PE-backed tech firm gets instant, one-click access to all financial data with Finance as a Service
/Serial entrepreneur, William Hurley (Whurley), is the CEO of a quantum computing tech company in Austin, Texas. Whurley founded Chaotic Moon which exited to Accenture and then Honest Dollar which was acquired by Goldman Sachs.
When he looked at how he was going to manage finance & accounting, he evaluated everything from traditional outsourced finance to different tech platforms, tools and services. Nothing compared to Consero’s Finance as a Service option. Consero not only had the platform, tools and infrastructure they needed, but Consero had the experience in dealing with venture capitalists and private equity.
Consero’s Finance as a Service approach simplifies the complexities of the financial operations into an easy platform. Whurey has instant, one-click access to all the financial data when he is on the phone or in a meeting with investors.
From a finance perspective, when you approach investors for funding, it is important to have a 3rd party like Finance as a Service so there is an objective view. It provides an objective view of where you are at financially, what your projections are, and how well you are supported in the financial role. Consero helped Strangeworks understand what to report to private equity investors and, more importantly, how to present it.
The support of Consero’s Financial Planning & Analysis team was a tremendous help in figuring out the total adjustable market to modeling and planning what is needed to grow and scale the business. Whurley and the Strangeworks team get timely and accurate reporting and access to their financial operations through Consero’s SIMPL financial console. They also get help with the strategic side.
When there is an institutional investment, not only is there a new requirement for reporting, but there is a need for resource planning. Consero provides those FP&A services to Strangeworks on an as-needed basis. Scaling Strangework’s financial infrastructure is easy with Consero’s SIMPL. Through the SIMPL financial console, the company has a general ledger, expense reporting and everything they need to manage their financial needs as they grow the company.
Why is it important to have your books button up? You will be able to raise more money and raise money faster when your books are in order. But, when you get to an exit, nothing becomes more imperative than having your financial house in order.
With Consero’s Finance as a Service approach and the SIMPL financial console, Whurley is completely prepared with their finances as they grow and scale the business into the future. If Whurley had to build this in-house, it would be extremely difficult to estimate how much time and money would have been spent to duplicate what they are getting with such an easy-to-use service like Consero.
