Board meetings are already a time commitment. They can take a full day - sometimes even two - and require a great deal of attention. And what’s worse than a long meeting? A long, disorganised meeting.
Good board meetings are not just about the content, but about the work that goes into planning and executing the meeting itself - getting out materials in enough time, ensuring that everyone has access to all of the documents, setting a clear agenda, providing enough background for all attendees, and making sure everything runs smoothly.
The first and best way - especially in this day and age - to get the ball rolling is by using trusted technology to help manage meeting logistics. Tools - such as Shaparency’s board management system - increase the efficiency and effectiveness of board and shareholder operations to save money, time, improve governance and the shareholder experience.
After getting a board management tool, here are the five things you can do to streamline the meeting experience:
Streamline board meeting prep
In the past, meeting organisers had to leave enough time to gather, print, and send all meeting materials to attendees. If there were last-minute changes, the board prep materials were no longer relevant, and either new packets would need to go out, or updates would have to be given live during the meeting - adding extra time and leaving people frustrated. Using technology to support in board meeting prep will alleviate time, money, and stress, and will increase efficiency and productivity. Digital prep also saves paper and ensures that all attendees can get the most up to date information and documents in real-time.
Centralise access to board materials
In the past, materials from board meetings would be stored in a box, in a room, in an office somewhere. They could get lost and were always difficult to find when you needed them. Using a digital platform with a board portal allows companies to store all materials in one place - making them easy to find. This includes everything from previous board minutes, new meeting materials, legal docs, policies, reports - everything you could need!
Provide live updates
No longer do boards need to use snail mail to send sensitive information. By using a digital platform, boards have the ability to use conferencing tools - such as live, secure voting, document editing, and live signatures, to get work done. This allows everyone to view documents and make decisions in real-time, without the need to hand-send important documents after the fact.
Adapt to life on-the-go
Let’s be real - we are a species on the go. Even when we are at work, we are also driving to the supermarket, walking the dog, or doing a myriad of other tasks. Busy board members do not have the time to sit at a computer for an entire day to attend a meeting - which is why the meeting needs to be amenable to being conducted in a way that works for everyone. By using a digital platform that people can integrate into their phone or portable device, all board members will be able to live their lives, and also participate in the meeting. This will increase attendance and make meetings more efficient and productive.
Secure the meeting
Board meetings - and board documents - contain a company’s most sensitive information, and it needs to be kept secure. Using a platform built with blockchain technology will help ensure that all records and documents are tamper-proof, meaning that meetings cannot be hacked, and a crisis scenario will not ensue. Letting all board members know that their information - as well as the company’s - is safe will put people at ease and encourage them to participate in the meeting.
We all have screen-fatigue - take these steps to make meetings more efficient, productive, and enjoyable.
