Digital board meetings are a brand new conference format that allows directors' boards to meet on the internet. The meetings are conducted using audio and video communication tools with a stable internet https://boardroomdigital.info/importance-of-investment-banking-data-room/ connection. The meeting documents are stored in an online board book which is accessible by directors at any time, anywhere. Minutes of meetings are also saved in the board portal for easy access. This paperless option helps simplify administrative tasks for condo and co-op board members. It eliminates the need for paper-based materials and also eliminates distribution, printing, photocopying, storage, and other associated costs. It also allows boards to attain quorum through remote attendance and enabling a wider range of social and geographical diversity.

To ensure smooth and efficient communication during a meeting on a digital board the best practices for digital board meetings should be followed:

Day before the virtual meeting Send a calendar invitation along with an agenda to prepare talking points. This will increase engagement and attendance. The board chair should be aware of the time difference between the members and arrange the meeting at a practical hour for everyone.

During the virtual meeting, encourage participation by using a chat box and asking participants to raise their hands before speaking. Be sure to keep sessions short since long meetings can reduce productivity and decrease engagement. Don't fill up the entire meeting with a presentation slide because it could impede discussions and create confusion. Create an agenda that has 20% fewer items to encourage discussion.