https://boardroomcommunity.com/comprehensive-guide-to-buy-side-vs-sell-side-virtual-data-rooms/
Virtual Boardroom is a paperless platform for meetings that digitizes the boardroom’s functions. It also provides various tools to increase efficiency. The primary issues that it solves are:
Digital solutions are the most efficient way to achieve this objective. A custom-designed board portal lets board members to communicate in real-time and also provides an efficient document management system and security.
With an online boardroom, it’s simple to access and share documents from anywhere with internet access. This is a major benefit for those with a limited schedule or who require meetings at short notice. A centralized environment also means that all meeting materials can be revised immediately. This eliminates the frustration that comes with waiting for hours, or even days, to get a revised version of an agenda or an addendum.
A digital boardroom can also assist in resolving issues with recording minutes. Minute takers can make use of templates to ensure that minutes only contain the most important discussion points. This can help them avoid informal discussions or personal opinions which could have legal implications. The platform allows participants to receive follow-up assignments, ensuring that all actions are followed.
A virtual meeting is also more secure than a real meeting. While it’s possible for documents to be lost in the shuffle, or for couriers to make mistakes but the data inside a digital boardroom is secured and protected from unauthorised access and keeping the information confidential.