Taking a company public is always a challenge, but when that company operates across borders, the complexity skyrockets. An international call center based in the Philippines was preparing for its NASDAQ listing, and CSuite’s expertise proved critical in overcoming the obstacles. With the guidance of Doug Mitchell, a seasoned partner with public accounting and industry experience, the company successfully navigated the road to a $65 million IPO.
Challenges
The company faced several significant hurdles in its journey to the IPO, including:
- Integrating key managers from two different countries post-merger
- Adopting US GAAP for a Philippine-based parent company
- Poorly managed and unintegrated business information systems
- Company financials were all in Philippine currency, complicating reporting
Solutions
CSuite implemented targeted strategies to overcome these challenges, such as:
- Facilitating cross-cultural collaboration to align goals and ensure smooth operations
- Adopting US GAAP and completing a successful audit
- Implementing an ERP system, improving data management and process efficiency
- Engaging a Manila-based CPA firm to restate financials in US currency
Outcome
With these efforts, the company achieved an impressive transformation. Despite the complexities, CSuite successfully guided the team through the following:
- Smooth integration of two distinct corporate cultures, avoiding common merger pitfalls
- Completion of the IPO, raising $65 million, securing major returns for founding owners and private equity groups