Advantages of Corporate Transcriptions: Why Transcribe Earnings Calls?
An earnings call, derived from a shortcut of the term “earnings per share” (EPS), is basically a conference call wherein the top management discusses the financial performance or results of a reporting period, as publicly traded companies are mandated by federal security laws to be transparent with information mentioned in 10Q (quarterly report) and 10K (annual report) forms along with qualitative discussions. Thus, several companies promote data transparency and provide recordings or transcripts of earnings calls on their corporate websites. to keep all investors in the loop with the happenings and decisions being made within the company.
Getting accurate information from earnings calls is crucial in various business aspects, which is why extracting details using conference call transcriptions is very important. Here are some advantages of transcribing earnings calls:
Accessibility and dissemination
The first and most obvious advantage is having information accessible and easily disseminated. Whether it be through email or websites, investors and the like who were unable to attend the call can easily catch up with all the information. Corporate transcriptions help companies deliver accurate messages and information to investors for a thorough review. Providing documentation allows stakeholders to easily highlight key information most beneficial to their interests.
For review and reference
You can ensure that you’ve presented the correct information during earnings calls, yes. However, you can never guarantee that conference call participants will catch every detail exactly as intended. To avoid any confusion or miscommunication, make it a habit to transcribe your earnings calls. You can provide earnings call transcripts so that people after the call can review the meeting information. With this, they will be able to determine if they need to make corrections or arguments regarding the earnings report.
Stock trends and opportunities for the public
Nowadays, media, bloggers, financial analysts, and planners, and prospective investors can also be considered as financial stakeholders. The rise of blog posts, forecasts, and reviews had made the internet as the people’s go-to source of information. Since the public doesn’t have the luxury of joining earnings calls first-hand, transcripts will be able to satisfy their need for information about stock trends and opportunities. This also means that they have a way to know the success or failure of their investments. Not to mention that these documents can help them make informed decisions for future investments of their own. Simply out, with earnings call transcripts, you are making your earnings calls accessible enough for the general public.
For archiving or documentation
Corporate transcriptions are very useful for generating various accessible formats to be archived for easy referencing and analysis. Transcripts of past earnings calls are retained on websites to avoid confusion among the public. Companies usually choose to publish earnings call transcripts instead of audio recordings because of the file size. Transcripts tend to be smaller in file size, compared to an audio or video recording.
It contributes to SEO
Another advantage of transcribing earnings calls is that it contributes to the SEO of your website. SEO refers to search engine optimization, which is what's responsible for your ranking in search results. Earnings calls transcripts are another form of content you can publish on your website. The more content you have, the more keywords that can be indexed for the benefit of your SEO. And the better and more optimized your SEO is, the more likely you'll achieve top page results for your website.
Should you need more help navigating earnings calls, feel free to read more on our Ultimate Guide to Earnings Calls.
Choosing the right transcribing service is critical to the quality, timeliness, and security of sensitive information. Additionally, knowing the best practices for recording conference calls will make it easier to transcribe it. Find a general transcription service, like TranscriptionWing, that’s experienced in producing corporate transcriptions, highly familiar with business and financial terminologies, customizes transcript formats, and who goes the extra mile to protect client confidentiality.