Homegrown New Zealand software provider Webscope announced this week that the Virtual AGM platform it built for Link Market Services has seen increased demand since successfully running the Xero and Z Energy annual general meetings last year.
The Virtual AGM enables businesses to conduct their annual meetings in a completely digital format.
Shareholders can attend the meeting from their own home through an app on their smartphone which allows them to read statements, vote on resolutions and ask questions.
Recently, Z Energy conducted their 2017 AGM and utilised not only the Virtual AGM platform but another tool built by Webscope for Link Market Services which allowed shareholders to phone in and listen to the AGM live, ask questions and vote via key commands on their phone.
Webscope delivers digital innovation for businesses through software engineering, design and strategy.
Founded in 2011, it's now grown to a team of 11 and has qualified for the Deloittes Fast 50 as one of New Zealand's fastest growing companies.
Primarily based in Auckland with a satellite office in Queenstown, it works with clients ranging from small-scale startups to large multinationals both locally and around the world.
“We're passionate about helping our clients increase efficiency,” says Katie Graham, Webscope director.
“Our innovation and strategy team love helping clients identify how they can do this, and our development team love engineering and delivering these solutions while working with the latest and greatest technology.
With a greater reach and ease of shareholder participation as well as reduced costs and time constraints - the Virtual AGM is seeing more and more interest by both NZ and Australian public companies.
Xero will be using the Virtual AGM again in 2017 and two large Australian companies with over a million shareholders each will both be using the virtual AGM for the first time late this year.
Link Market Services has been thrilled with the Virtual AGM so far - they are the first in their industry to offer this technology and it has run flawlessly with every AGM it has been incorporated into.
“Link's vision is to assist clients to engage with their stakeholders no matter their geographic location or engagement preference, utilising the Virtual Meeting Platform allows for this,” says Will Malan, Link Market Services head of client management and IT.
“The methodologies and tools that Webscope uses ensures clear communication and total transparency during the project that allowed Webscope to become an extension of our development team rather than just another outsource provider we had to manage,” Malan adds.