Royal Philips is a Fortune Global 500 enterprise and a leader in electronics, healthcare, and lighting. Based in the Netherlands, the company employs roughly 114,000 employees in over 100 countries. Since its beginning in 1981, Philips has prided itself on driving innovative solutions and consumer-friendly products.
Philips produces an annual report every year aimed at investors. As a Dutch company listed in the US, Philips also needs to file Form 20-F to the United States’ SEC—an analog to the Form 10-K required of American businesses.
But writing, managing, and publishing that report is no easy task for diversified company with over 40 businesses. From layout, to financial figures, to copywriting, the reports involved disparate teams, endless back-and-forth, and plenty of time and money.
In 2005, Philips was printing and distributing tens of thousands of copies of its annual report—a costly expense. It wanted an online version that could be shared with investors more efficiently.
In 2006, Philips found Tangelo. The company recently published its 10th annual report on the Tangelo platform. In 2015, Philips only printed a few hundred reports—its online annual report has become the primary version, reducing costs considerably.
Creating the reports is faster and easier. Now Philips can create both the annual report and Form 20-F from a single source. Over 50 people collaborate together to write, manage, and publish these critical documents. In 2013, investor relations analyst IR Global Rankings named Philips as the #2 Best Online Annual Report. Great results, easier processes, and more productive teams make this a triple win for Philips.
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