Elevate Your Strategy with Consero’s Advisory Services

In today’s fast-paced business, finance teams face many challenges that can hinder growth, introduce new risks or increase costs. In these scenarios, highly experienced external teams can provide support and ensure success during these critical moments.

Consero’s Advisory Services focus on helping executives, investors and finance teams meet evolving critical needs during every stage in your company’s growth. During this virtual event, Consero’s Advisory Services team discussed the benefits of bringing a dedicated team of financial experts to act as a trusted partner for projects including:

  • CFO Advisory Services
  • Financial Planning & Analysis and KPI Reporting
  • Technical Accounting & Clean-Up Projects

To learn more, visit us our website:  https://conseroglobal.com/request-a-consultation/

Social Care Software Platform Uses Finance as a Service to Create a Scalable Finance Function

During a recent Dive-In & Dine webinar, Consero Global Vice President of Marketing Bridget Howard spoke with Chad Denton, the CFO of Findhelp, about how the organization is outsourcing the finance and accounting function to Consero. Findhelp’s social care technology connects people to the help they need with dignity and ease.

Denton and Findhelp have created a cost-effective, scalable, data-driven finance function by partnering with Consero to leverage the Finance as a Service (FaaS) model. Consero provides Findhelp with a standard set of financials via SIMPL, Consero’s FaaS software platform, with additional custom reports as needed. The pricing structure scales with the business, offering additional support and custom reporting as needed.

No More In-house Accounting

Denton first worked with Consero when employed by a software company in the mid-2000s, outsourcing the company’s finance and accounting functions to Consero.

“That’s when I decided that I didn’t want to do accounting in-house ever again,” he said. “It’s no fun and I’m not very good at it. I’d rather spend my time focusing on strategic and operational tasks for the business.”

When Denton joined Findhelp two years ago, the company was already outsourcing its accounting. “But I wanted to work with Consero and take advantage of all the additional services they offer through FaaS,” he said.

Denton also likes the fact that Findhelp doesn’t have to purchase any accounting or reporting software. “Consero handles all of this,” he said.

Simplifying Board Reporting

As an investor-backed CFO of a healthcare software company, Denton tries to make board reporting as simple as possible. “Yes, board members need metrics and data, but I create a three-to-four-page summary view to describe what happened. This makes for a more interactive board discussion that’s more efficient than just a data dump.”

Consero provides all the variances, which allows Denton to see financial data in real time. “This is incredibly helpful,” he said. “I can share with my staff how they are positively impacting KPIs that drive our business. The more information I can provide them, the better decisions they will make.”

Meeting Staffing Challenges with Outsourcing

Howard noted a recent study indicating that labor and staffing are one of the top challenges facing CFOs today. By outsourcing to Consero, Denton and an in-house staff of just two employees are able to handle all of Findhelp’s finance and accounting. “This is crucial to scaling the business because we’ve been growing at 50% annually for the past four or five years,” he said. All this growth has been organic: It took Findhelp 10 years to reach one million users and now they’re adding this many new users every month. Outsourcing F&A to Consero removed the burden of hiring internal finance and accounting staff to keep up with this growth.

“We’re on a path to profitability, and Consero has been a big part of this,” said Denton.

To learn more about Consero and the benefits of using the Finance as a Service model, you can request an introduction here: https://conseroglobal.com/request-a-consultation/

Solving for the CFO: Staying Ahead of Growing Challenges and Demands with Consero’s Advisory Services

As the role of the CFO has evolved in recent years and become both strategic and more complex, the difficulty of sourcing CFO talent has grown substantially for growth equity and private equity investors looking for looking for the right CFO talent for expansion stage and middle market portfolio companies. But now with Consero’s CFO Advisory Services – there is a solution.  

Private equity understands that market uncertainty will remain a constant for the foreseeable future and are trusting in their own ability to create value within their portfolio.  But this dynamic only increases pressure around those value creation efforts and the ability of any portfolio company leadership to deliver against investor expectations.

CFOs have always been part of the executive leadership “team” but historically within the middle market these CFOs tended to be Chief Number Crunchers who assemble and deliver financial performance reports. But today’s CFO is increasingly looked to as a business partner to the CEO and provides higher-level strategic guidance, especially for those companies undergoing major changes or realignments, which describes virtually all PE-backed enterprises. At the same time, it is challenging to find the higher caliber of talent for CFO roles, especially for smaller companies in the middle market.

This dynamic has created demand for a new suite of advisory services that acts like a “CFO on speed dial” that allows a portfolio company to enjoy on-demand expertise of top financial executives, without committing to a long-term compensation package. So Consero, a pacesetter in Finance as a Service (AKA ‘FaaS’) , has formalized and launched an advisory business that includes CFO Advisory Services in response to ongoing needs within our own customer base of 500+ growth stage and mid-market enterprises.

