The International Tennis Federation's Board of Directors has unanimously endorsed a "package of comprehensive reforms" for both Davis Cup and Fed Cup at a meeting in Indian Wells.
The recommendations will have to be ratified by the ITF's AGM in Vietnam in August.
Changes were discussed following a review of current match formats.
Any reform will require a formal vote of approval.
Last September, the ITF announced plans to introduce fixed host cities for future Davis Cup and Fed Cup finals.
The ITF is trying to come up with a format which will encourage more top players to commit to the competitions.
Novak Djokovic was the only member of the world's top ten to feature in last month's Davis Cup World Group first round ties.
Davis Cup matches are very likely to be played over three sets in future - and ties could last just two days.