Annual Reports have come a long way since the first ever modern example of the document at the turn of the 20th century (US Steel, 1903) to the second decade of the 21st century.
PURPOSE
Once upon a time, they used to be a ‘grey literature’ communicating reams of dry numbers to shareholders about the audited financial performance of a business during the last fiscal year.
At present, they are a ‘corporate report’ painting a favorable picture of your business in the minds of investors, analysts, exchanges, governments and the general public through captivating content about awards & certifications, quality assurance, statutory compliance, social responsibility and much more.
From a content innovation in 1993 to almost becoming an unspoken rule, it is expected that current Annual Reports will feature 16-20 pages of ‘Romance Section’ ahead of the financial section.
FORMAT
Once upon a time, Annual Reports used to be hand typed on a typewriter with a plastic cover slapped on and had spiral binding. Additional copies were circulated amongst shareholders through photocopy. Then in the 1970s came along dot matrix printers to mix black text with black and white images.
As colour printing became affordable, offset printing enabled bulk printing and desktop publishing softwares became widespread in the 1990s, printing technology also evolved to facilitate premium embellishments, expensive textured paper stocks, innovative fabrication and superior binding styles by the early 2000s.
DIGITIZATION
By the early 2010s, companies were riding on the digital marketing coattails and switching to digital-only Annual Reports, downloadable from respective company websites. However, the companies soon realized, their target audiences were having to wade through a sea of clutter to get to the bit of information they were looking for.
It was at this juncture in the mid 2010s that printed Annual Reports started gaining popularity once again. Furthermore, data once committed to print constitutes physical evidence and lends an air of credibility to the audited financial records contained in an Annual Report.
INTERACTIVITY
Now in the late 2010s, 4G internet speeds (and soon 5G) are finally facilitating widespread adoption of emerging technologies like Augmented Reality (AR) to transform the humble Annual Report into an interactive corporate credibility vehicle. Contemporary Annual Reports feature carefully curated factoids and MD’s / Chairman’s takes on the subject to present the company in the best possible light.
Using interactive technologies like AR, the inert pages of an Annual Report (printed or digital) can be transformed into a viewing screen. The chairperson of a company can talk to their shareholders directly from the pages of an Annual Report. Corporate documentaries and TV commercials can launch from the images when scanned by a smartphone. Financial facts and figures can now be presented as animated info graphics. Shareholders can even access calling, emailing, enquiry, feedback, geolocation, website and social media pages straight from an AR-enabled Annual Report.
LOOKING AHEAD
Within the next few years, AR glasses will become widely available and be able to launch interactive contextual content just by glancing at an Annual Report. As holography technology becomes more user friendly, perhaps AR glasses will project floating graphics in 3D space instead of on smartphone screens.
We live in exciting technological times and a meticulously crafted premium or augmented Annual Report gives your business the power to influence perceptions and mold opinions in your favor. Seize the opportunity before your competitors do to stay ahead of the curve.