Being a Public Finance Department Isn’t Easy—Are You Ready?
Yet once your IPO is in play, what’s going on behind the scenes — and on your financial statements —may suddenly take center stage and be subject to rigorous scrutiny. Shareholders, the board, lenders, and even the media may want to know before they commit that your financial performance and foundation is on solid ground.
The problem? Because you’ve had to allocate so many resources to innovation, development, and go-to-market, your day-to-day back office processes (including finance and accounting) have had to make do with fewer. Even if you’ve adequately maintained every accounting transaction, everything you’re doing may not be enough once you go public. Functioning as a public company means handling new requirements, not to mention facing increased scrutiny from multiple entities, and doing all this faster and with little room or tolerance for errors. The benefits to going public can be exponential—but without a finance and accounting function that is in order, transparent, and ready to scale, the risk exposure also grows exponentially.