Digital board meetings are an innovative conferencing format which allows boards of directors to meet on the internet. Meetings can be conducted by using audio and video tools with an internet connection that is stable. Directors can access meeting files online in an online boardbook, which can be accessed from any review boardroomdigital.info/importance-of-investment-banking-data-room/ location. The board portal also stores minutes of meetings to make them easy to access. This paperless option helps simplify the administrative tasks of condo and co-op board members. It eliminates the need for printed materials and also eliminates the costs associated with distribution of materials, photocopying and storage. It also enables boards to attain quorum through remote attendance and providing more social and geographical diversity.

The following best practices will ensure smooth and efficient communication at digital board meetings:

Before the day of the virtual meeting Send a calendar invitation along with an agenda to prepare talk points. This will boost engagement and attendance. The chair of the board needs to be aware of time-related differences and set the meeting to the time that is most practical for all participants.

Encourage participation in the virtual meeting by using chatboxes and asking participants to raise their hands prior to speaking. Keep the meetings short because long meetings can be disruptive to productivity and reduce engagement. Also, don’t fill the entire meeting with a presentation slide as it may hinder discussion and cause confusion. Instead, create an agenda with 20% fewer items in order to facilitate discussion.