One of the first things I learned in my professional career is that while you can get away with missing many deadlines, annual reports must come out on time. In fact, I almost got fired early in my career because I missed the deadline to file the annual report.
I had been working in the management team of a micro-finance start-up for the last 5 years. That year, preparing the annual report was my responsibility, and frankly, I forgot.
Now you might think why is it such a big deal? Well, if you don’t file the annual report within the designated date, you have to pay the late fine. And if you don’t file it at all, then the state will no longer consider your company a legal entity. It will lead to the administrative dissolution of your company.
When I realized my mistake I was therefore in a panic. Fortunately, I had already made a plan for the annual report before it slipped my mind. I called content and design agencies and printing vendors. I started collecting financial and CSR reports. I also sent memos to departmental heads for their write-ups. I personally compiled a list of accomplishments that our company achieved.
For a company like ours, an annual report is more than a legal requirement. It’s an opportunity to make a bold statement about your brand and what you do. It is used to engage with different audiences, including stakeholders, bankers, and employees. An annual report is not just dry facts and figures but a chance to welcome a variety of readers into your organization for a tour.
Given the rush, I decided to play safe and go with a design agency that had extensive experience in annual reports. What pushed their case was that they were part of an organization known for their premium printing. I briefed them about requirements and focus for the year. On my part, I provided the write-ups, management profiles, and photographs that would help them develop the thematic section.
I was pleasantly surprised by their professional approach, which is often sadly missing in this city. They kept me updated about every development, discussed their ideas and plans so that I could approve them and tell them if they were taking the right direction. Within 3 days they sent me the soft copy of the first part of the annual report. Alongside this, they started in the financial section which can always be tricky.
It all came together with surprising speed. The directors approved it in one shot and we got down to the business of getting ready to print. As the annual report would also double as a corporate brochure we opted for premium printing. That was when I learned how by spending a little more on paper and finishing one could make a huge difference in impact.
I had given the printers only 5 days to print and finish, explaining that my job was it stake. They actually delivered it within 4 and a half days. Sure, we had to pay a fine for filing the annual report late, but as the final product was pretty impressive, all was forgiven.
If you would like to know about the design house and printer that bailed me out during the crisis you can connect with them here. andersonindia.com. Some day you might need them too.