2020-2021 was a tough year for many companies as the COVID-19 Pandemic instilled a level of uncertainty in today’s business climate. But even then, we saw a large number of innovators push through and successfully IPO during a pandemic.
As the climate is now stabilizing, many C-Level executives are probably asking themselves, “if these companies were able to IPO during a pandemic, what’s holding us back now?”.
The key to their success comes from preparation and planning. Attracting investors comes down to ensure you have not only a unique business model, but your processes are scalable and in line. Having a solid ERP solution that can encapsulate your entire company’s critical business function is a major part of achieving that.
Below are a few challenges a company needs to overcome which NetSuite can help solve to increase their chances of a successful IPO:
Ensuring Corporate Governance is Good:
Many companies, especially private companies, fail to realize the importance corporate governance plays in long-term success. Although some may think it is an easy task, this is a necessity when looking to establish the legitimacy of the operations. Companies need to be aware of PCI-DSS, ASC 606 and more in order to establish compliance. NetSuite, which is has GRC capabilities built in, ensures that companies can provide accurate reports with a prime auditing system which will give businesses the confidence they need to not only run their business as a start-up, but also as a successful IPO.
Risk Management Capabilities are Sub-Par:
When thinking of going public, think about the amount risk this brings to investors who believe in your vision. As much as investors would love to back any company with a great idea, the risk of doing so sometimes outweighs the rewards. Certainty and security become a priority! NetSuite provides access to automated alerts and real-time KPIs that are required to identify and risks before they become an issue.
The Ability to “Sell” Your Company:
By “Sell” I do not literally mean selling your company off. “Selling” your company means being able to tell a story behind why investors should pay attention to the value you’re bringing to the market but also ensure you can back it up with Data. NetSuite allows you to home in on the financial performance of your company through its robust features. This narrative can be told through the eyes of the solution, because numbers never lie, and… they speak for themselves.
Contact Concentrus today to discuss your ERP needs. We are here at your service!
Concentrus is a complete NetSuite solutions provider that guides organizations through how to use NetSuite to reach highly focused business goals and objectives. We provide NetSuite implementation, developer, integration, and customization services to ensure that you have a long-term solution that is tailored to fit your systems, people, and processes.
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