Setting high standards for finance directors who are aiding their companies in preparing for the future is a good idea.
The “IPO-readiness standard” is the highest bar in terms of processes, controls, systems, and the ability to produce timely reports and precise forecasts, according to ExtraHop Chief Financial Officer (CFO) Matt Parson.
Having discipline in your company is a good idea whether you want to go public or not, according to Parson. Many of the things you would do already constitute sound business discipline and practices.
Public-Market Regulation Introduction
ExtraHop, a cloud-native network intelligence firm, offers a cyber defense system called Reveal(x) 360.
Parson joined the firm in August, bringing with him expertise that included roles as CFO at Red Hat, a producer of infrastructure software, and Paymentus, a developer of payment solutions.
The company said in a news release announcing his employment that he will be in charge of ExtraHop’s financial operations with “an eye on infusing public-market discipline to ExtraHop.”
Strengthening the Foundation
According to Parson, the proper foundation comprises automation as well as effective procedures, controls, and systems, noting that ExtraHop’s are on par with or superior to what could be anticipated for a business of its size and scope.
To reach the IPO-readiness standard, the company must also keep expanding its operations, lead the industry in network security, and prioritize its clients’ needs.
Tightening up procedures for spending and making sure the business is getting a return on investment are additional crucial tasks for CFOs of every firm, at any time.
Putting the mission and customers first
It’s crucial for businesses to maintain their focus on their goal and the problems they solve for their consumers while they deal with the aftermath of the epidemic, inflation, and other difficulties.
According to Parson, he constantly tells the group and the company that they have no control over the economy or inflation, but they do have power over providing excellent customer service.
Leading the way for businesses in network security is something ExtraHop, in particular, is doing at a very relevant and opportune moment that applies to every firm, according to Parson.
