They help cut costs and reduce carbon footprint
Smita Krishnaswamy, Straits Times 8 Oct 09;
A HANDFUL of government statutory boards and companies are in the vanguard of moves to revamp their annual reports in order to reduce their carbon footprints and cut costs.
One government agency that has taken a novel approach to reduce costs is the Singapore Land Authority (SLA), which had its employees design its annual report in-house on a volunteer basis.
The result? The SLA managed to achieve more than 80 per cent savings, bringing down the cost of each report from $42 a copy to a mere $7.50.
Its savings amounted to almost $35,000.
Costs aside, increasing concern about the environmental impact of large-scale print runs and the subsequent distribution of reports is also prompting companies to look at unconventional platforms.
International Enterprise (IE) Singapore published its annual report entirely online last month in two versions: One a PDF version for easy printing, and the other an interactive format on its website.
As a result, the agency sliced 30 per cent off its production costs.
Ms Caroline Wong, deputy director of corporate communications at IE Singapore, said: 'It is really about going green, which is very important to us. We don't see any downside to the change - it is all positive.'
Citing environmental considerations, the Singapore Exchange is distributing its annual report via CD-ROMs this year.
It estimates that with about 30,000 shareholders on its mailing list, the initiative will save seven million sheets of paper, or 840 trees.
The company conducted a survey of shareholders last year and discovered that more than 80 per cent of respondents were in favour of receiving their report online or in CD-ROM format.
Singapore Airlines is also sending out its annual report to shareholders via CD-ROMs this year.
A spokesman said the change is in line with the airline's commitment to environmental causes and to use technology to improve access to information, but the move has also helped the company keep costs down.
People are even exploring options such as thumb drives, said Ms Elena Ling, director of Raindance, a publication design company that derives 90 per cent of its business serving print-based clients.
But despite the growing number of organisations moving over to digital and online publication, the majority seem to prefer printed reports. Last year, only one Raindance client was looking at publication online.
Ms Ling doubts that her clients will go completely online any time soon, citing the convenience factor of hard-copy reports and their appeal to older readers. Instead, companies may prefer combining print reports with other media, she said.
For Mr Timothy Yew of Big Advertising, a digital marketing agency with 80 per cent of its business in designing online solutions, the steady trickle of organisations moving away from print is welcome.
Companies in technology-intensive fields risk being considered traditional unless they publish an electronic version of their annual reports, Mr Yew said.
Going online also allows companies to build brand equity and gain international audiences, he said.
But the savings from going online may not be as large as imagined, especially if organisations outsource the design work.
Big Advertising, for example, charges between $50,000 and $120,000 to design an interactive annual report.
