Adapting to the new COVID-19 reality, companies across the globe increasingly move their annual general meetings (AGM) online. With many solutions available to choose from, picking the best virtual and online AGM platform that meets your organization’s needs might be difficult. To help you navigate the decision-making process, here are points to consider when selecting an electronic, online or virtual AGM solution.
Cost
For many companies considering virtual AGMs, the solution’s price will most likely be one of the biggest determiners.
While many factors make up the price of a solution, the cost of an online AGM platform is usually dependent on the number of features and meeting capacity. So before you start looking for an AGM platform vendor, analyze what features and meeting capacity you’ll need.
Look for providers that offer individually tailored packages that align with your requirements. Tailored solutions help avoid a situation where you pay for features that later won’t be used, resulting in excess costs.
Features
An online AGM solution should effectively manage debate and discussion through an appropriate set of features.
While different company types will have unique needs for their AGMs, AGM features are universally useful.
- Voting. The voting feature is crucial for making decisions and storing a compliant record of the voting. Check whether your organization needs a solution that can facilitate live voting.
- Q&A. An intuitive Q&A feature facilitates shareholder engagement. The question platform—where the participants have adequate time to formulate their questions and review the answers—should be available before, during, and after the meeting. In addition, solutions like ConveneAGM support two-way interactive video to facilitate live question and answer sessions better.
- User list. An interactive user list makes it easier to track attendance for record-keeping.
- Reporting and data exports. Compiling polls and minutes of proceedings helps keep records available for internal and external audits.
- Digital administration of proxies. The management of proxy forms and voting rights improve administrative tasks and delivers a seamless meeting experience.
- Meeting roles. Delegation of in-meeting roles ensures the meeting is organized.
Read: Azeus is the First SGX-listed Company to Conduct a Virtual AGM With Live Voting and Live Q&A
Accessibility
The online AGM solution should be easily accessible via several platforms and devices to further boost attendee participation and engagement. For example, web-based solutions can be accessed through mobile devices without compromising functionality present in the desktop solution.
Mobile versions of the AGM solution should be intuitive and easy to use to allow shareholders of all levels of technical literacy to participate.
Security
An online AGM platform should employ robust security measures to prevent unauthorized third parties from accessing the meeting. Backed by regular third-party testing to screen for vulnerabilities, the best virtual AGM platform remains secure at all times.
The below are must-have features that keep the proceedings secure:
- Two-factor authentication
- Secure cloud environment for data storage
- Tools detecting and preventing intrusion
Support
Having external tech support during and before the meeting ensures that any technical issues can be resolved promptly. Furthermore, easily available tech support reduces possible time loss caused by fixing disruptions.
Tech support should also be easily available for attendees if they would like to troubleshoot ahead of the meeting.
ConveneAGM provides all clients with 24/7 global AGM support, including live support on the day of the AGM.
Compliance
The rules governing annual general meetings are different for every country and region. For example, bylaws specify requirements to be met by organizations looking to hold a virtual AGM. Therefore, it’s important to check what kind of communication qualifies as viable for an online AGM. Usually, the technology should allow participants to communicate simultaneously and instantaneously with each other.
Look for solutions that adhere to regulations governing annual general meetings in your region and country.
To ensure transparency and facilitate auditioning, consider solutions that employ detailed summary reports, data exports, and real-time voting results and Q&A sessions.
Meeting Capacity
Depending on the number of shareholders, your solution of choice needs to accommodate them all.
When picking a provider, check the meeting limit to ensure the solution has the necessary capacity. Remember, the platform needs to host all members regardless of how many actually will attend.
Testimonials
One of the best indicators in choosing a virtual and online AGM platform would be the experiences of other companies that have used the platform. Remember to at look at their testimonials of holding an online AGM and see if the success they experienced can be applied also to your company.
Consider the details that made their online AGM successful and how they made the platform work for their use case. Constructing a successful AGM principally depends if the platform is fit for your organization.
The Best Virtual AGM Platform Increases Participation
An online AGM software facilitates the conduction of annual shareholder meetings. For some organizations, adopting new technology has become a necessity, even among companies who have been reluctant to embrace digitalization.
Some companies report a double or even triple increase in AGM participation after switching to online meetings. Therefore, a secure, convenient, and reliable AGM platform is critical to conduct the meeting successfully. Before deciding to implement your virtual AGM solution, analyze its cost, features, ease of use, and support option to pick a tool that responds to your company’s needs.
For the best virtual AGM experience, ConveneAGM offers companies a fast, seamless, and secure platform for their virtual meeting needs. Find out more information or schedule a product demonstration with our end-to-end virtual AGM solution.