One of the most significant events for a major shareholder or an Investor of the company is AGM. The annual AGM holds a huge amount of important and in no way can it be declined or delayed. After the pandemic hit earlier this year, The companies had to change their traditional way of conducting the AGM. They decided on conducting a Virtual AGM. This was the perfect solution for solving the problem of social distancing and physical meetings during COVID 19.
What is a Virtual AGM?
Virtual AGM is when the AGM event is carried out by a digital platform, Any user is able to access the meeting from any electronic device from any place. In this online AGM, a user is able to do all the activities through their devices that usually take place during a physical AGM.
GOCON AGM created an effective virtual AGM solution that has all the features that are required in an AGM meeting.
From Traditional Investor communication way to Digital communication platform?
The Pandemic has taught us that everything unpredictable and we need to be prepared for all kinds of situations and make sure that our business is digitalized and fully functional without a physical outlet.
Digitization is the process of converting all the factors and information from a physical format into an online one. At all stages of the AGM process from notice of meeting or the voting and result publishing, there is a high amount of paper or ‘physical format’ elements involved. But all of these activities and features can be made digital and can easily be done online. Within the context of the AGM, the results would be an efficient, more organized manner, easy to use, and accuracy of voting decisions.
Through making the AGM virtual, this allows us to cut down unnecessary costs that would’ve required for venue booking, refreshments, post-AGM cleanup, preparation time. A virtual AGM solution makes the AGM more effective and accurate. This benefits the shareholders and investors a lot to make future decisions.
The organization’s topmost priority is making sure the shareholders and investors are getting all the data and giving their feedback. That is why a virtual conference platform choosing is a careful process. Usually, the company gives extra effort in choosing the Virtual AGM solution as this is the key for investors to interact and understand the progress of the company.
The company has the duty towards the shareholders and investors to show them results, future projections, voting on a cause, and giving all the insights. There is pressure on shareholders to prove their responsible investor credentials. Companies also need to show the investors the impact of their executive team on the company and showing achieved milestones. All of this becomes achievable and smoother if the companies chose the right investor communication platform, i.e Virtual AGM solution.
It also showed that most companies want to make their virtual AGM transparent, organized and easily accessible. Easier that is from the point at which companies need to communicate the resolutions which require investor approval, feedback on the meeting day itself and the organized counting of the votes, the publishing of the accurate results, and the vote confirmations back to the investors. That is why choosing the right investor communication platform really makes a huge difference in conducting the AGM.
Pros of investor communications platform
It is proven that companies have faced a double increase in the number of attendees in their AGM. This happened as due to the digitalization of AGM, The shareholder and investors are now easily able to attend the AGM regardless of being in any part of the world! Even before COVID 19, Some of the shareholders or investors would be unable to attend the AGM due to the distance, Venue space issue, lengthy process, and chaotic voting system, The list goes on and on about how stressful conducting the Annual AGM is!
Companies after introducing the Virtual AGM option, More investors are able to attend and interact during the meeting. The feedback and results have become more organized. This brings more depth to the organization and its decision-making process.
That’s why emerging virtual AGM solution like GOCON AGM provides efficient and smooth service when it comes to conducting your AGM. The shareholders are more content because of the clarity and tech support of GOCON AGM. Their services had made them get in contract with 20 + organizations in Bangladesh to conduct the Virtual AGM.
Most companies know that the future of AGM is the virtual AGM Solution. However there are many aspects to this, and it is not an all or nothing event. Along with virtual AGM, Companies prefer Hybrid AGMs as well for investors. These options of AGM do exist, GOCON AGM is a major provider for the virtual AGM platform. For any more queries or services regarding the investor communication platform, Reach out to GOCON AGM today.