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

Updated: March 10, 2022

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 hiring, training and backfilling of the finance team
  • 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

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Finance as a Service

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Consero FaaS: Disrupting the Outdated Traditional F&A Model

Transformation
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  • Clean-up work
  • Interim oversight & support
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Consero FaaS Solution

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Consero FaaS Solution

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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:
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  • Have to build an entire F&A team
  • No documented operational policies and procedures
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