Consero Press Article

Consero Global Acquires the Assets of Positive Venture Group: Acquisition Expands Finance as a Service and Geographic Reach

AUSTIN, TexasAug. 10, 2021 /PRNewswire/ — Consero Global LLC, a pacesetter in Finance as a Service (FaaS), today announced that it has acquired the assets of Positive Venture Group (PVG), Canada’s market leader in full finance outsource services.

The Ottawa-based PVG complements Consero’s offerings with its Canadian-outsourced finance market knowledge as well as its deep experience with NetSuite’s business management platform. The company, founded in 2015, has over 60 clients and offers a range of offerings, including outsourced accounting, financial planning and analysis, C-level advisory, virtual CFO and Funding Readiness.

PVG boasts close ties to the venture capital community and other growth stage funders, which fosters its reputation as the service provider of choice to emerging high-growth companies. Consero has played a similar role with the private equity and venture capital industry in the U.S. Both companies have a proven track record of delivering the accelerated, high-quality service that’s demanded by businesses in these firms’ portfolios.

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Consero FaaS: Disrupting the Outdated Traditional F&A Model

  • 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