Voting is the way boards make decisions on organisational strategy and many other issues.
Formal votes tend to follow a set process that requires a board director to propose a motion and another director to second it. But a wealth of other, less formal decisions also need to be made – anything from the date and location of the next meeting to the approval of the previous meeting’s minutes.
Sometimes these votes are carried out in the meeting, via a show of hands or a verbal response. Confidential ballots may be used if the issue is particularly sensitive. If decisions need to be made between meetings, they are often done over the phone or via email – both of which can be cumbersome and create challenges around security, transparency, efficiency and governance.
To address these issues, and give board members more choice over the way they cast votes, many boards are moving towards online voting.
Enabling board members to vote online has a number of benefits:
- It’s secure: often, the voting feature is part of the portal the board uses to house and access its papers. Board portals are highly secure; your votes are therefore subject to far greater security than they would be via email or phone.
- It creates an audit trail. Transparency and good governance are the watchwords of today’s boards. Voting online records the result in a way that voting over the phone or even in person doesn’t.
- It’s mobile – wherever your directors can access the portal, they are able to vote. With board members who travel frequently or are based in different locations, this can significantly speed decisions.
- It’s user-friendly. A simple voting feature in a system the directors are familiar with makes decision-making quick and straightforward.
VirtualBoardroom’s new voting feature was developed in response to client suggestions. Built into the portal, it’s an intuitive feature that combines ease of voting and swift decisions with best practice governance.
If you’re a VirtualBoardroom client who hasn’t yet used the voting feature, you can contact us to find out more.