“Many of these clients might be founder-led businesses that are growing fast enough they need sufficient senior financial leadership and might be struggling to produce reliable pro-forma financials and KPIs,” says Tyler Nelson, Consero EVP of Corporate Development and General Manager of Advisory Services.  “But they also need that extra level of strategic stewardship that CFOs weren’t expected to have in prior times.”

Having served as CEO for a number of companies before joining Consero, Tyler has seen first-hand how the CFO role has evolved. “It used to be about closing the books on time and delivering an accurate forecast, but now companies are relying on CFOs to deliver actionable business intelligence to make decisions in real time,” says Nelson. “And that level of CFO upskilling can be unaffordable for a mid-market enterprise to establish, which is why we offer these capabilities as part of our Advisory Services.”

This kind of offering becomes crucial as companies move towards a sale process to a buyer, explore strategic M&A, need further equity or debt financing, or feel unprepared for some upcoming due diligence. They might have secured funding from an institutional investor but lack the expertise to manage complex issues such as valuation or are unable to appropriately plan their future growth.

Consero’s CFO Advisory Services works closely with CEO’s, Boards and executive teams to tackle these issues. Consero’s team can lead strategic and technical initiatives across the gamut such as debt restructuring initiatives; equity financing; capital investment; or product pricing and unit-level economics. They can quickly get a company into sale process readiness or drive acuity into working capital management and cash burn rate projections. And they can tackle the more traditional budgeting and forecasting, as well as offer access and guidance around critical partner relationships.

“Not every company needs to bring that kind of CFO in-house,” says Nelson. “But that doesn’t mean they don’t need everything that CFO might bring to the table. We aim to offer an alternative solution that’s tailored to the unique needs of that company.”

So private equity investors struggling to find the right CFO to meet all of their needs, tapping Consero’s CFO Advisory Services will exactly the resources needed in real time delivered through our flexible, on-demand resourcing model.

 

Learn more about Consero Advisory Services here: https://learningcenter.conseroglobal.com/consero-advisory-services

Mastering Metrics: Critical KPIs for Business Success

Understanding and leveraging key performance indicators (KPIs) is essential for driving growth and maintaining a competitive edge. Join us as we delve into the world of metrics, exploring the most vital KPIs that businesses should track to achieve sustainable success and incorporating real-world examples.

During this webinar, our presenters provide invaluable insights into aligning KPIs with organizational goals, leveraging data analytics for informed decision-making, and fostering a culture of performance excellence throughout the executive team.

To learn more about Consero, visit us at: https://conseroglobal.com/request-a-c…

Effective CFO Investor Collaboration: A Win-Win Approach

In this video, our panel of seasoned experts share their wealth of knowledge in navigating the complexities of CFO-investor relationships, offering practical tips and strategies that you can implement in your own endeavors.

– David Acharya, Managing Director of Acharya Capital Partners

– Jennifer Mabe, CFO and Board Director

– Leon Chen, Managing Partner, Kayne Anderson Capital Advisors

– Tony Esposito, Managing Director, Consero

To learn more, visit us our website:  https://conseroglobal.com/request-a-consultation/

 

How OK2Charge Scaled the Finance Function with Finance as a Service

Serial Entrepreneur Hails the Benefits of Finance as a Service (FaaS)

During a recent Client & Cocktails webinar, Consero’s Director of Private Equity & Venture Capital, Tony Esposito, spoke with serial entrepreneur Eric Broughton about his experiences using the Finance as a Service (FaaS) model at some of the companies he had led over the past decade.

Broughton is currently the CEO of OKCharge, an electric vehicle charging platform for real estate operators and owners. With this platform, vacation and short-term rental owners can allow guests to charge their vehicles at the property instead of having to go to a charging station. The platform can also be used at hotels and resorts, multifamily apartments, single-family rentals, and workplaces.

Going Beyond a Fractional CFO

Broughton first met Consero’s Founder, Scott Tynes, a decade ago and decided to give the FaaS approach a try. “I’d been brought in as CEO to a startup business that was losing considerable money,” he said.

“There was a heavy burn. I wasn’t seeing the trajectory of the business and wasn’t seeing the financials as I expected to see them coming from a large public company.” Diving deeper, Broughton still couldn’t get the data he needed. After discussing the problem with a board member, he was introduced to Tynes. “I realized the concept went beyond a fractional CFO,” he said. “There was a technology platform called SIMPL® that brought everything together in one place, with one single point of entry. This made sense to me because I don’t want to be an expert in all these different platforms. I just want it to be done so l can have a Finance & Accounting platform that will scale so I can take care of my clients.”

