How to Plan and Budget for an IPO (Going Public)

GURUS Cloud Connect


For companies that are planning on going public, showing their investors that they have clear and correct data is an important factor in whether they succeed or fail with going public.

Obstacles such as spreadsheet errors can quickly become a detriment in their bid to launch a successful IPO. How do you avoid spreadsheet errors during this crucial period?

Geri-Lynn Kushneryk, CFO of GURUS Solutions, talks about how systems can avoid these errors by moving to new systems, like Oracle NetSuite Planning and Budgeting, that will allow them to quickly and easily get accurate data and efficiently manage their budgeting tasks.

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Video Transcript

Athen: So, we're talking a lot about older systems like spreadsheets and how much risk there is in using them and how they can easily break, or how your data can get mixed up. There are a lot of companies that are either preparing to launch an IPO or might already be public and you have to report to their investors every quarter.

I can't imagine them using a system with such a high risk for their planning and budgeting. So, what point does it become not just a what-if scenario but an “oh we have to upgrade to better technology?” At what point does it become totally necessary to upgrade to a system like NetSuite Planning and Budgeting.

Suite Life TV Planning and Budgeting

Geri-Lynn Kushneryk: Once a budget is reported to external stakeholders, you're pretty much locked into explaining if there's anything that's hugely or wildly different than what you've presented.

I agree with you; I think if it's a company that's either publicly traded or about to become publicly traded, the consequences of finding errors - you don't want that margin of error and you just cannot afford.

I would suggest that even with privately held companies that have institutional investors, your credibility is at stake. We've got a lot in the marketplace of highly funded companies that are required to report to multiple investors. Your credibility is on the line as a management team. You do not want to have that called into question as a result of a spreadsheet error.

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