The disruption caused due to the recent global pandemic has shown a great impact on public gatherings. The change in dynamics and the restrictions imposed on traveling has resulted in cancellation/rescheduling of various events across the globe.
Virtual events have been in prevalence for many years. With the changing time, many organizations have stepped up their game and entered a gateway to virtual events recently. A huge incline towards online events has been witnessed in the past few months.
Virtual meetings have become immensely popular with each passing day. Many companies are adopting this online way to communicate with their shareholders residing in any corner of the world.
With the increasing popularity of virtual AGMs, many companies have opted to move annual general meetings in digital space. However, a switch from traditional ways of conducting annual general meetings to virtual annual general meetings requires a change in a lot of things.
Till today shareholder meetings are carried out in a physical space and require physical attendance. But due to the turbulence caused due to COVID-19 pandemic, virtual annual shareholder meetings have become the best bet for companies to rely on to communicate with shareholders remotely. It not only helped up in saving time and revenue along with increased participation but also resulted in safeguarding the health of people.
Hosting hybrid/virtual events and meetings on the best AGM platform has become the trend, helping organizations to leverage the benefits it serves. You must be thinking of what are annual general meetings? And why are they so important for any company?
What are Virtual Annual General Meetings?
Annual general meetings are an important and mandatory event for any company that is carried out annually. It is a general meeting held between the director & the interested shareholders of the company. In AGM, the director of the company presents an annual report and discusses the strategies and performance of the company over the year.
Due to geographical barriers, many interested shareholders miss out on attending an in-person AGM resulting in missing out on important discussions. Walking with time, companies have decided to shift events in a virtual space and host virtual AGMs.
A meeting conducted between the interested shareholders and the director of the company in a virtual space, to communicate companies’ annual performance, strategies & discuss goals for the upcoming year is known as virtual Annual General Meetings.
A switch in company events due to COVID-19 resulted in overcoming the geographical constraints, thus resulting in increased participation. Virtual annual shareholder meetings on the best Virtual AGM platform allows shareholders to tune in from anywhere around the world from the comfort of their own space.
How Virtual Annual General Meetings are Beneficial for any Company?
Virtual AGMs are hosted on a reliable AGM platform. It allows shareholders to participate in meetings from their remote locations, without having to travel to attend a meeting. The best virtual AGM platform offers networking opportunities that allow shareholders to vote on key company operations and share their thoughts in real-time via interactive tools such as polls, surveys, live chats, Q & A sessions, etc. in a safe and secure environment.
AGM platform enables AGM Video Conferencing services that deliver immersive in-person event experiences. Virtual AGMs are far more accessible than physical AGMs that result in increased attendance and better engagements.
When compared to in-person AGMs, virtual annual shareholder meetings are the best bet for any company. It is indeed a cost-effective measure for conducting meetings. The cost of travel, accommodation, venue, food & drinks doesn’t exist anymore with virtual AGMs.
Virtual Annual General Meetings are highly trackable, it helps in tracking the analytics of the event. Right from the registration, login, share, views, clicks, the number of questions asked, etc. everything is tracked seamlessly in a virtual format right from the start of the event till it ends. The tracking of metrics makes it easy to measure the success of the event.
Ever since the outbreak of COVID-19, virtual meetings have been in the news. It is one of the most convenient ways to reach shareholders residing in any corner of the world. There is no doubt, virtual AGMs have become the new norm and made the flow of communication much easier.
What is the difference between Virtual AGM and In-Person Physical Meetings?
The concept of conducting virtual AGM is the same as in-person annual shareholder meetings but in a virtual format. The only difference is, it is carried out in a virtual space on the virtual AGM platform which allows attendees/shareholders to join the meeting and be part of important discussions from their remote locations. Virtual annual general meetings overcome the barrier of geographical constraints due to which interested shareholders miss out on in-person meetings.
The shareholders get the same privilege and transparency with virtual AGM that they usually get from physical meetings. The annual report, discussion on overall performance & strategies of the company, planning on goals for the upcoming year, getting valuable feedback, etc. all remain the same but carried out in a virtual format on a virtual event platform via AGM Video Conferencing.
Increased accessibility, attendance, and participation in a cost-effective way are other merits of virtual AGMs.
Is Hosting Virtual Annual General Meetings Safe?
As technology advances, robust technology measures are used for hosting virtual meetings on a virtual event platform. It offers high-level security along with a strong and secure network connection to connect with shareholders globally. The strict authentication and access control prevent the unauthorized third party from gaining access to sensitive data.
Virtual AGM platforms are completely safe and secure, thus keeping your company’s privacy intact. The best platforms keep the confidential information of the company and attendees information safe and secure.
How Virtual Annual Shareholder Meetings Save Revenue?
The amount spent on organizing in-person meetings dips down considerably with virtual meetings. While hosting a virtual AGM, you do not need to book a venue, incur travel & accommodation costs, purchase refreshments, or do paperwork, thus resulting in saving a lot of revenues and achieving better results.
Why should Companies Switch to Virtual Annual General Meetings?
In times like today, where the restriction has been imposed on travel due to the global crisis, virtual meetings are the safest alternative for in-person meetings to keep the business running seamlessly without any effect from the external environment.
Virtual events have become the new normal and are a way to go in the coming years. Companies that want to maintain operations and achieve goals effectively, should switch from traditional ways of meetings to virtual AGMs.
Never thought about hosting a virtual AGM? Now is the time to move your AGM to a virtual format.