By "Jim Lein, Oracle Midsize-Oracle" on Mar 20, 2015
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:
- Establish IT Governance and Processes that Enable Growth
- Plan for Future Growth
- Establish a Systematic and Disciplined Financial Close
- 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?
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.