Executing Online Annual Reports

One feature of Online Annual Reports (OARs) often overlooked is ‘execution’. While a lot of investor friendly features can be discussed, designed and even programmed, one aspect that appears to be missing from numerous companies is the ability to complete the report on time and have it ready on game day.

This may be one of the reasons many companies acquiesce to using jpg picture books and other sad imitations of Internet content.

It seems that when evaluating a company for this service (Annual Report conversion to HTML) the client should research the supplier’s process, track record, proofreading capabilities and so forth. While many companies are judged on end results, I’d start by tossing out ones that weren’t ready on time. I’d also seriously question suppliers that don’t have the services done in-house as they will always have less leverage over their suppliers when it comes time to finish things off.

A proper conversion should go through most of the same steps as the website development process, including: scheduling key meetings, decision points, sign off on information architecture, design, clarification of hosting, etc. If the job solely involves conversion of a print piece analysis of target audiences and other message influencing steps are less of a consideration then for a website project as the message cannot be changed.

Messaging and audiences will be more of a consideration in an OAR that is designed as an online piece, as this type of thinking can shape the message, opening page design and links to features of interest to different investor audiences.

For those companies using the 10-K wrapper approach, with the wrapper not actually being part of the official filing, we suggest a summary version be mailed and a more involved version provided online. As long as the materials presented in the wrapper do not go beyond what is contained in the 10-K, this will follow guidelines. The idea is to make key areas prominent, understandable and pleasant to go through in the same manner of old-style annual reports that seemed to care about presentation.

These enhancements need not exacerbate the already tight schedule as they can be planned and prepared in advance, following a well-rehearsed process if you are dealing with an experienced firm.

Everything can be completed by the mailing date or the Notice and Access deadline if you select suppliers who keep the project on track and know what they’re doing and what to watch out for.