When you are first set up with your company on Orchestra, you will see a banner at the top of your screen letting you know that you are currently in 'draft mode'.
What is draft mode?
Draft mode allows you to make changes to your company on Orchestra, without having to worry about any external actions occurring such as companies office updates or emails to admins and shareholders going out.
While your company is in draft mode, the following items are disabled:
- The share register does not sync with the New Zealand Companies Office, including any changes that are made in draft mode
- Orchestra system-automated emails are not distributed. These include emails to shareholders in any capacity
- Email notifications for company communications are not distributed
- Shareholdings are not visible to Investors
The only items which are active during draft mode are:
- Shareholdings are visible to Administrators
- Investors will receive password reset emails if requested
For your company to switch into live mode, you will need to request the Orchestra team to set your company live, when you are 100% happy that the setup is exactly how you want it.
What is Live Mode?
Once we switch your company into 'live mode', the platform will then perform certain automated actions when you make certain changes.
1. Companies Office Updates
If your company has been linked to the Companies Office during the onboarding process, your share register will automatically sync to the New Zealand Companies office when:
- New share transactions are created on Orchestra (if applicable)
- When a shareholder's residential address changes on Orchestra (if applicable)
- When your annual return is filed through Orchestra
2. Shareholder Logins
Once your company is live, shareholdings will then be visible in the respective shareholder dashboards, as well as for administrators.
When shareholders login or sign up for the first time, they will be able to view their holdings through the investor view.
3. System Generated Emails
In live mode, when you perform certain actions on Orchestra, system generated emails are automatically sent out to the relevant people. These emails include when:
- New company Administrator added - the new Administrator will be invited to login/signup and manage the company on Orchestra
- Email address updated for an Investor - the Investor will be invited to manage their holdings on Orchestra
- New Investor added (i.e via a share issue/transfer, or an Associate Investor is added) - if the Investor is new to Orchestra they will be sent an email inviting them to join Orchestra
- Company communication to Administrators only - Administrators are invited to login to view the communication
- Company communication to Investors & Administrators - both Investors and Administrators are invited to login to view the communication
- New Associate Investor Added - the new Associate Investor is invited to login and view their shareholding
- New share transaction (issue / transfer / cancel) - an email confirmation is sent to the parties to the transaction
- Option holder invite button - the option holder will be sent an email inviting them to join Orchestra
- Option vesting event - the option holder is sent an email notifying them of the vesting event
- Option exercise event - the option holder is sent an email notifying them of the exercise event
- ESOP grant wizard 'Generate and send' - the ESOP Plan Rules document is sent to the option holder
- ESOP grant wizard 'Send document' - the ESOP offer letter is sent to the option holder for electronic signing
- Request to add a new user to a shareholder - the primary email address on the shareholder is sent an email to authorise the addition of a new user with full access to the shareholding vehicle and all of its holdings
- Document signing 'Send document' - the document is sent to the individual for signing