important to use a reliable board management system with features that enable secure sharing and storage of data.