Esposito pointed out that FaaS helps companies achieve considerable time savings by outsourcing the finance function, which isn’t a core competency. This frees up companies to spend more time focused on the core competencies that grow the business.

“Having greater peace of mind is one of the biggest benefits of the FaaS model,” said Broughton. “My mind isn’t spinning thinking about finance details. I can focus on the goal of achieving a successful exit for the business.”

In using Faas at OKCharge, Broughton said he looks to his outsourced finance team at Consero as a partner even more than before. “I was looking through our financials last night and sent Juan, my Consero VP of Finance, a note asking if we could talk this morning because I had a question about financials. It’s great to be able to just fire off an email to Juan whenever 1 have a question and have a positive conversation with him when I need to.”

To learn more about Consero and the benefits of using the Finance as a Service model, you can request an introduction here: https://conseroglobal.com/request-a-consultation/

CFO of findhelp Delivers the Best Impact to Investors Using Finance as a Service

Watch the Client Dive-In & Dine discussion with Chad Denton, CFO of findhelp, as he shares how to deliver the best impact to investors. As an investor-backed CFO of a healthcare software company, Chad created a cost-effective, scalable, data-driven finance function by partnering with Consero and leveraging the Finance as a Service model.

Learn why findhelp chose Finance as a Service (FaaS) and how Consero provided:

  • A standard set of financials via SIMPL® with additional custom reports as needed
  • A solution and pricing structure that scales with the business with additional support as needed via Consero’s Advisory and Staff Augmentation Services
  • An experienced finance & accounting team to act as a trusted advisor and close books by business day 10
  • Freed executives from spending time on F&A so they could focus on strategy and developing internal team

To learn more, visit us our website: https://conseroglobal.com/request-a-consultation/

Consero Client Dive-In and Dine with Chad Denton: Delivering the best impact to your investor

Watch the Client Dive-In & Dine discussion with Chad Denton, CFO of findhelp, as he shares how to deliver the best impact to investors. As an investor-backed CFO of a healthcare software company, Chad created a cost-effective, scalable, data-driven finance function by partnering with Consero and leveraging the Finance as a Service model.

Learn why findhelp chose Finance as a Service (FaaS) and how Consero provided:

– A standard set of financials via SIMPL® with additional custom reports as needed

– A solution and pricing structure that scales with the business with additional support as needed via Consero’s Advisory and Staff Augmentation Services

– An experienced finance & accounting team to act as a trusted advisor and close books by business day 10

– Freed executives from spending time on F&A so they could focus on strategy and developing internal team

To learn more, visit us our website:  https://conseroglobal.com/request-a-c…

 

How You can Benefit from Fractional CFO Services

How You Could Benefit from Fractional CFO Services

Growing middle-market businesses today face a number of financial challenges, from improving cash flow and profit margins to managing inflation and high interest rates.

Many are turning to fractional CFOs to help them meet these challenges.

A fractional CFO is an experienced finance professional who provides strategic financial guidance on an outsourced basis. This can be beneficial for businesses that aren’t big enough to employ a full-time CFO but need a higher level of financial expertise than a controller can provide.

A Cost-Effective Alternative to Hiring a Full-Time CFO

By obtaining fractional CFO support, middle-market companies can receive high-level CFO expertise at a lower cost than hiring a full-time CFO. This is especially critical for middle-market companies that may be too small to afford a full-time CFO but need a higher level of strategic guidance.

Strategic financial planning is critical for middle-market businesses that want to reach the next level of growth. But these companies often find themselves in a Catch-22: To grow, they need a higher level of financial expertise than they have on staff, but they can’t afford the six-figure salary, generous benefits package and other overhead it takes to hire a full-time CFO

To learn more about Consero and the benefits of using CFO Services, you can request an introduction here: https://conseroglobal.com/request-a-consultation/

Due Diligence Readiness: Navigating State and Local Tax Complexities in M&A Deals

Over the past four years, state and local taxes have become a key component of all due diligence reviews, especially in software and services industries. Sellers have realized that lack of controls and compliance in areas such as sales and income tax have resulted in significant escrow hold backs during the sale process. 

That’s why Consero is partnering with Source Advisors, a premier specialized tax consulting firm, for this on-demand webinar that aims to help sellers prepare for a future sale as well as help minimize historical liabilities. We will also explain how companies currently in the sale process can work with buyers to minimize escrow amounts.

Whether you are preparing for a future sale or are currently engaged in the process, this webinar is essential for unlocking the full potential of your transaction.

To learn more about Consero, visit us at: https://conseroglobal.com/request-a-consultation