Finance as a Service quickly builds a scalable finance function during a private equity carve out

Jared, CFO of Springbrook (acquired by Accel-KKR), shares his experience with an unsteady finance function, the challenging impact of a Carve-Out scenario on the finance & accounting function and how to overcome the void that is left.

Learn how Jared leveraged Consero’s Finance as a Service to reduce time spent on building a finance & accounting function and:

  • Quickly implement a scalable, cloud-based system with advanced functionality
  • Access a reliable and skilled finance team
  • Get automation to support contracts, project accounting and CRM integration
  • Develop workflows for AP, Collections, Expenses, and Cash forecasting
  •  Get support for upcoming acquisition
  • Offload transactional roles so he could focus on strategic initiatives

To learn more about how you can quickly build a scalable and efficient finance function, visit www.conseroglobal.com.

 

Cocktails and Consero: Client Discussion with CFO of Pelitas

Cocktails & Client Discussion: Donald McClure is the CFO of Pelitas, a private-equity backed software business. During this event, Donald shares his story of how he was able to stay focused on strategy and the 100-day plan vs. managing the finance function. Donald shares his experience with Consero’s Finance as a Service (FaaS) model, and describes the value and impact it’s had on the business.

CFO Client Discussion with Wes Edwards, CFO of Multi-Location Healthcare MSO (backed by Sverica)

Consero’s Finance as a Service enabled the newly hired CFO to focus on being a strategic partner to the CEO with confidence that the basic finance function would be handled properly. Watch the on-demand video (recorded Sept, 2021).

Top 3 takeaways:

  • CFOs can’t be a strategic partner to the CEO if they are stuck in the finance & accounting function
  • Passing an audit and closing the books in a timely fashion is essential when exploring capital markets
  • Building a finance function piece by piece will be more costly and result in a longer timeline because implementations always take longer than promised

You can also read the MedFirst case study and learn more about how the CFO was able to get an investor-grade financials and upgrade the finance function without having to build it from scratch.

Would you like a short introduction to Consero and learn about how your organization can benefit from Finance as a Service?

  • Connected Data
  • More Time on Strategic Initiatives
  • Audit & Due Diligence Ready
  • Process & Controls
  • Financial Visibilit
  • Poised for Growth

Schedule a 30-minute intro today: reserve your time here.

CFO of Broadway Technology discusses how CFOs can be a strategic partner to the CEO and investors

Longtime Consero client, Scott Sanders, CFO of Broadway Technology, a software and fintech company backed by Long Ridge Equity, BC Partners and HPS Investment Partners, discusses his experience with Finance as a Service and describes the value it brings to his role as CFO and to the organization overall.

During the discussion, Scott tells us how Consero’s Finance as a Service model enables him to:

  • Free his time from managing the back-office so he can spend most of his time adding value to CEOs and Investors
  •  Keep the cost of the F&A function low and reduce business continuity risk with Consero managing all the hiring, training and backfilling all finance talent
  • Easily pass an audit and quickly turn around large info requests during due diligence
  • Have “less worry” because of Consero’s checks and balances and a solid process for closing the books

Take a look at why Finance as a Service and a fully managed financial solution could be a fit for you: www.conseroglobal.com

VC-backed CEO discusses how Finance as a Service drives value in the finance function

Consero visits with longtime client, Corey Gross, CEO of Sensibill, a software and Fintech company. Corey has successfully raised Seed, Series A, and Series B funding across a number of venture funders including: Radical Ventures, Information Venture Partners, First Ascent Ventures, Mistral Venture Partners, Impression Ventures, and Operative Capital.

During the discussion, Corey tells us how Consero’s Finance as a Service model enables him to:

  • Be due diligence ready as Sensibill raised a SEED, Series A, Series B in addition to debt ggreements with financial institutions and government grants and loans, all of which required diligence
  • Get experienced CFO advice that helped navigate Board interaction, funding rounds and business fluctuations
  • Have timely and accurate financial reporting that allowed for consistent clean audit opinions and timely investor and bank reporting
  • Access a sophisticated accounting platform including a cloud-based finance & accounting technology stack with workflows and automation to deliver real-time visibility into key financial data

Take a look at why Finance as a Service and a fully managed financial solution could be a fit for you: www.conseroglobal.com

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Private equity firm leverages Finance as a Service to quickly build strategic finance teams and get streamlined reporting

BV Investment Partners is a middle-market private equity firm that invests in tech-enabled and services companies. When they bring an investment into their portfolio, the biggest pain that they see:

  1. Under-developed finance teams
  2. Lack of timely, accurate and up-to-date reporting
  3. CFO’s strategy sidelined for time-consuming daily financial operations

The Traditional Solution:

Building a finance team with a recruiter was a prolonged process and there was no guarantee that hires would be a success. Updating the unsophisticated finance & accounting systems was a time-consuming implementation taking 9-10 months without confidently knowing if they would get a fully optimized finance function.

The Consero Solution:

Consero Finance as a Service (FaaS) provides:

  1. Efficient and scalable finance & accounting software and workflows
  2. Experienced and on-demand finance team (to address fluctuating needs)
  3. Accurate, timely audit-ready financial reporting
  4. Consistent and reliable back-office services including, transaction processing, closing and reporting, to scale as needed

The Client’s Results:

  1. New Systems: Updated with best-in-breed systems and processes mapped to the business within 30-90 days. This improved the quality, efficiency, and cost structure of financial operations.
  2. Quick & Accurate Reporting: SIMPL’s standardized and accurate financial reporting enables a clear finance picture and sharp decision making.
  3. Scalable Team: Resources can scale as quickly as the portfolio can grow.
  4. Repeatable Results: Consero has seamlessly supported 6 BV portfolio companies

BigCommerce

Robert Alvarez is a two-time winner of the Austin Business Journal’s “CFO of the Year”. Hear how he gained efficiency and control by eliminating manual processes and having access to reporting that is real-time and actionable. Working with Consero has been so effective that this CFO would never build his own finance department to manage back-office and technology resources again.
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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.