Preparing for an IPO can be a long and arduous process, like turning a luxury cruise ship in a shallow lake, but assembling the right team can help streamline and simplify things. Teams generally feature a mixture of management and subordinate roles, and ideally, some have experience at public or fast-growing companies. This might require upgrades at certain positions to ensure that your company is adequately prepared to handle the performance requirements and scrutiny experienced by public companies. Teams can include an SEC reporting manager, director of investor relations, heads of financial reporting, controller, treasurer, auditor, etc.
Best practices also suggest carefully evaluating your company’s board as many new software and technology companies have investors with little IPO experience. Executing a transition that includes a healthy mix of independent board members could help comply with SEC and stock exchange guidelines, and fresh perspectives can help make the company better. People with IPO experience will have wisdom and insight that can help guide the company.
How can NetSuite help support us as we assemble the right team?
NetSuite provides nearly 100 pre-built reports and pre-configured roles with dashboards and business intelligence metrics. Each member of the internal IPO team can have a customized role, and view of key performance indicators (KPIs) via real-time dashboards. They can also generate reports with metrics specific to their tasks and responsibilities associated with the IPO process. NetSuite unifies all core business processes, including ERP/financials, HR, CRM, inventory management, and much more, so everything can be accessed via one secure interface. Management and key personnel can drill into specific areas within NetSuite and quickly determine whether there are opportunities or deficiencies.
Board members will also benefit from the KPIs and dashboards from NetSuite as these can be customized to meet their needs. They can receive view-only access to examine performance metrics in real-time throughout the IPO process, empowering them to provide timely guidance that is backed by data.