A company’s Annual Report is one of the most important documents it produces every year. It provides crucial statutory and strategic information and enables the company’s senior management to explain their thinking and reassure key stakeholders the company is achieving its objectives and is in good health. The Annual Report is the cornerstone of the company’s brand.
Producing an Annual Report is a time-consuming and often stressful process involving co-ordinating the contributions of directors, auditors, designers, printers and registrars to a strict, often short, deadline. The information contained in the Report is confidential until publication or the PR department is ready to release information. Companies are increasingly realising the benefits of using an Annual Report Data Room to produce their Annual Reports.
Data Room technology makes the process more efficient and secure and gives the company more control over production. In addition, Data Room technology is perfect for multiple business processes, including sales, HR, corporate governance and regulatory compliance. Here we look in more detail at the benefits of using an Annual Report Data Room.
The advantages of using an Annual Report Data Room
Security: An Annual Report Data Room is a highly secure space for storing, sharing, exchanging and reviewing confidential information and for the company to collaborate with different parties. It removes the risk around sharing confidential information via unsafe generic file sharing services, emails or texts.
Proof management: The Annual Report Data Room can be set up to the company’s specific requirements to make the process of proof distribution highly efficient. Typically, an ‘In’ and ‘Out’ structure is used. A folder is set up for authorised users to access revised proofs to review anytime from wherever they are. Marked-up proofs are uploaded into a separate folder for the producers and designers to access and work on. Separate folders can be set up for specific parties such as directors, auditors, registrars and PR. Alerts inform users when new material has been uploaded.
Access permissions: Granular permissions protocols prevent unauthorised access to the Data Room and restrict the folders and documents each user can view to those designated by the company. No one can access folders created specifically for directors, auditors, registrars and PR without the requisite permission.
Activity monitoring: Monitoring and recording tools enable the company to see who has (or hasn’t) accessed the Data Room, which documents they have (or haven’t) looked at and for how long. This insight provides evidence of how users have engaged with the latest proof and any accompanying important information, which is very useful for managing the production process.
Version control and Audit Trail: Within the ‘In’ and ‘Out’ proofing folders are sub-folders for each proof stage. This ensures strict version control and captures an audit trail of content. Audit trails of user activity within the Data Room are also retained.
Simplicity: An Annual Report Data Room can be quickly set up and is easy to use. Intuitive controls enable it to be used with minimal instruction.
Future-proof: Once set up a Data Room can be kept open for that year’s Interim Report and future Annual Reports. It provides a single repository for the company’s Reports and ancillary documents.
Perivan has a tremendous amount of experience in designing, producing and distributing Annual Reports in all formats. Our 24-hour typesetting service is very accurate and highly experienced in Annual Report production and works closely with our design team to provide a seamless service.
If you would like to see how Perivan’s Data Room, Engage, can give you greater control over your Annual Reporting process and to find out more about how we can help you with your Annual Report, please get in touch with the Perivan team to arrange a demo and answer your questions.