Inusrity, a leading provider of cloud-based insurance software and analytics, needed support merging three companies into a single entity. As a private equity-backed business preparing for sale, the company required a solution needed better data organization and realigned priorities so they could spend less time on data creation and more time on analysis.

Here’s how Consero’s Finance as a Service (FaaS) model enabled Insurity to rapidly realign KPIs, rationalize systems, and deliver audit-ready financials that maximized purchase price at exit.

Insurity Background

Pre-Consero Challenges

Before Consero, Insurity suffered from:

Fragmented Systems

• NetSuite instance not optimized
• Order-to-Cash bottlenecks and manual revenue recognition
• Separate ledgers for each acquisition required time-consuming consolidation

Talent & Process Gaps

• High turnover on the accounting team
• No FP&A cadence or clearly defined recurring-revenue metrics

Software Challenges

• Lack of analytical views for Corporate (CRO, G&A) and product levels and owners

Preparing for a sale, Insurity needed a holistic solution to produce reliable, segmentation-level reporting and unify disparate systems.

Solution: Consero’s FaaS Implementation

Consero’s Finance as a Service (FaaS) solution provided the experienced finance professionals, customized operational processes, and robust software Insurity needed to support the daily financial operations and strategic decision making.

Dedicated Finance Pod

• VP Finance oversight and Controller leadership
• Weekly steering meetings with portfolio officer and PE team

System Transformation

• NetSuite re-architected for multi-entity, product, and corporate views
• Integrated Bill.com, BlackLine, and proprietary SIMPL dashboards

Acquisition Roll-Up Playbook

• Repeatable template loaded each new entity in under 90 days
• Standardized chart of accounts and month-end close checklist

Data & KPI Realignment

• Defined hard-line ARR, gross margin, and product P&L metrics
• Live dashboards gave CRO, product owners, and G&A leaders the same source of truth

Results: Rapid Audit and Exit Readiness

Rollups Made Easy: Consero developed a systematic, repeatable process to onboard acquisitions quickly and get a clear understanding of the true financial and operational status of the business.

Realigned KPIs: Consero defined KPIs and delivered accurate hardline data with targeted analysis so critical decisions could be made.

Successful Exit: From initial discovery to final exit of the portfolio company, Consero provided readily available financial information for corporate, product owners, and interested buyers. Consero seamlessly supported the sale process of Insurity to GI Partners.

Increased Enterprise Value: The 37% cost reduction over its previous in-house solution maximized returns upon the exit.

“Consero seamlessly supported the sale of our portfolio company. Because the numbers were always at our fingertips, buyer diligence moved quickly—ultimately protecting value and smoothing the entire process,” said Kevin Masse, Chief Portfolio Officer of TA Associates.

Building in-house vs. FaaS

Cost

A Partner for Every Stage of Growth

For nearly two decades, Consero has guided hundreds of private equity-backed companies through consolidating roll-ups, taming fragmented ERPs, eliminating Order-to-Cash bottlenecks, and producing audit-ready metrics under tight exit timelines.

Our Finance as a Service model, powered by our AI-enabled SIMPL platform pairs elite finance talent with proven playbooks and a best-of-breed tech stack, giving you a single source of truth in as little as 90 days. The result? Crystal-clear financial visibility, scalable operations that flex with add-on acquisitions, and a lower, predictable cost structure – all backed by Consero’s expertise in turning complex finance challenges into premium valuations.

Request a consultation for a tailored plan to optimize your finance function.

Five Elms Capital’s portfolio company Flywheel was faced with the common dilemma of having accounting practices that didn’t keep up with the company’s growth but took a chance on Consero as an outsourced financial solution. This is what happened next.

Read Full Case Study

Consero in Action: Flywheel

There was little doubt that Flywheel was a valuable business. The Omaha, Nebraska-based company was a leader in its space of managed WP hosting, having grown to $18 million in revenue and roughly 145 employees. But when Steve Isom arrived at Flywheel as the Company’s first VP of Finance, he found Flywheel’s accounting processes hadn’t evolved since its founding.

“Their accounting department was one person,” says Isom. “And everything was on QuickBooks® . . . for a business with almost 150 people.”

This one person also did payroll and benefits manually, which yielded an enormous amount of variance. To make matters worse, this person had resigned before Isom had started the job, so he was left with a single temp employee who was tapped to keep vendors and employees paid.

