Integrated Reporting (<IR>) can help to breakdown silos between teams within business, according to a report from communications agency Black Sun and the International Integrated Reporting Council (IIRC).
The report, Understanding Transformation: Building the Business Case for Integrated Reporting, found 93% of businesses participating in the IIRC pilot programme, which was launched to help in the development of the world’s first <IR> framework, believe <IR> helps to break silos between teams and encourages connectivity between different departments.
The research also showed 95% of participants felt employees would benefit from a move towards <IR>, while 98% agreed the shift towards <IR> leads to a better understanding of how the organisation will create value over time, and 93% felt that it leads to better quality data collection.
Black Sun director of research and strategy Sallie Pilot said the agency conducted the research to "track the positive changes and trends which the pilot programme participants were experiencing since partaking in the initiative".
"I find the initial research findings promising as they evidence and bring to life both the internal and external benefits of <IR>. As the title suggests, I anticipate the findings will help support the business case for not just <IR> but also good reporting right across the globe and encourage other organisations to get involved in the programme," Pilot noted.
There are now more than 80 private and public organisations participating in the IIRC’s pilot programme. Of those 44 individuals from 43 companies participated in Black Sun’s research and were all at different stages of the move towards <IR>; 21 were from listed companies, 11 private companies, six from the public sector and seven from other environments including a development bank and a member-owned credit union.
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