Corporations with shareholders must hold elections on an annual basis. However, when shareholders are spread across the United States, in-person elections and voting by mail can be inconvenient.
Digital proxy online voting systems make it easier for shareholders or their proxies to vote quickly and securely. Online voting also significantly boosts voter turnout and confidence in the democratic process.
Luckily, tools like ElectionBuddy offer a secure online voting platform tailormade for companies, HOAs, unions, and other organizations. Whether a shareholder casts their ballots themselves or a proxy casts the vote, the results are the same. Vote tabulation also occurs instantly when the election is finished for fast results.
Proxy voting is when a shareholder gives the rights to cast their vote to a third party. This is usually a trusted friend or family member, but it can also be an attorney. The person granted proxy rights can attend meetings and vote on the shareholders behalf.
Online voting by proxy functions exactly the same as standard proxy voting. The only difference is that the proxy receives their instructions and proxy authorization via email. Once an individual has been selected as a proxy, they can login and vote just as the primary shareholder would.
In some ways, digital proxies are more secure than traditional proxies. With a traditional proxy, a proxy form could be forged to make it look as though someone had the right to vote as another’s proxy. Digital proxies prevent this by only allowing a proxy to be chosen after a user has securely logged in for the first time.
The voter chooses the proxy voting option, which triggers email alerts to be sent to the proxy. The proxy can then login and vote. The key difference is that every login to the system is recorded in digital logs that can be accessed after the election should any fraud be suspected.
With detailed digital receipts, audits can be conducted and discrepancies can be located and corrected quickly. This further minimizes the chances of an incorrect or fraudulent proxy vote.
Quality online voting systems, like those offered by ElectionBuddy, use the same 256-bit encryption methods employed by large banks. We also offer two-factor authentication, such as text messages and emails, to verify logins. By taking advantage of this technology in shareholder voting, each step provides another layer of security, making proxy fraud nearly impossible.
Shareholder companies aren’t the only ones that can benefit from online voting–HOAs and unions can reap the rewards, as well. California and Florida smartphone ballot submission for HOAs is one such use. These states have large populations of homeowners who don’t live in the state year-round, and online voting for HOAs can vastly improve voter participation.
Even with proxy votes, ElectionBuddy can help make an organization’s next shareholder, HOA, or union vote easier, faster, and more secure than ever before!
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