13 Jul For the record: meeting transcripts in today’s virtual business world
We are experts in all types of meeting transcripts, and with the shift from face-to-face meetings to virtual meetings, we have identified some ways finance professionals can enhance the quality of their records that will be beneficial to them now and, indeed, in the future.
We have over 13 years’ experience of processing top-quality transcripts – whether from audio of actual meetings or call reports dictated after that need to be transcribed – and we have learned a lot during this time about what constitutes a ‘good’ record that is both effective and valuable.
Do all online meeting tools have a transcription service?
Some do. Most that do employ speech-to-text functionality, but we’d advise you to check the security (see below) so you know how these applications and companies are recording and converting your meeting – and where your sound file or automated transcript is being stored. If they don’t record for you, or you are not happy from a data security point of view, then you can dictate the meeting notes after the call – this generally only takes a few minutes and captures vital information and next steps.
Tips for receiving a perfect transcript:
Of paramount importance is organisation. If you are holding a virtual meeting with two or more people, have a clear agenda and leader. This might sound obvious and something one should exercise in any meeting, but often we hear the meeting start with no introductions or the leader not stating the purpose of the meeting.
Ensure every meeting has a clear, defined conclusion and follow-up, as again, a non-face-to-face environment could be the enemy of clarity when it comes to ‘what happens next’ if this isn’t accounted for. If you need next steps accounted for, for legal or regulatory purposes, or actions from a board meeting, for instance, to adhere to SM&CR regulations, this is key.
Finally, as you would after every meeting, complete minutes. If this is something that is an additional time drain, then use a confidential dictation and meeting transcript service like VoiceNotes, who will deliver a word-perfect, fully proofed record of your meeting that you can circulate with confidence to the attendees and other interested parties.
What are the common mistakes people make using them?
In our experience of working with lengthy meeting transcripts, particularly when the sole focus is on the voices coming through, we often find that a poor set-up leads to some attendees not being heard clearly, be that due to the quality of the recording device or their location and background noise. Speakers talking over one another is another hindrance when capturing what is being said, and in a virtual environment, saying, ‘Sorry, I didn’t hear so and so’ isn’t as easy as in a physical setting, which further contributes to loss of cohesion.
Finally, another common mistake is neglecting to write up meeting notes from virtual meetings, believing that a ‘recording’ of the meeting, audio or visual, is enough. A formal overview or a transcript is required to adhere to mandatory compliance requirements.
What features should you be looking for?
Security and reliability: If you are using an internet-based tool, consider whether it’s safe from a confidentiality point of view. The financial sector is incredibly strict where data protection is concerned, so check the app or tool is not automatically set to sync or back up recordings or video of your meetings to the Cloud.
If you choose a tool that can generate meeting transcripts itself, again, consider data control and sensitivity, as you are, in effect, giving it permission to access your content. Many of these tools and apps lack this level of security required by industries such as finance; they simply haven’t needed to have it in a pre-COVID-19 world.
If it helps, click here for the security measures we have in place.
What security issues should I be considering when looking for a transcription company specialising in meeting transcripts?
For every meeting, you should ensure you know where your data is being streamed or held when using these tools and check whether this meets your company’s compliance code, especially for meetings pertaining to sensitive subject matter. If there is password protection that controls who can access a live meeting or call, it should be implemented to the best of its ability.
If you need a transcription of meeting, choose an ISO-accredited transcription company specialising in the financial sector already who can complete an Information Security questionnaire and clearly evidence that they are looking after your data.
For more details about our transcription service and how it works, click here.
Here are some further articles you may be interested in:
For details on how to record a meeting note for MiFID II, click here.
In July 2020, our infamous article ‘From Regulation To Recession’ was published. If you’d like to read this article, click here.
For testimonials and other banks and investment firms who use VoiceNotes, please click here.
If you would like to use our online calculator to see how much time writing up your meetings notes takes, click here.
Please get in touch with any questions or to request a free trial of our service: firstname.lastname@example.org / 0207 117 0066 / online form.