Ernst & Young, a valued Trintech partner, offers insightful tips for companies who are considering an IPO in Forbes. Jackie Kelley, an advisory Partner of Ernst & Young LLP and the leader of the Americas IPO Network says:
“Life as a public corporation is far different from that of a private company. A successful IPO opens the door to some exciting business opportunities. However, once your company is public, financial reporting takes on a heightened level of importance and you will face a new level of scrutiny. So if an IPO is your goal, it’s critical to build an infrastructure that is ready for the rigors of the public markets.”
Without this “infrastructure” in place, CFOs must rely on disparate systems that do not “talk” to each other, error-prone spreadsheets and an over-all lack of visibility into the entire process. So how can you trust that your data is accurate when you do not have full confidence in your own processes? When you submit your results, the lack of visibility can cause some sleepless nights for any finance executive with so much on the line.
The solution is to automate all these processes from the financial close period to financial reporting. But the system you choose needs to be a single solution where all of the processes are entirely integrated, in order to have COMPLETE visibility and confidence in every number on the balance sheet. With this system in place, you will have built the proper infrastructure needed to embark upon your IPO initiative.
Check out the entire article here.
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