Difficult to choose a CMS as a listed company? We'll guide you to the right one.

CMS stands for Content Management System, a concept many people have encountered. But what does it really mean – and how do you choose the right CMS? The system that best suits your company depends on what features you're looking for, and there are many options to choose from. In this article, we examine different types of CMS and their advantages and disadvantages, with particular focus on WordPress and Umbraco. We conclude with important aspects to consider for listed companies selecting a CMS for their IR website.

When it comes to managing and updating web content for a listed company, the choice of CMS is critical for both efficiency and security. A company website is not just a marketing channel – it's also a platform for transparency, information management and communication with shareholders, investors and other stakeholders. Therefore, the CMS must be flexible, scalable and secure enough to meet the strict requirements placed on listed companies.

To begin the process, you need to compile information about your project's needs. This includes both technical and content-related aspects such as layout functionality, image management, typography and formatting. By mapping these needs, it becomes easier to identify which CMS might be suitable.

Another important aspect is the expected size of the project. To avoid unnecessary costs, you need to consider:

• Expected amount of traffic

• Number of websites or domains to be included

• Number of languages required

• Number of integrations with other systems

• Number of editors and others who will be working with the website

• Approximate amount of information and number of pages

By answering these questions, it becomes easier to filter out unsuitable CMS options and leave you with fewer, better alternatives to choose between.

Different CMS Solutions

In our latest review, we have carefully examined the most popular CMS solutions in the market, weighing the pros and cons of each. In addition to a broad overview, we have also done a deep dive into two of the most common systems for listed companies: WordPress and Umbraco. These two platforms have proven to be particularly strong options for listed companies needing a stable and scalable solution. At AVA, we have extensive experience working with both WordPress and Umbraco and have helped several listed companies develop modern and user-friendly IR websites.

WordPress

WordPress is one of the most widely used CMS tools in the market. It started as a blogging tool but has evolved into a comprehensive content management system. It's free to use, based on open source code and includes a wide range of free plugins. With thousands of themes and plugins, content can be customised to suit your needs, but the large number of third-party extensions can create security risks if not updated regularly.

While the system is relatively easy to use for basic functions, skilled developers are required to build a well-functioning and customised WordPress solution. Daily content updates can be more complicated compared to other CMS platforms like Umbraco, but user and permission management is straightforward. For larger and complex projects, it can be time-consuming as the system often relies on pre-made templates and themes.

Advantages:

• Easy and quick to get started

• Cost-effective for smaller web projects

• Ready-made templates and themes

• User-friendly

• Mobile-optimised

Disadvantages:

• Difficult to customise

• Higher costs for creating custom themes

• Requires significant maintenance

• Lower security

Umbraco

Umbraco is a CMS built on open-source code and based on Microsoft's .NET environment, established since 2003. It is a well-established and stable CMS used by both small and large companies. Unlike WordPress, the features are maintained by Umbraco themselves, whereas WordPress relies on third-party plugins. That said, plugins are also available for Umbraco, creating many options for customisation.

Another major difference from WordPress is how content is published. WordPress uses blog posts and pages, while Umbraco offers greater flexibility in creating new content. This can include press releases, news, services, employee information and more. Umbraco is often called "The Friendly CMS" because it enables the creation of highly user-friendly and efficient interfaces for editors. While this requires more initial development as solutions are often customised, it saves significant time in the long run.

Umbraco has no licence cost, which like WordPress makes it a cost-effective option. Creating a website in Umbraco is straightforward, and you can create a website with sub-pages immediately after logging in. As with WordPress, you can edit text, add pages, images, and rearrange material without any programming knowledge. Since Umbraco is based on Microsoft's .NET environment, many of the functions resemble Windows. For simpler projects, WordPress or other alternatives might be preferable.

Advantages:

• Cost-effective for larger web projects

• User-friendly

• Easier to customise

• Secure and reliable

• Automatic updates

Disadvantages:

• Longer development process

• More complex

• Less access to plugins

Joomla

Joomla is a CMS known for its flexibility and user-friendliness. It is particularly popular among those needing a website with complex structure and content. Joomla also offers a wide range of add-ons and themes.

Drupal

Drupal is another CMS that stands out for its powerful and flexible architecture, making it ideal for more demanding and large-scale projects. Drupal is known for its high security level and adaptability but can be somewhat more difficult for beginners to use.

Optimizely (Episerver)

Optimizely is a robust platform for organisations wanting to manage content and e-commerce in an integrated environment and who value personalisation and optimisation. However, for an IR website, the platform is often far too comprehensive, resulting in unnecessarily high development and licence costs. The system requires specialist expertise to utilise its full potential, which can be challenging as it requires experienced developers. The advanced features and complex interface can sometimes make the user experience less intuitive for editors, affecting daily operations. The platform is better suited for companies needing a comprehensive solution where personalisation, A/B testing and optimisation are central.

Wix och Squarespace

Both Wix and Squarespace are website builders primarily targeting small businesses, individual entrepreneurs and users without extensive technical experience. These platforms offer simplified solutions for quickly building a website but lack the flexibility and scalability that listed companies need. A fixed library of templates and design options limits the ability to create a unique and customised website. As Wix and Squarespace manage all technical aspects such as servers, security and updates, users have limited ability to customise security settings, which can be problematic for listed companies that must comply with strict regulations regarding data security and GDPR. The platforms offer only basic SEO tools and don't have the same flexibility as WordPress or Umbraco, which can limit the possibilities for optimising website visibility.

Considerations for listed companies

For listed companies on the Swedish market, there are special requirements for information management and publication. A CMS therefore needs to have functions that ensure compliance with both Nasdaq's regulations and other regulatory requirements.

When it comes to regulatory compliance, it is important that the system has built-in functions for quickly and securely handling and publishing inside information to comply with the Market Abuse Regulation (MAR). Incorrect handling of share price sensitive information can have serious consequences - several listed companies have had to pay millions of kronor in fines after accidentally publishing financial reports on their website before the official distribution via press release. The system needs to support structured reporting and archiving according to the Transparency Directive and GDPR, with clear review and approval processes.
Security and documentation are central aspects. A well-functioning CMS should offer robust authorization systems with different access levels as well as detailed logging and version control of changes and publications, where traceability is important for all content published on the website.

For IR departments, it is essential that the system offers functions adapted for smooth financial reporting. This includes an integrated calendar for reports and corporate events as well as the possibility for automated distribution via press release distributors. The system should also be able to handle parallel language versions with synchronized publishing in both Swedish and English, as most listed companies have a large proportion of international investors.

Integration and scalability are also important aspects. Listed companies need to integrate their CMS with various IR tools, reporting systems and press release services such as Modular Finance News (MFN) or Cision to ensure that share price sensitive information reaches the market simultaneously through all channels, which is a requirement according to MAR. The system must also be able to handle the increased traffic that can occur during important corporate events, such as quarterly reports or major transactions.

By choosing a CMS that is adapted to these specific requirements, Swedish listed companies can create an efficient and secure platform for their external communication, with the flexibility to adapt when regulations are continuously evolving.

Are you considering building a new IR website? Feel free to contact us to discuss your needs.