I work in finance. Joe's calls up and says he wants a report on his portfolio. So I fill out the template. Joe's name, address and account details will be the same for every one of his reports. I'll then enter some details on the portfolio's balance and reasons why it's over or under performed. (This is a simplified version of what I do, the reports are 40-50 pages long and have about 30 places I want to automatically insert information.)

The template gets updated every 1-2 weeks. There are currently about 100 clients but I expect this to growth to about 300 by the end of the year. Some will ask for reports once a week, some will only ask once a year.

If I run a mail merge, will it produce 100 seperate documents, one for each client? That would probably work, as I could mail merge everytime I update the template and then have a seperate personalised template for each client.