This might shock you, but studies have revealed that one out of three business meetings turns out to be unproductive due to insufficient planning. Moreover, almost 50% of senior-level executives believe that the time they spend in meetings is wasted. In the business context, these figures are alarming for the management.
However, the question stands – what are the possible reasons behind unproductive executive business meetings? Here are some common mistakes that management makes before and during meetings:
- No clear meeting agenda and last-minute changes (that are often not communicated to the participants)
- No effective way to record meeting minutes and important decisions made
- Insufficient access to documents during the meetings
- Improper reporting of meeting minutes and no follow-up actions
Boardsoftware: Effective business meetings
The next question should be, how to solve the above-mentioned problems? There are several high-end meeting software solutions, but most of them do not cover all the dimensions (agenda building and distribution, document sharing, meeting minutes distribution, etc.) of business meetings.
However, virtual boardsoftware is a comprehensive paperless meeting solution specifically designed for board or executive-level meetings. Read on to learn more about virtual boardroom software and how you can use it for productive business meetings.
What is a board portal?
A board portal or board management software is a board meeting management tool globally used to ensure smooth communication between senior company officials and arrange business meetings.
Board portal software is also a safe, online data storage facility where company management can store important documents and board material. Corporations, associations, trade unions, and non-profit organizations use board software for online board meetings, data sharing, and deal-making.
Why is the board portal a suitable solution for productive business meetings?
Board management software streamlines online board meetings from all aspects. Here is how.
1. Meeting agenda builder
Preparing and distributing meeting agenda is among the initial steps of a business meeting. With the virtual boardroom software, the management can easily prepare meeting agendas using customizable templates in the board portals. These templates are designed according to different industry practices. Boardroom management can also create meeting agendas from scratch.
The next step is to share the agenda with all the participants and seek their recommendations. The management can upload the meeting agenda in the boardroom and ask members to add suggestions or comments in real-time.
Alternatively, the agenda can be shared individually, and the changes can be incorporated into the final draft. Once the agenda is approved, the final version can be shared within the board software.
2. Calendar management and instant notifications
Another good thing about board portal software is that the management can prepare business calendars for the whole year in advance and share that calendar with the concerned members. This helps participants prepare better for the meetings.
Apart from that, boardroom members can get instant notifications about all the activities and updates in the boardroom. If there are any changes in the meeting agenda, all concerned members will be notified immediately; this helps avoid last-minute surprises.
3. HD video conferencing tools
High-end video conferencing tools are very important for online board meetings. Virtual boardrooms have built-in HD video conferencing tools, and you can also integrate third-party apps like Zoom for video conferencing.
What makes board portals a better option than many other meeting management tools is that meeting participants can engage in video conferencing and access meeting documents at the same time.
Apart from that, members can use screen markers while discussing any report or company document. It helps in grabbing the attention of all the meeting participants.
4. Online voting and electronic signatures
Modern board portals are equipped with online voting tools that can be used during business meetings. If a meeting is being conducted to approve or reject a motion or proposal, meeting participants can cast online votes in virtual boardrooms. The votes can be cast publically or anonymously.
In addition to that, the electronic signature feature in boardrooms is very handy in signing documents, agreements, or contracts online.
5. Meeting minutes preparation and distribution
Virtual board portal software gives you the ease of recording and finalizing meeting minutes real quick. The meeting manager or corporate secretary can use meeting minutes templates or create new ones. Minutes can be signed by the chairperson within the boardroom and shared with all participants.
6. Fast document access
Board management software are also cloud-based document storage facilities where the management can store board material or documents required for meetings. These documents may include financial statements, meeting agendas, past meeting minutes, etc. Boardroom members can access these documents whenever they want.
7. Easy follow up
Board software allows the management to regularly communicate with the meeting participants and stay updated on their progress related to tasks assigned during the meetings.
Summing it up
Insufficiently planned business meetings not only waste the company’s resources but also waste precious time of meeting participants. Using top-notch meeting management software like board portals helps you easily manage business meetings from start to end and make the follow-ups a lot easier.