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 a seasoned CSuite Partner with public accounting and industry experience, the company successfully navigated the road to an 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
CSuite was able to not only bridge the cultural gap of international acquisitions, they were able to smoothly transition through the IPO preparedness, the integration of the merger, and establishment of controls and financial reporting. After a year and a half, the team watched as the US IPO yielded $65 million for the founding owners and private equity groups.