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Jonas Jonell, KWD
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Corporate reporting - From print to digital
Jonas Jonell, KWD
KWD
1. Information overflow
· Can web technology make annual reports comprehensible and customisable to different stakeholders?
Annu
al
Rep
ort
2010
Annu
al
Rep
ort
2000
Annu
al
Rep
ort
1990
Things were easier before
Ericsson Annual Report 1901, 6 pages including cover
Cover Report of directors Income statement Balance sheets Proposed appropriation of
earnings
Then came the avalanche
Annu
al
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ort
2010
Annu
al
Rep
ort
2005Annu
al
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ort
2003An
nual
R
epor
t 19
90Annu
al
Rep
ort
1980An
nual
R
epor
t 19
70
1970Legal document
1980Adding of Company-presentation
1990Environment, CSR,sustainability sections added
2003New legal requirements by IFRS
2005Increased demands on Corporate governance reporting
2010New regulations after the financial crisis?
Avalanche example: Electrolux 1950-2008
1950
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0
50
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15 24
4856 60
7680
8598
114122
138
158
178
Number of pages
IFRS
Environmental reporting
CSR
Corporate governance
Why is this?
· It is the most prestigious document from the company· Its usage has broadened, but the format remains
Professional readersNon-professional readers
EmployeesSociety Small shareholders
VendorsPartners
Customers Journalists Authorities Large shareholders,Institutionalinvestors
Analysts
Annu
al
Rep
ort
2010
Is this really the best way to communicate the corporate story?
Can we use the web format to make annual reports comprehensible and customised, like Wikipedia?
Customised information
· Different readers have different needs
What is the dividend?
I want to learn more about x
I want to know even more about x
What is the financial situation of your vendors?
What is the board’s payment?
I want to know more about your CEO
I don’t believe in this market figure!
I want a printed version!
EmployeesSocietySmall
shareholdersVendorsPartners Customers Journalists Authorities
Large shareholders,Institutionalinvestors Analysts
What are the main trends?
Customised information
· Search· Quick questions are best answered with the web’s search capability· Besides quick answers, search also provides related information, like
policies for dividend or remuneration, throughout the entire report
EmployeesSocietySmall
shareholdersVendorsPartners Customers Journalists Authorities
Large shareholders,Institutionalinvestors Analysts
What is the dividend?
I want to learn more about x
I want to know even more about x
What is the financial situation of your vendors?
What is the board’s payment?
I want to know more about your CEO
I don’t believe in this market figure!
I want a printed version!
What are the main trends?
Customised information
· Drill down· Hyperlinking is the reason for the breakthrough of www in the 1990’s· Use it as internal shortcuts or to external parties, like industry press
articles, to the company’s vendors, or to third party market surveys· This will help the reader to understand your company and its context
What is the dividend?
EmployeesSocietySmall
shareholdersVendorsPartners Customers Journalists Authorities
Large shareholders,Institutionalinvestors Analysts
I want to learn more about x
I want to know even more about x
What is the financial situation of your vendors?
What is the board’s payment?
I want to know more about your CEO
I don’t believe in this market figure!
I want a printed version!
What are the main trends?
Customised information
· Rich media· There is an increased focus on the company’s management and the
CEO as an individual· The CEO’s letter to the shareholders is an effective way to address the
shareholders directly, but a video presentation makes it even more effective and personal.
EmployeesSocietySmall
shareholdersVendorsPartners Customers Journalists Authorities
Large shareholders,Institutionalinvestors Analysts
What is the dividend?
I want to learn more about x
I want to know even more about x
What is the financial situation of your vendors?
What is the board’s payment?
I want to know more about your CEO
I don’t believe in this market figure!
I want a printed version!
What are the main trends?
Customised information
· Customised print· The print media will survive, not only because many authorities still
require a physically signed document, but also because many readers prefer a hard copy.
· However, an online report can provide tools for creating your own, customised PDF file.
