Gimmal is a private equity backed records management software company. They were going through a transformation from services to software. This is where their private equity investment came in. Their PE sponsor helped drive that transformation.
With the investment, Gimmal needed to improve their finance function. They selected Consero’s Finance a s a Service model in order to obtain a more efficient and effective finance and accounting function.
Working with Consero gave them access to:
- Sage Intacct as a main general ledger package
- Nexonia for time keeping
- Bill.com for AP automation
- Access to Consero’s SIMPL financial console
Consero made Gimmal’s finance function predictable. On workday 10, the books are closed every month. Every Friday, bills are paid. This level of predictability and stability in the organization is not something all portfolio companies have.
Consero works with many PE-backed companies and are familiar with the reporting requirements. When Gimmal became a client, Consero quickly built the reports and systems they were lacking. That allowed Mark to spend him time on other parts of the business where his strategic expertise was needed.
Consero is able to scale which is why so many PE firms are using it in their playbook. Gimmal leveraged Consero’s infrastructure and highly skilled finance team. The cost advantage was significant and they would not have had those savings without Consero. If Mark were to build this on his own, the systems and people, it would have cost at least 25% more on an annual basis. On top of that, he would have dealt with attrition and personnel issues. With Consero, all of those headaches that go away.
The benefit that Consero brings to private equity firms is both on the buy-side and sell-side. When acquiring companies, PE firms often need the portfolio to have new financial systems so they can get better information on a more timely and consistent basis. Consero is able to do that a lot faster and at a lower cost than if the portfolio was to build it in house.
When they go to sell the company, the PE firm has great financial information. A buyer that is coming in to perform due diligence is going to get through that process much faster. Consero eliminates the friction points that may diminish the value.
With Consero Global by your side, you gain:
- true financial visibility
- increased efficiency and scalability
- significant time and cost savings
- and genuine comfort and confidence
- all guaranteed within 90 days
Really make the most of your recent funding with Consero Global. Contact us to learn more.