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Financial Management Software for an IPO
For thriving businesses, the initial public offering (IPO) is a major milestone, as your company receives a capital infusion and undergoes a far greater degree of financial scrutiny from auditors, regulators, and investors.
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In most respects, the reporting, process, and control burdens fall on the shoulders of the CFO, controller, and the rest of the finance team. And those responsibilities begin well before the watershed date when shares are traded for the first time. It’s important to remember that the IPO isn’t the finish line.
Getting Ready for the IPO
For most executives, the IPO represents the culmination of a long, successful journey from start-up to market-proven success. But preparing for the IPO is generally one of the most challenging processes a business leader can undertake. The large volume of challenging financial preparations leaves many finance leaders unsure where to start.
The best place to begin is with your financial system. Smart pre-IPO firms start to use modern, IPO-ready financial management software at least 12-36 months before the planned IPO. Entry-level accounting software like Intuit QuickBooks may have been valuable during the early months of a small company—and perhaps could even stretch to handle a few elements of the IPO process. But it’s absolutely infeasible to build a corporate IPO process on QuickBooks.
Similarly, you also don’t want to rely on outdated and inflexible legacy financial systems that lack the features and reporting capabilities you need. You want to avoid employing your finance team just to manage all the reporting and analysis work that your legacy system is incapable of handling. Dynamic, cloud-based financial management software ensures that you, your team, and your system are ready to handle the rigors of the IPO process and keep your staffing level low as you prepare to go public.
An Unwavering Focus on Growth
The IPO may be an exit event for some investors, but for your employees, customers, and new investors, the IPO is merely another milestone in a long journey of building and operating a successful company. By selling a portion of the company in the IPO, you receive millions of dollars in cash that can help fuel future growth. To manage all that new, public money you need a system that supports operational growth and strategic complexity. Fast-growing companies must understand what’s working—and what’s not working—from a business perspective, not just the financial metrics. If something’s not performing, you need the deeper insights to understand why, and you need this insight in real-time so you can make rapid course corrections. When you are moving faster, you need to see further ahead. The right financial management software helps you achieve this visibility before and after your IPO.
Enjoy this intro? Get the full white paper: The IPO and Beyond: The Keys to an Enduring Financial Foundation