Article | November 14, 2024

From Startup To Public Company: How To Scale Finance Operations In Life Sciences

Source: Sikich

By Jim Ingram

ERP

Life sciences companies face major challenges in scaling financial operations when transitioning from startup to IPO. Initially, basic financial tools like QuickBooks may suffice, but as companies grow, they require a more robust system. An ERP (Enterprise Resource Planning) system becomes essential for managing complex financial reporting, regulatory compliance, and multi-entity tracking, all critical for IPO preparation. As companies gear up for IPOs, investors demand rigorous financial reporting and compliance, including SOX regulations and 404 audits. ERP systems, such as NetSuite, integrate financial processes, automate tasks, and improve accuracy—key for building investor confidence and proving scalability. By adopting ERP early, life sciences firms streamline their path from private to public, ensuring financial stability and readiness for public market demands. Investing in scalable ERP solutions enables life sciences companies to focus on growth and long-term success.

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