EmployeesSocietySmall
shareholdersVendorsPartners Customers Journalists Authorities
Large shareholders,Institutionalinvestors Analysts
What is the dividend?
I want to learn more about x
I want to know even more about x
What is the financial situation of your vendors?
What is the board’s payment?
I want to know more about your CEO
I don’t believe in this market figure!
I want a printed version!
What are the main trends?
Customised information
· Interactivity· Complex financial information is hard to grasp for a non-professional
reader· The web medium has several interactivity features to enhance
pedagogy
EmployeesSocietySmall
shareholdersVendorsPartners Customers Journalists Authorities
Large shareholders,Institutionalinvestors Analysts
What is the dividend?
I want to learn more about x
I want to know even more about x
What is the financial situation of your vendors?
What is the board’s payment?
I want to know more about your CEO
I don’t believe in this market figure!
I want a printed version!
What are the main trends?
Interactivity increases understanding
Can you see the trend? Can you see the trend?
Summary
· The thirst for information will continue to grow, but the web medium is excellent to deal with this
Rich media Search
External hyperlinks for drill down analysis
Internal hyperlinks for additional page entries
Custom PDF creation
2. Production
· How to add another step in an already complex production cycle
A new world for both web agencies and traditional annual report producers
From the web agency point of view· The buyer is not web native· “Let’s publish next week” is not an
option· Top management have stronger
opinions than usual· Content is horizontal rather than
hierarchical in its structure
From the buyer’s point of view· Changes that appear easy might be
very difficult to solve· Changes that appear hard might be
very easy to solve· How do I keep track of interactivity and
internal hyperlinking features?· External hyperlinks, official information
from my company? Wikipedia?
But once your organisation get used to the online format, you will also find production benefits with online annual reporting!
Why don’t wait until things settle down?
· Because then the report is old news· To get best value for the investment, publish the online version
simultaneously as the printed one
Number of visitors
Average day Day of report Increase
Company X 376 838 +123%
Company Y 3 152 4 649 +47%
Company Z 12 280 21 026 +71%
H&H statistics for three Swedish, listed companies
Another example of publish timing
· Nearly 600 visitors on publish day (simultaneously published)· Note that the online annual report does not die, it is revisited on various
investor events
Number of daily visitors on an online annual report for a large Swedish company
0
100
200
300
400
500
600
700Launch
Q1 report
Investor dayQ3 report
Summer Christmas
Semi-parallel production process
· Complete the graphical design and programming of all templates and special pages in good time before the print version is final and sent to the printer house
· After content sign-off, make sure to have the right tools to fill the templates with final content
· Include a launch phase in the time plan to ensure quality
Final sign-off print content
Design Programming Content migration Launch
2-4 weeks(synchronized with
print and distribution)3 weeks to 3 months
(depending on graphical complexity)
Despite all preparations, we still suffer from dual processes.
Isn’t there another way?
Opposite approach: Annual Report 2.0
· Annual Report 2.0: · To create the annual report directly for the web medium, and get a
printed version as a secondary product
The journey towards digital reporting
Draft in MS Word
Typesetting in InDesign
Print ready PDFWeb version conversion
Draft in MS Word
Typesetting in Word
Print ready PDF and web version
Draft and type-setting in Word
Print ready PDF and web version
phase
1
phase
3
phase
2
Benefits with Annual Report 2.0
· Digitalizes your content automatically for multichannel purposes
· One single process instead of two
· Possible to use web writing style from the start
· Sends a clear message that the web is the primary medium, motivating a reduced circulation of printed copies (if any)
· A printed version is still available· But its graphical ambitions is reduced, because those who prefer
the printed version do not appreciate heavy graphics anyway· This lets you reduce your budget, or target your budget to increase the
quality of the web version
Thank you!
Jonas Jonell, KWD
jonas.jonell@halvarsson.se
KWD
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