Realising Value – Supporting a Tech Business Through Listing and Beyond

Summary for CFOs

We supported the finance team of an innovative tech business in preparing for a successful listing on the London Stock Exchange. Our focus was on strengthening financial controls, processes, and reporting to meet public company standards. Post-listing, we remained on hand to help the business navigate the ongoing demands of operating as a listed entity.

“Everyone at Swan has this special quality you’re all lovely. Very friendly, approachable I don’t know where it comes from in the organisation but the way that Swan works makes it very easy for us to work with you.

Swan’s sole duty of care was to help and support us. Swan really did just take work away from me and crack on. Brilliant at communicating. A safe pair of hands and completely reliable” – CFO

The Client’s Challenges

As the business prepared for its listing, several challenges emerged:

• Listing in a Quiet Market: With few IPOs occurring due to economic uncertainty, scrutiny from investors and regulators was heightened.
• Rapid Growth and Operational Complexity: The company had expanded significantly, and while financial control was strong, investment was needed in finance processes, policies, and procedures to meet listing requirements and future growth.
• Time and Resource Constraints: The finance team faced pressure to manage day-to-day operations whilst preparing for the demands of becoming a listed entity.

These challenges risked undermining confidence in financial governance, placing strain on internal resources and ultimately delaying the listing.

Our Solution

Ensuring Fit-for-Purpose Financial Controls, Processes, and Reporting

FPPP Review and Implementation

• Conducted a detailed review of the company’s status against the Financial Processes, Policies, and Procedures (FPPP) guidance.
• Used proprietary methodology to ensure the FPPP review focuses on the remediation actions (not simply a report for management).
• Identified gaps and areas requiring development or documentation through structured workshops with management.
• Developed and subsequently project managed a milestone plan to guide timely action and supported its implementation.
• Managed the day-to-day relationship with the Reporting Accountant, freeing up senior finance team time and ensuring alignment on expectations and timelines.
• Supported development and review of process and policy documentation,
• Prepared a tailored, short-form FPPP Board Memo for Management’s agreement and Board adoption.

Post-Listing Controls Framework

• Continued support post-listing to implement identified improvements.
• Designed a controls framework to determine appropriate frequency for control review and testing, based on materiality, risk, and usage.
• Built a control review programme, including a testing guide and output templates for the finance team.
• Developed visualisations of the audit programme results and control status to support regular reporting to the audit committee.

The Impact

• Successful Listing: The company achieved a successful listing on the London Stock Exchange,
• Positive Audit Committee Feedback: Management received strong feedback on their approach to monitoring and reviewing control effectiveness.
• Sustainable Governance: The new processes and documentation provided a foundation for ongoing compliance and continuous improvement, supporting the company’s transition to life as a listed business.