SIX KEYS TO PREPARING SYSTEMS FOR SUCCESSFUL INITIAL PUBLIC OFFERINGS
C-Level Executives From NetSuite Customers Cornerstone OnDemand and LogMeIn to Share Experience and Insights During Webinar on Preparing for an IPO
SAN MATEO, Calif.—August 13, 2012—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced a webinar designed to help software and other high-technology companies strengthen their ability to manage a successful IPO across key areas such as financial controls, systems, process and reporting. Attendees will hear from three software industry executives who will share their insights, tips and experiences in taking fast-growing Internet and technology firms public. Planning, executing and managing the initial public offering (IPO) is a challenging task for the CEO and CFO. Guest speakers Perry Wallack, CFO of Cornerstone OnDemand (www.cornerstoneondemand.com) and Jim Kelliher, CFO of LogMeIn (www.logmein.com) will explain how they helped ensure that the IPO process for their companies were successful. They will be joined by NetSuite COO Jim McGeever, who was NetSuite's CFO during the company's successful auction-based initial public offering.
The webinar, "Six Keys to Preparing for a Successful IPO," will be held on Wednesday, August 22 at 10:00 a.m. PDT (1:00 p.m. EDT). Register for the event at www.netsuite.com/sixkeys-ipo.
The speakers will also address the advantages they realised in using NetSuite's single, integrated cloud solution for financial management, reporting and compliance, and how they gained flexibility to drive continued growth as a public company. NetSuite delivers capabilities critical for software and technology companies to function as public entities, including advanced revenue recognition, recurring contract and subscriptions management, and built-in support for regulations such as Sarbanes-Oxley and Financial Accounting Standards Board (FASB) EITF 08-01 and EITF 09-03, governing multi-element sales. The NetSuite OneWorld international edition enables financial consolidation and reporting on a global scale across multiple subsidiaries, with support for 17 languages, more than 190 currencies and local country taxation compliance.
"Regulators and investors demand that businesses be coordinated, transparent, and consistent when preparing for an IPO," said Jim McGeever, NetSuite COO. "It's critical for companies to understand how a strong financial management foundation not only helps support a successful IPO, but can help promote continued growth and institutional resiliency in the future, and how technology can support the needs of high growth companies preparing for and going through this milestone event."
Webinar attendees will learn how cloud ERP solutions have helped numerous high-tech companies lay the proper foundation for the rigors of the IPO process. In addition to sharing valuable lessons learned from taking multiple companies public, the executive panel will also discuss, in depth, these six keys that promote successful IPOs and help smooth operations as a public company:
- Improving Financial Systems, Processes and Controls
- Preparing for Rigorous Financial Reporting
- Upgrading the Finance Organisation
- Establishing Good Corporate Governance
- Establishing Investor Relations and Communications
- Developing Risk Management Capabilities
Fast-growth private software companies with aspirations to succeed as a public company realise that point solutions and manual processes will not meet the rigors that an IPO entails. Traditional on-premise solutions are cost-prohibitive and don't provide the scalability and flexibility these organisation require as they continue to grow both in size and in the complexity of their business. NetSuite's cloud-based business management suite delivers an integrated, focused set of functionality that enables software companies to focus on innovation and growth while enjoying accurate financial reporting, streamlined billing and renewal processes, and regulatory compliance. NetSuite's cloud-based ERP is the solution of choice for more than 800 innovative software companies, including hot IPO companies such as Cornerstone OnDemand (NASDAQ:CSOD), LogMeIn (NASDAQ: LOGM) and Jive Software (NASDAQ: JIVE).
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