Tech Challenges In The Phases Of Life Sciences Organizations: The IPO Phase

After the startup phase, the life sciences organization can transition towards the life sciences IPO phase. In an ideal world, the company is already using an established ERP like NetSuite. But if not, it’s not the end of the world. At this point, the organization is most likely beginning to start the process toward implementing an established ERP. In addition, you may not have a solid time frame as to when the business is going to go public. As such, you might be considering raising additional funding, but ultimately, the finance team is going to drive a culture shift to act or operate like a public company even before the IPO actually takes place.

One important note for companies going through an IPO: it’s important to have a grade period to give the organization the ability to ramp up its systems to support the new requirements to come with being public. So, if you don’t have your ERP system yet, you’re still okay, because now you have that grace period.