Annual reports not only present your company’s financial performance, but also serve as a marketing tool, highlighting your achievements, media mentions, breakthroughs and other feel-good information to stakeholders, investors and the general public.
A standard annual report comprises the chairman’s message, financial statements, balance sheet, income and cash flow statements, as well as company news and milestones. Some yearly editions may adopt a different narrative – such as an innovative product the company recently launched or how the organisation is adapting to the rapid technological advancements in its industry. The potential for brand marketing and public awareness is heightened in this case.
As the message conveyed through your annual report is important, you want to ensure that it’s effortlessly understood by its intended audience. An effective tactic to achieve this goal would be to create multilingual annual reports.
3 Reasons Why You Should Adopt A Multilingual Approach To End-Of-Year Financial Reporting
Ensure uniformity in communications across your global locations
If you have operations in the East and the West, it’s a best practice to publish annual reports in the native languages of the particular countries. A protocol followed by many multinational corporations, it’s deemed respectful to senior shareholders and investors who may not be fluent in the original language of the publication. A professional translation service with multilingual typesetting can translate your initial report to the target languages.
Enhance localisation and create greater cohesion between stakeholders from different countries
By adapting content for local or regional consumption, you can improve localisation and give marketing efforts a boost. Multilingual reports enable stakeholders from different regions to be on the same page about your company, hence removing any confusion or ambiguity about your performance or vision for the future. This helps improve shareholder satisfaction and confidence as well as convenience when shareholders don’t have to rely on others to translate the essential contents of the report in verbal or written form.
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Build confidence and trust in employees across global offices
Employees appreciate the opportunity to understand their organisation’s financial achievements, awards, and research advances. Many annual reports also highlight key employee contributions, which go a long way in driving workforce morale and motivation. By distributing your annual report in a language familiar to employees working out of different countries, you can gain their appreciation and instil a sense of pride and purpose.
Annual reports use specific terminology and must ideally adhere to international standards in financial reporting. A professional translation agency with finance as a subject-matter expertise offers the assurance of correct and consistent terminology to communicate your message and information exactly how you intended.
