Many organisations tackle their integrated report like a restaurant menu. They decide what they want to include and what they think the most important check boxes are, usually leaning towards what Management or the Board mentioned was excluded from the previous one.
Integrated reporting is your story. It captures challenges, decisions, and changes, providing stakeholders with a snapshot of the road travelled, the milestones achieved, and the path ahead. Although King IVTM doesn’t explicitly describe integrated reporting as a journey, the process it outlines resembles one.
It’s an ongoing cycle of reflection, measurement, and communication and doesn’t only start when your financial year ends. This ongoing approach starts with defining your purpose and strategy – your “why” as a business. From there, it’s about showing how every decision, action, and milestone aligns with your story and impacts the world around you.
Leadership plays a critical role in making integrated reporting meaningful and cannot be delegated to only Lebo in accounts or Marco in marketing. It requires buy-in from the top, with leaders embedding integrated thinking into the organisation’s culture.
The Board and Senior Management must champion the process, ensuring the report isn’t just a glossy document but a genuine reflection of the organisation’s purpose and impact. The foundation of integration is built on emphasising the governing body’s accountability in overseeing this process, reinforcing that integrated reporting is a strategic tool.
So, how do you embrace the ongoing process of integrated reporting? Here are some practical tips to tell your story effectively:
Set Clear Goals: Know what you want your integrated report to achieve. Make sure it aligns with your purpose and strategy.
Engage Stakeholders: Talk to your stakeholders. What do they care about? What information do they need?
Invest in Systems: Good data is key. Set up processes to collect and analyse both financial and non-financial data.
Break Down Silos: Integrated reporting requires collaboration across departments. Everyone needs to be on the same page.
Keep Improving: Each reporting cycle is a chance to learn and do better. Treat it as a continuous improvement process.
So next time you start the process, don’t start with a menu, or a list of what the experts say it must contain. Tell your story or get someone who can help you tell it effectively. By embracing this approach, you can build trust, drive better decisions, and create lasting value for all your stakeholders.
Blue Apple’s Tanya Logan has been helping organisations develop purpose for many years and is ISO 37000 certified to demonstrate good governance while telling your story. Chat to us here if you’d like us to help you write, design, publish or workshop your next report.