Friday Mar 20, 2015

Is Your IT IPO Ready?

Oracle just published Preparing to Go Public: IPO Readiness Best Practice Guide featuring insight and advice from Oracle customer executives and Steve Hobbs, Managing Director at Protiviti. Protiviti is a global business consulting and internal audit firm composed of experts specializing in risk, advisory, and transaction services. 

This brief focuses on the role IT plays in IPO readiness. As Hobbs states,

"First and foremost, you must have the ability to scale the business, and that means making certain that you have the information systems in place that allow you to scale. Companies also need to consider the process side of the business. Among other things, you need to have mature governance, internal controls, and processes around critical areas such as security and privacy.”

Here are the 4 Best Practices for Modern Finance IPO Readiness discussed in the brief: 

  1. Establish IT Governance and Processes that Enable Growth
  2. Plan for Future Growth
  3. Establish a Systematic and Disciplined Financial Close Process
  4. Replace Spreadsheets with Modern Planning, Budgeting, and Forecasting Applications

For more on this subject, read my interview with Lenley Hensarling, former GVP of Oracle JD Edwards and now an independent operating partner with Peak Equity Partners, entitled Equity funding for your buyout, startup, spinoff?

Jim Lein

Modern Best Practice exploits new capabilities made possible by cloud, mobile, social, analytics, big data, and the internet of things, making it possible for your organization to achieve more, faster and with fewer resources.  It is flexible, supports growth and innovation, and enables new ways to achieve consistently superior performance.

The views expressed here are my own, and not necessarily those of Oracle.

Wednesday Jun 18, 2014

Curse Inc Skips a Level by Jumping to Oracle ERP Cloud

by Jim Lein, Oracle Midsize Programs

As Brandon Byrne, VP of Finance at Curse, says, "What ESPN is to sports, we are to video games. We help gamers get the most out of their game."  I was hooked on video games in my twenties and I wish this resource would have been around to help me reach that next level on Donkey Kong or Defender.

Curse is experiencing enormous challenges brought on by growth, both in terms of increased revenue and in the number of digital media properties they manage.Oracle recently released a couple videos in which Byrne explains why Curse chose Oracle and their goals for moving to Oracle Applications Cloud.  With Oracle, Byrne says that Curse can "take a step out of the accounting software hierarchy" by skipping a second tier solution as they grow.  With Oracle Applications Cloud they get to a top tier solution sooner and that, "takes away a lot of the pain of having to do that second transition."

 A few quotes from Byrne that I really like:

  • "Accounting and finance are the customer service group for the rest of the organization. They are on the front lines driving revenue and growth."
  • "(Oracle ERP Cloud) gets us out of the knuckle head things that happen on a day to day basis with accounting and finance and let's us focus on the big things and strategies and more complex issues."
  •  "Letting Oracle provide the security is a better solution in my mind than having three guys in my IT group securing a server downstairs." 

Here are the videos:

Jim Lein

I evangelize Oracle's enterprise solutions for growing midsize companies. I recently celebrated 15 years with Oracle, having joined JD Edwards in 1999. I'm based in Evergreen, Colorado and love relating stories about creativity and innovation whether they be about software, live music, or the mountains. The views expressed here are my own, and not necessarily those of Oracle.



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