Is Virtual AGM Better Than Physical AGM? Traditional Vs Modern Method

In this weather of the on-going pandemic, many companies don’t get a chance to connect with their clients and shareholders. It might be due to the old traditions of physical meet up restricted due to the pandemic. In the world of advanced technologies, the world is progressing with the help of the internet. It is a platform established where the audience and the company come together.

What is an AGM?

The directors of a company conduct what is called an Annual General Meeting (AGM). Here, they present the statistical data, analysis, and yearly progress report of their company to the potential shareholders. It helps in establishing a direct conversation between shareholders and directors of the company. The shareholders also attain the right to vote on the company’s decisions.

What makes virtually conducted AGM better than physical AGM?

These benefits work for shareholders and the board of directors of that company, making it a win-win situation for both parties.

  • Highly Convenient Technology makes it convenient for everyone. Both audience and host can enjoy doing their work from the comfort of their homes.
  • Quick voting results– Due to progressing technologiesresults of the voting are given out immediately. Also, since everything is the digitalized audience can get live polling updates.
  • Saves time- It cuts the time-consuming nature of physical AGM and traveling cost for the audience who wish to attend the meetings. In a physical meet up, shareholders travel long distances to attend the annual meet of a company. It avails the ability of a shareholder who cannot afford to travel.
  • Cut expense big-time– Cost-cutting is one of the advantages that Virtual AGM has to offer. It reduces cost in factors like venue, accommodation, catering, and travel of its audience.

Ground-report after conducting an AGM virtually,

In this digitally increasing world, Virtual AGM is becoming more popular. Reports show that companies who hold these virtual meeting saw a drastic increase by 300% of people attending the meetings. An increase in the number of audiences indicates an increase in opinions and counterparts beneficial for the company.

AGM might lose its value if it is not improvised, and jazzing up AGMs with technology is the answer. AGM is a more interactive platform used for voting and attendance.