Due to the ongoing crisis in the entire nation, conducting business meetings offline is difficult and risky. Business meetings once a year for discussing the strategies and other work-related for business, for a business to run at least. Annual general meetings (AGM) were associated with in-person attendance, but now that is not safe to conduct, so AGMs have moved to a digital environment.
What are virtual AGMs?
The annual general meetings are mandatory meetings held every year by shareholders of the company. The shareholders vote for the company’s operations during the meeting and participate in the discussions. The directors give briefs about critical information related to the company like the annual performance of the company, strategies, and goals in the meeting. The Virtual AGM is held online but equivalent to in-person meetings. The meetings can be in hybrid form for the participants who cannot attend the offline meetings.
Benefits of online AGM
- Shareholders can participate from anywhere regardless of the location.
- Shareholders do not have to travel, so it saves them money and time, and the carbon footprint of the company also reduces.
- Question answers and messaging are permitted that ensures that shareholders can hold the board to an account effectively.
- The process is transparent as it is digital voting, and participants are shown instant results and complete audit trails.
The company should need a sound broadcast and an entire image of the event. There should be a secured process of authentication. There should be an option to send messages digitally that can be read out and replied to by the board. They should send the access data electronically to the shareholders before the meeting so that they can access the portal online. Companies should find authentic and dependable platforms that are safe for conducting meetings. So, there is no leakage of critical data of the company. Use end-to-end encryption platforms for conducting virtual AGM.