Board member remote voting allows directors to vote at meetings, without the need to travel, or disrupt business operations. It saves both time and money since it eliminates the requirement for board members to travel and pay for travel, trains buses, hotels or business meals. It also helps to reduce the costs of printing and storing documents.
If you choose to allow board members to vote by email during a virtual meeting, you must establish an unambiguous voting procedure. Also, you must ensure that all the requirements are satisfied to make a vote valid. First, the procedure for voting must be clearly stated (including a definition of «yes», «no» and «abstention») in the agenda for the meeting. Each board member must respond to the call for votes within a reasonable amount of time. Finally, the presiding official should ensure that the voting process is complete and the results are recorded in the meeting’s minutes.
It is highly recommended to change to a web-based board portal to allow your board members to be able to vote in a safe and efficient manner. These platforms provide the highest level of security, ensuring that all the details are secured and nobody can alter the results. These tools will also increase board participation as directors will be encouraged to voice their opinions and participate in discussions prior to deciding on issues.