A virtual boardroom is an online meeting platform that digitalizes the boardroom function and offers a variety of tools to increase efficiency. The primary issues that it solves are:

A digital solution is the best method to reach this goal. A specially designed board portal allows board members to communicate in real-time, and provides an efficient document management system and security.

A digital boardroom makes it possible to share documents and review them from anywhere with internet access. This is a huge benefit for those with limited access or who need to attend meetings at short notice. Additionally the fact that a centralized environment ensures that all meeting materials are updated instantly. This prevents the frustration of waiting for hours, if not days to receive a revised version of the agenda for a board meeting or an addendum.

A digital boardroom may also aid in the resolution of issues related to recording minutes. With pre-designed templates minutes takers can ensure that minutes contain only important discussion points and avoid informal discussions and personal opinions, which could result in legal issues. The platform lets participants receive follow-up tasks and ensures that all actions are carried out.

A virtual boardroom is more secure than a physical meeting. There is a chance that papers could be lost or couriers make mistakes. However, the data in a virtual boardroom is encrypted and protected from any unauthorized access.

https://boardroomcommunity.com/comprehensive-guide-to-buy-side-vs-sell-side-virtual-data-rooms/