The answer? The average company annual report (according to Deloitte[i].). 

It's just one of the reasons why you need to be considering a faster, more efficient way of producing what has quickly become more than just an end-of-year summary of your financial position. Today's annual reports have become an opportunity to share your operational performance, investment programs and strategic direction. It’s your chance to communicate a well-managed company that’s taking steps to ensure stability and growth.

What’s clear is that a high-quality annual report can increase the value of your company, helping to attract investment and providing good publicity across your stakeholders – from investors and customers, to employees.

But while the value of a well-crafted annual report is clear, it hasn’t made the production of the annual report any easier. In fact, the average annual report is now 152 pages long and takes 62 days just to approve[i].

Whether it’s assigning tasks to contributors, chasing documents from the auditor, keeping track of document versions, or hunting down approvals to meet your deadline - compiling your annual report can be a true collaboration challenge. And it’s not just senior management, the auditor and the board you need to collaborate with. Today’s annual reports often require the input of marketing and design teams for the final production.

Unfortunately, many organizations are still reliant on email, or outdated file sharing apps, to make this happen. If you’re one of the 68% that has worked on a document only to discover that it wasn’t the most up-to-date version, you’ll know just how bad email attachments are maintaining version control. Attachments are sent, copies of copies are created, comments added, and sent back – leaving your team to make sense of dozens of discreetly different document versions.  And for something as important as your annual report, there’s no margin for error.

Fortunately, there’s a better way. What if we told you that you could improve productivity by 30%, reduce the risk of errors, and streamline the whole process?

Huddle is the market’s leading cloud-collaboration solution, helping teams to easily collaborate on documents with colleagues, and even partners outside of the firewall. Huddle manages your files, tasks and team communication in one place. It becomes your hub of activity, meaning you spend less time organizing documents and tasks, chasing approvals, and searching through email - and more time delivering exceptional results.

Huddle’s also far more secure than using email, or the consumer-grade file sharing apps that you might be using. Trusted by governments and proven in enterprise, Huddle protects your content from prying eyes, mitigates the risk of sending information to the wrong person, and even maintains a time-stamped audit trail of activity -  so you can always check who’s accessing your documents and what changes have been made.

Think about how that benefits the production of your annual report. Collecting key performance indicators from the executive team, approving the chairman’s statement, gathering your financial statements and auditor’s report…all become infinitely easier using a tool like Huddle.

Learn more about Huddle can improve collaboration across your executive team (and beyond), or sign-up for a free trial.

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