A board room online is a video conferencing session that occurs in real time and uses web based tools to allow directors from various locations to be able to participate. Directors can share documents and make notes or comments. The meeting can be recorded and saved to a computer for future reference. Most board portals offer HD audio/video conference, screen sharing, document uploading and downloading capabilities. These tools can be used to hold brainstorming sessions or simple meetings with the board. The e-signature feature in most online board rooms is an effective method to streamline the process of signing and distributing minutes after the meeting.
The online boardroom is similar in technology to traditional conference rooms with a large enough space to accommodate the whole board of directors and an internet connection. The difference is that the meeting is held on a secure website and all documents and discussions are recorded and saved digitally.
A boardroom is the place where decisions are taken that affect everyone from employees to shareholders who own its stock. It is therefore essential to have a room for the board with all the necessary tools to facilitate effective decision-making. A board management software is a virtual dataroom specifically designed to serve this purpose. This software allows members to upload documents and access them, share them and edit them easily. In addition, it can be used to communicate with stakeholders and customers as well as temporarily add third-party users and so on.