ATC is the voice of Central Texas’ diverse and thriving technology and life sciences industries. By convening Austin’s top technology executives, ATC is leading the effort to meet the future needs of the industry through increased access to technical talent, increased access to later-stage capital, the support of a thriving life sciences ecosystem, and connectivity across the industry and with key stakeholders in Texas and around the world. As ATC continues to grow, it became apparent that their F&A services were very limited. They were relying heavily on using spreadsheets and manual transactions were labor intensive. Julie Huls brought on Consero to help them with these challenges. The biggest improvement Consero has made has been on the reporting functions. Bringing sophisticated reports to the board of directors has made a huge difference. Consero was also able to bring them a full team rather than a one person show. This allowed Julie to focus more on planning, forward thinking and strategy.

Consero FaaS: Disrupting the Outdated Traditional F&A Model

Transformation
  • Cash to GAAP conversion
  • Clean-up work
  • Interim oversight & support
  • Accounting software Implementation

Build it Yourself Solution

  • CFO / Interim CFO
  • Consultants / VARs

Consero FaaS Solution

  • CFO / Interim CFO
  • or Consero Interim CFO
  • Consero Setup/Transformation
Ongoing F&A
  • Monthly financials
  • Daily accounting support
  • Management reporting
  • Integrate add-on acquisitions

Build it Yourself Solution

  • CFO
  • Controllers & Accounting Team
  • Enterprise Accounting Applications

Consero FaaS Solution

  • CFO
  • or Consero Fractional CFO
  • Consero FaaS Enterprise F&A Software and Services

New PE Platform Investment F&A Challenges

Founder Owned Company Accounting:
  • Existing accounting done on a cash/hybrid basis
  • Run on SMB accounting software and other disparate applications
  • Inability to produce auditable financials
  • Lack of know-how to develop projections & KPIs
  • No consistency/structure to customer contracts
  • Underqualified staff
  • Non-scalable manual processes
Carve-Out Accounting:
  • Required to move off parent company accounting applications in a timely fashion
  • Have to build an entire F&A team
  • No documented operational policies and procedures
To Optimized Finance & Accounting:
  • Monthly financials available in 5-10 business days
  • Audit and diligence ready support details
  • Integrated enterprise grade accounting software
  • Budget and forecast reporting
  • Business KPIs
  • Efficient & scalable processes for rolling in add-ons