Consero Global delivers a robust financial solution

Updated: February 11, 2021

Below is a recent interview with Scott Tynes, CEO of Consero Global. This interview was originally posted by TechCompanyNews.com on May 21, 2018.

Scott Tynes

Q: Could you provide our readers with a brief introduction to Consero Global?

A: Consero Global disrupts the way businesses build and maintain their finance & accounting function. Through a cloud based platform, Consero delivers the financial clarity and efficiency needed to quickly make the the decisions that drive a business forward. Strategic CFOs are adopting Consero’s cutting-edge, Finance as a Service (FaaS) model to free up time and understand how their businesses are performing. Founded in 2006 by Scott Tynes and Bill Klein, Consero provides the control and insight needed to steer businesses toward success.

Q: You’re about to introduce next generation in finance and accounting speed and clarity; could you tell us something more?

A: Consero is unveiling its new SIMPL financial command center. With SIMPL, companies can have Fortune 500 level financial tools no matter their size. With SIMPL, 80% of the solution is already pre-built for each customer, then the last 20% is customized to fit the unique business needs of each company. This provides maximum benefit of the client company and creates tools and services that are more than just outsourced accounting or CFO services. Sophisticated enough for the most demanding CFO, yet intuitive enough to be accessible to every member of management, SIMPL further establishes Consero as the leader in the FaaS industry.

Consero GlobalQ: Can you give us insights into your features?

A: The SIMPL financial command center gives busy c-suite executives the ability to quickly:

· See and understand how their business is performing today
◦ Cash, AR, AP, Billing, and where they need to take action to support the business
· Interact with the business and finance teams so they can take fast action
◦ Pay bills, approve timesheets, create and receive finance team requests
· Manage Performance by viewing graphical information and financial reports
◦ Profitability, Cash Flow, Performance Metrics, Management Financial Reports
· Learn about the factors that are driving changes in performance
◦ View customer, vendor and employee level details underlying top level performance

New features include:

1. SIMPL user interface including a clearly displayed to-do list
2. Modern design with a fresh user experience
3. Interactive Financial Reporting
4. Automatic notification of new features

Q: What are the benefits of finance as a service?

A: · Personalized financial guidance
· Painless daily accounting that just works
· A single software interface with real-time access to your team and ALL of your financial data
· A predictable and cost-effective service-based pricing model

Q: What are your plans for the future?

A: The future of finance will be heavily influenced by the application of artificial intelligence. We are already building AI into our SIMPL platform to increase transparency and automate many manual functions in order to further improve customer experience and efficiency. AI will enable customers to quickly receive answers to common finance and accounting questions at any time and without human involvement. Utilizing AI to automate tasks like invoice coding and account reconciliations will allow our team members to spend more time understanding our clients businesses and providing more personalized and higher value services.

Related Resources

A provision of the Dodd-Frank Act protects internal whistleblowers.
CEO / CFO

Working With Executive Team on Company Growth & Exit Strategies

This was originally posted by the CFO Leadership Council The process of bringing your company to a place where you can exit successfully can easily ...

Why startups fail for the same reasons

They may be software developers convinced they’ve cracked the code to the next big idea in tech, or simply local shops that open up to ...
CEO / CFO

Will Your Back Office Stunt Your Company Growth?

Your objective is growth: steady, sustainable and accelerating. Can your back office financial operations support this growth without falling apart and adding non-scalable costs? Consider ...
glass building with sun setting behind
ArticleFinance & Accounting

How to get your F&A function at or under 1% of revenue

Here's how to build and optimize a lean and agile finance function.
Video Testimonials

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 ...
Events and Webinars

Cocktails and Consero: Client Discussion with CFO of Pelitas

CFO of PE-backed Pelitas shares his story of how he was able to stay focused on strategy and the 100-day plan vs. managing the finance ...

Finance as a Service

Cutting edge technology, processes, and people in a fully-managed solution to deliver precise financial visibility and improved operational scalability, plus a lower and more predictable cost structure. 

Flex Finance

Keep your existing technology and processes. We can manage the back-office F&A function from end-to-end process, including closing the books. When you need skilled talent, we can supplement your F&A team.

Advisory Services

Expert advice and strategies to help you grow.

• CFO Advisory Services
• FP&A and Reporting
• Technical Accounting & Clean-Up
• Business Process and Technology Transformation

Consero FaaS: Disrupting the Outdated Traditional F&A Model

Transformation
  • 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