Spring 2024

CFO Survey:
Challenges and Opportunities for Investor-Backed CFOs

A survey of 100 investor-backed CFOs .

Get the Powerful Insights to See What You Should be Considering

Key Findings

of investor-backed CFOs report working with a finance and accounting partner.
0 %
of CFOs are experiencing a shortage of financial professionals
0 %
of CFOs are employing AI tools in financial reporting
0 %
“In order to cope with the rate of high employee turnover, I strive to create a better working environment and enhance the cohesion of the team, which makes me more effectively manage the financial department.”
- PE-Backed CFO | Technology

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Driving Change Through Finance & Accounting

Executive Summary

Investor-backed CFOs have seen significant value in having third-partner finance and accounting partners, particularly in addressing key challenges like:

  • Establishing clear financial processes
  • Managing post-M&A financial integrations
  • Achieving timely financial reporting. 

Our research identifies disparities in financial management between CFOs who utilize third-party partners and those who do not, with partnered CFOs reporting better audit and funding event preparedness, and more efficient financial processes.

"In the financial merger after M&As, I need to coordinate the integration of different systems and processes to ensure the accuracy and consistency of financial data."
- PE-Backed CFO | Technology

Consero FaaS: Disrupting the Outdated Traditional F&A Model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