Real-Time Visibility Is Key to OnDeckâ€™s Continued Success Following Its IPO
Posted by Kendall Fisher, Executive Producer and Host of The NetSuite Podcast
OnDeck is a leading online platform for small business loans. It works with proprietary lending technology and analytics to aggregate and analyze thousands of data points in order to assess the creditworthiness of small businesses rapidly and accurately.
The company went public in 2014â€”just three days after Chief Accounting Officer, Nick Sinigaglia, joined the team.
Needless to say, Sinigaglia was tasked with quite the challenge from the start. He understood the tight deadlines that came with going public and the need for gathering data quickly, efficiently and without error. This, of course, couldnâ€™t happen without the right processes in place.
Sinigaglia joined OnDeck just about a year after the company separated from QuickBooks and Microsoft Dynamics, having decided to implement NetSuite. Although he admits he was more of an â€œon-premise guyâ€� when he came on, he now realizes the impact NetSuite has on the company.Â
On this episode of â€œThe NetSuite Podcast,â€� we sat down with Sinigaglia who opened up about the importance of a cloud-based solution for OnDeck as well as the impact of an automated solution when it comes to meeting deadlines, growth and expansion. He also revealed how NetSuite played a big role in OnDeckâ€™s smooth IPO, both leading into it and afterward, providing real-time visibility, control and flexibility.