Jared Hale, CFO of Springbrook Software (backed by private equity firm Accel-KKR), shared his experience in managing a complex carve-out. Leveraging the Finance as a Service (FaaS) model was critical to building a scalable finance function from the ground up.
Why Carve-outs are Uniquely Complex
Carve-outs compress what are usually sequential back-office builds into a single, high-stakes timeline. The parent company’s shared services disappear overnight, so CFOs must stand up everything at once.
- Simultaneous Setup: In a carve-out, functions like ERP systems, payroll, benefits, and 401(k) must all be established at the same time and within a very short timeframe.
- Multiple Projects: Each of these implementations is a major project in itself, but a carve-out requires them to be executed concurrently.
Springbrook Software has navigated the carve-out process twice, first during its acquisition by Accel-KKR in 2020 and again with a more recent acquisition of its own.
“The parent company handles the overhead—ERP, Salesforce, payroll, benefits, 401(k)—and in a carve-out you have to stand up all of those at the same time,” said Hale.
The Carve-out Playbook: Choosing Partnerships > Direct Management
Faced with the monumental task of building a finance department from scratch, Jared assessed that he couldn’t manage every implementation tactically on his own.
He chose to partner with Consero for breadth and repeatability—bringing experience, a repeatable model for growth, and ability to implement quickly.
- The Three Pillars: The immediate need was to establish systems, processes, and people simultaneously, as none existed post-carve-out.
- Finding the Right Partners: The core strategy was to identify partners who could work both collaboratively and independently to execute on the aggressive timeline.
- The Power of a Playbook: Jared specifically sought a partner with a documented playbook for both initial implementation and long-term operations + M&A.
“I was looking for the right partners that could work with me and also independently so that we could actually execute on all of those implementations at the same time. We chose Consero because they had a strong playbook—not just for the near term but also for ongoing operations and M&A.”
Operating Cadence: Faster Closes & Audit Readiness
Jared highlighted key performance indicators (KPIs) that defined a successful partnership with Consero, demonstrating tangible results in efficiency and reliability.
- Target KPI: 5-day month-end close. After a short ramp, Springbrook has delivered income statement results by business day 5 for most of the last two years.
- Audits: The previous year’s audit finished ~2 months early vs. lender covenant deadlines; the second audit (current year) was on track.
- Role split: Consero owns the transactional accounting; the internal team handles the front-end contracting and back-end collections in the order-to-cash cycle.
“The benchmark that we set… was optimizing our accounting processes so that we could close in five days… for pretty much most of the last two years, the team has been delivering our accounting processes where we would be able to close and have income statement results on business day five.”
Accelerating M&A and Integration
Consero built Springbook’s finance stack to absorb add-ons quickly and convert to U.S. GAAP where needed.
With a solid financial foundation in place, Springbrook was able to pursue an aggressive growth strategy, completing three acquisitions in two and a half years with Consero’s support.
- Complex Conversions: The Consero team managed difficult accounting conversions for two of the acquisitions, including a cash-to-GAAP conversion and an IFRS-to-GAAP conversion.
- Streamlined Integration: The FaaS model provided a clear process for integrating acquired companies into Springbrook’s tech stack, which is built around Salesforce and Sage Intacct.
- Variable Timelines: Integrations for companies that were already GAAP-compliant were completed rapidly, in about 30 to 60 days. Larger conversions that required more foundational work took approximately 90 to 120 days.
Key Results
- 3 acquisitions in ~2.5 years (2 U.S., 1 international in ANZ).
- 2 of 3 required U.S. GAAP conversions: one cash-to-GAAP, one IFRS-to-GAAP—Consero led the conversion work.
- Timing: GAAP-conversion projects took ~3–4 months.
- A recent carve-out acquisition (already GAAP compliant, ASC 606 in place) moved much faster—started April 1; core GL/AP and related apps were transitioned early.
- Tech map centers on Salesforce.com and Sage Intacct; Consero handled Intacct + related app integrations.
- Consero also reduced hiring pressure, enabled resource upgrades where needed, and kept execution on target.
Strategic Leverage for the CFO
Hale highlighted his ability to transition from a producer of financials to a strategic business partner as one of the most significant benefits of the FaaS model.
By shifting tactical work to Consero, the CFO spends more time on forward-looking, value-creating work.
- Unlocking Time: The efficient 5-day close process is the key enabler, freeing up the CFO for three weeks out of every month to focus on forward-looking initiatives.
- Focus on Growth: This extra time allows for deeper involvement in operations and strategic projects that help realize the CEO’s and investors’ vision for the company.
- Exit Readiness: By architecting the systems and processes correctly from the start, the company is well-prepared to slice and dice data to answer any question a potential future buyer might ask.
“Because we close the books in five days, it means I get to spend three weeks every month focused on the CEO’s initiatives. That’s the real, big win in terms of how and where I’m able to focus.”
Exit Readiness: Data Architecture Built for Diligence
The system design anticipates buyer questions, speeding diligence and enhancing credibility.
- ERP + data attributes are designed to allow drill-down to whatever metrics a potential buyer requests.
- Confidence in answering unknown diligence questions because of how the chart of accounts, product hierarchy, and revenue policies are structured.
“Because of how we architected the system with Consero, we can drill down and address whatever a potential buyer asks.”
When FaaS Makes Sense
Hale advises first-time CFOs to consider FaaS when speed, M&A volume, or a thin internal bench make building in-house impractical.
- Align the decision with the long-term objectives of the investment cycle.
- FaaS is compelling when you’re building from scratch, facing carve-out timelines, or planning multiple add-ons.
- Consero’s core market often mirrors situations in $10M–$250M revenue software & services companies (host context).
“If you’re rebuilding the function and expect rapid growth or M&A, it absolutely makes sense to pull a partner like Consero into the equation.”
Division of Responsibilities: Working with Consero
Clear swimlanes keep the engine running without bottlenecking the CFO.
- Consero: Day-to-day transactional accounting, month-end close, GAAP conversions, audit support, Intacct integrations.
- Internal team: Contracting at the front end and collections at the back end of order-to-cash; CFO focuses on strategy and operations.
“Consero handles the transactional work; my team owns the front-end contracting and back-end collections.”
Build a Scalable Finance Function Today
If you’re navigating a carve-out, preparing for add-ons, or simply need a tighter operating rhythm, Consero’s solutions are built for you.
Our repeatable playbook, proven systems, and specialized talent de-risk execution and accelerate value creation.
Why leaders choose Consero:
- Speed to steady state: Fast, consistent month-end close and audit delivery.
- Transaction-ready operations: Rapid GAAP conversions (cash-to-GAAP, IFRS-to-GAAP) and smooth Sage Intacct integrations, so you can roll up acquisitions without stalling the engine.
- Strategic leverage for leadership: Offload transactional work and win back time, shifting to growth, pricing, pipeline, and board partnerships.
- Talent resilience: Reduce hiring risk, upgrade resources as needs evolve, and keep delivery stable through volatile labor markets.
If you need a finance function that closes fast, audits clean, absorbs acquisitions, and frees leadership to focus on growth, get in touch with Consero.
Bring us your carve-out, your add-on roadmap, or your operational bottlenecks – we’ll bring the playbook, platform, and people to make it scalable.
