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Software for Virtual AGMs and Shareholder Meetings
Remote annual general meetings (AGMs) and shareholder meetings have certain end-user requirements that cannot be fully met by standard go-to web conferencing tools (such as Microsoft Teams, Zoom, and Cisco Webex). Info-Tech members might find that these tools can meet most of their requirements for such meetings – webcasting, live events, registration, analytics, and so on. However, for this use case, there is an overlooked redline requirement: real-time weighted voting.
Real-time weighted voting is a capability that falls outside of standard web conferencing tools’ capabilities. Whereas these tools have polling features that follow “one person, one vote,” this capability cannot be configured to meet more complex resolutions that meet shareholders’ or business leaders’ distributed voting powers.
There does exist specialized software that addresses this gap in the web conferencing tool marketspace. These real-time audience engagement technologies are utilized for meetings and events industries, with in-the-room and cloud-based solutions. For members interested, consider:
- Lumi Global: A market leader with 25 years of experience providing end-to-end event management services. Suitable for AGMs, conferences, and other events.
- EventMobi: A customizable events app that includes features such as gamification and networking.
- Broadridge’s ProxyVote: A digital platform primarily aimed at financial services and securityholder participation.
Of course, organizations that already have web conferencing tool licenses should be cognizant of not unnecessarily bloating their collaboration toolset. Workarounds for weighted voting might include:
- Collecting the votes before the meeting and reporting the results live.
- Collecting the votes live and feeding them into a spreadsheet that calculates the weight of that vote. (The potential for technological or logistical problems are highest here.)
- Collecting the votes live but calculating the results offline.
To manage expectations, ensure there is full communication and transparency about the process.
Source: SoftwareReviews Web Conferencing Data Quadrant. Published April 20, 2020.
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