Move Fast . . . And Fix Things

“I was overwhelmed from day one, and the stakes couldn’t be higher for me,” says Isom. “This was the first time I’d be owning all the finance & accounting and I didn’t want to spend the first year just on getting the accounting function in order.”

He had started by looking for local talent, ideally a local controller with some experience at a tech enterprise, but Omaha didn’t have a deep pool of candidates. Even if he found the ideal person, it would take 6-12 months to onboard, train, research & architect new systems, implement, optimize, etc.

“The quality of the underlying financials ensures a smooth due diligence process. With Consero, I could focus on the transaction and not worry about getting financials in order. Their professional finance team and processes inspire confidence for everyone involved in due diligence.” Steve Isom – VP of Finance

The Proof is in the Process

“I did my due diligence, and after speaking with several current clients of Consero, I was sold,” says Isom. “Consero’s clients seem genuinely happy and not merely giving some standard issue referral.” But that was still no guarantee that Consero would work as well for Flywheel.

Luckily, he was relieved to find the onboarding process was smooth and well-run.

“I appreciated how informed and determined they were about best practices, when a lot of outsourced service providers simply offer to take over a client’s poorly designed, or non-existent process,” says Isom.

But the speed of the implementation process impressed Isom the most. “Their implementation is a 30- to 60- day process and we finished it in 21,” says Isom. Before, he worked day and night to get his work done. He joined in August, and by October, Consero’s team was in place, running the accounting and finance team. “By then, I was only devoting 30 minutes or so a day on accounting, and that freed me up for the strategic work I was hired to do.” Consero continued to impress him by asking questions once, documenting answers and holding themselves to consistently high standards.

Audit-tested

The first big test was when Consero managed a 2018 audit, despite only having handled the books since October.

“They passed with flying colors, so we knew just how detailed and accurate their work was from day one” says Isom.

By April 2019, the Company was raising additional capital, and the diligence process proved just how much the financial operations had improved.

“Consero handled all the investors’ inquiries as part of the normal course of business, without additional hours and fees, and always responded to questions within 24 hours,” says Isom.

Soon after, WP Engine, the market leading managed WP hosting company, made an unsolicited bid for Flywheel. After the two companies agreed on strategic alignment and a possible price, they dug into the books.

WP Engine tapped one of the big four accounting firms to sign off on the tax, finance and legal elements, and all that diligence work went right to Consero. “This wasn’t just about workload,” says Isom. “We were able to tell a story that we had known our systems and processes weren’t sufficient and we did something about it.”

Keeping Trusted Partners

Consero still serves Flywheel, even as the company is now part of WP Engine, which has its own substantial financial staff and resources.

“They understood that Consero was part of our team, my team, and that we were working well together,” says Isom. “And in this case, I don’t have to handle the HR or career development issues of in-house staff.”

Five Elms Capital was certainly impressed with the results, as they tapped Consero for three of their other portfolio companies since the success at Flywheel. Five Elms adds value to their portfolio companies by providing the resources and expertise to fulfill their potential. They have identified Consero as one of those critical resources, given the importance of clean, accurate, audit-ready financials, and a streamlined process. Consero frees the businesses up to do what they do best.

The Situation

Read Full Case Study

Sound financials are essential to exits, and with a $400 million transaction at stake, mobile banking company Hyperwallet needed to streamline its financials to attract and hold investor attention to close the deal. Before Consero, Hyperwallet suffered from:

• Frequent turnover in finance function
• Strategy sidelined for time-consuming daily financial operations
• Manual financial reports in Excel that demand more analytics

The Consero Solution

Consero’s Finance as a Service (FaaS) enables:

• Experienced and on-demand finance team
• Accurate, timely audit-ready financial reporting
• Efficient finance & accounting software and workflows
• On-demand back-office services including, transaction processing, closing and reporting, to scale as needed

The Client’s Results

Greater Business Continuity:

Optimized accounting policies, procedures and process flows boost investor confidence in routine hard closes, freeing executive’s time to focus on the impending transaction. This solution can be kept in place after an exit transaction – and at significant cost savings over an in-house solution.

Timely Financials: Accurate and more-informed due diligence reporting means investor confidence and lightning-fast LOI responses.

Successful Exit: Consero seamlessly supported the sale process of Hyperwallet to PayPal.

Savings: 31% over Hyperwallet’s in-house solution

“With Consero, I was able to focus on the transaction and not worry about getting the financials in order. Their professional finance team and processes inspired confidence for everyone involved in the due diligence process.”

– Christian Fadel, CFO