Lack of scalability will hinder your business growth

Updated: October 26, 2021

You have survived and thrived as a startup. You have customers and a healthy balance sheet. Does your business have the potential to multiply revenue with minimal incremental cost?

Lack of scalability can hinder your business growth. The challenge of a scaling company is the number of increasing transactions which need more complex financial oversight. Not having the right foundation in place to facilitate an effective workflow is like turning on a fire hydrant without connecting the hose — no one knows what’s going on and it’s flooding.

Some of the ways finance departments limit the scalability of companies is: process inefficiency, lack of clear information and inadequate controls.

4 tips to make sure you have scalability in your operations:

• Make sure you have the right skillsets on their team for different situations that arise
• Implement efficient processes that bring best practices from their industry
• Capture information in a way that you can report on the back end
• Have systems that are integrated and don’t require manual data manipulation and maintenance of data across different systems.

In this video Bill Klein, President of Consero, discusses how to avoid the most dangerous pitfalls and problems that arise when you are trying to get your company on a more scalable operational platform.

Related Resources

Private Equity

Achieving a Higher Standard for the Finance Function Amid COVID-19

The standards still apply COVID-19 might feel like a reason to suspend the usual priorities, but now more than ever, the finance function at portfolio ...
What is The Importance of Accurate and Timely Financial Reporting for Saas Companies?
ArticleReporting

Why is Accurate and Timely Financial Reporting Important for SaaS Companies?

Financial analysis and reporting provide valuable insight, enabling companies to stay compliant while making more efficient decisions about their income or expenditure-focused initiatives. Evidence-based reporting ...
How do I find a great outsourced finance as a service provider
CEO / CFO

How do I find a great outsourced finance as a service provider

Outsourcing finance and accounting to a third-party service provider is advisable for any company that has gaps in their in-house finance and accounting department. An ...
Back Office Holding Back 3
CEO / CFO

How Do CFO’s Drive Value?

This blog post was written by Scott Tynes and originally appeared in the Austin Technology Council Blog, entitled Scott Tynes’ Recap of CFO Dinner Introduction ...
Woman in red shirt sitting at desk
ArticleAudits & Due Diligence

How to Be Audit and Due Diligence Ready at All Times

Three steps to take early to position your company for a successful exit.
CFO
Private Equity

Why CFOs struggle to measure risk

Organizational change is a primary driver of growth in business, but it’s also considered among the riskiest propositions in the executive playbook. According to the ...

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

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