Economic Downturn: Tech & Trends

The Critical Role of Finance as a Service (FaaS) in Today’s Finance and Accounting Marketplace

New data underscores the critical role that outsourcing plays in the overall finance and accounting market today. The global market for finance and accounting outsourcing — also sometimes referred to as Finance as a Service (FaaS) – in 2020 was estimated at $37.9 billion. This is projected to grow to $53.4 billion by 2026, growing at a CAGR of 5.9% over this time. (globalnewswire.com)

Finance is now the second most outsourced function among corporations, behind IT and ahead of payroll and customer service, with 44% of businesses outsourcing the finance function. (moneytransfers.com)

The global economic crisis is one factor in the increased demand for Faas. Growing demand for cost savings, digital transformation, more transparency and increased regulations are driving companies to standardize their finance and accounting activities. This move toward standardization is also driving the incorporation of financial management best practices, which is a key factor in the adoption of Faas.

To learn more about Consero and the benefits of using the Finance as a Service model, you can request an introduction here: https://conseroglobal.com/request-a-consultation/

Multi-location healthcare company needed an efficient way to integrate roll-ups and integrity in the financials to prepare for exit

Client Background:

Executive team at a multi-location healthcare company was looking for a more efficient way to manage the finance function. The existing small finance team, led by the COO, lacked the tools to get a consolidated P&L and clinic-level P&L at the click of a button. Management reporting needed significant improvement. The COO had a dual CFO role, and his goal was to reduce costs and get a more professional set of finance & accounting skills with better management reporting deliverables to prepare for roll-up acquisitions and their potential exit in 2 to 3 years

Challenges They Faced:

  • Working in QuickBooks and Excel led to clunky manual processes with 20+ tab worksheets linked together to get consolidated P&L and clinic P&L
  • Operational reporting came out of multiple transactional systems, which required manual reconciliation to ensure revenue reporting rolled up correctly
  • COO/CFO faced the complexity of being bogged down with how to re-engineer the finance & accounting function
  • The back-office finance & accounting function was not operating efficiently
  • Did not have a plan to efficiently roll up acquisitions
  • Had a business continuity risk with a shortage of skilled finance and accounting staff and an ineffective in-house finance and accounting approach

The Consero Solutions

Consero’s Finance as a Service:

  • 30-day implementation of a pre-integrated and cloud-based finance & accounting technology stack with workflows and automation to deliver real-time visibility into key financial data
  • Delivered reliable back-office services: efficient transaction processing, 10-day month-end close with accurate, timely and audit-ready reporting
  • Accounting systems expertise to automate and professionalize reporting: consolidated financials and cliniclevel P&Ls
  • A cost-effective and long-term finance & accounting solution that will scale as the business opens new locations

Challenges They Faced:

  • Working in QuickBooks and Excel led to clunky manual processes with 20+ tab worksheets linked together to get consolidated P&L and clinic P&L
  • Operational reporting came out of multiple transactional systems, which required manual reconciliation to ensure revenue reporting rolled up correctly
  • COO/CFO faced the complexity of being bogged down with how to re-engineer the finance & accounting function
  • The back-office finance & accounting function was not operating efficiently
  • Did not have a plan to efficiently roll up acquisitions
  • Had a business continuity risk with a shortage of skilled finance and accounting staff and an ineffective in-house finance and accounting approach

Results

Optimized Systems & Processes:

Optimized finance function in 30 days with best of breed financial, accounting, invoicing and expense software.

Increased Capacity: Consero took over all the responsibility under the CFO and Controller roles which gave the COO more time to focus on strategically impactful projects such as roll-ups vs. tactical implementation of technology & processes.

Improved Reporting and Data: Timely, audit-ready financials with automated reporting to reflect consolidated P&L and cliniclevel P&Ls enabled leadership to execute on a fast diligence and a smooth exit.

Roll-Up Ready: Consero’s reliable team of finance & accounting professionals provide expertise in supporting multilocation services-based businesses and roll-up acquisitions.

Automated Reconciliation: Established is a three-way reconciliation process between ops system, merchant processor and bank account which resulted in Consero discovering & addressing a $25,000 revenue leakage each month.

34% Cost Savings: Virtual & skilled finance team along with a sophisticated software stack and efficient processes drove a 26% cost savings in year 1 and 34% savings in year 2 (and going forward) compared to building and maintaining an in-house finance & accounting function

 

Ok2Charge Leverages Consero’s Finance as a Service

Knowledge Bites: Client discussion with Eric Broughton, CEO of OK2Charge

During the discussion, Eric Broughton expressed why he chose to continue to use Finance as a Service as a repeat client.

The discussion also expresses how Consero provided:

  • A scalable platform that allows for easy access to business KPIs
  • Fully trained staff to manage back-office activities and day-to-day transactional accounting that will allow OK2Charge to grow
  • Well-documented processes that allow for audit and due diligence readiness

To learn more, visit: https://conseroglobal.com/

C-Suite Roundtable with Consero: A Recession Playbook for Managing Finances & Operations

As the global economy faces uncertainty and the possibility of a recession, it’s essential for C-Suite executives to have a clear plan for managing finances and operations. Watch the on-demand C-Suite Roundtable: A Recession Playbook for Managing Finances and Operations where the executive panel shares practical strategies and insights on how to navigate these challenging times. You will learn about:
  • Key financial metrics to track during a recession
  • Best practices for reducing operational costs and maximizing efficiency
  • Strategies for securing funding and maintaining cash flow
  • The role of technology in enabling resilience and agility
Moderated by Consero Private Equity Director Tony Esposito, the panel includes the following C-Suite executives:
  1. John Araki, CFO of RecoveryOne https://www.linkedin.com/in/john-arak…
  2. Craig Fryar, COO of BankingON https://www.linkedin.com/in/craigfryar/
  3. Raj Lakhani, CFO of CORE https://www.linkedin.com/in/raj-lakhani/
To learn more about how Consero’s Finance as a Service solution can help you manage through turbulent times, request a 30-minute intro today: Request a Consultation
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Recession Survival Guide – Remember L.I.K.E. as You Plan for an Economic Slowdown

Depending on which economic forecaster you’re listening to, a recession or economic slowdown in the U.S. is probably likely sometime this year. Therefore, now is the time to start planning for how your company will prepare for whatever economic conditions arise.

Consero recently spoke with Kurt Ostermiller, an executive coach who specializes in working with CFOs and CEOs, about how executives can best prepare their companies for a recession or economic slowdown. Ostermiller was interviewed by Consero’s Bridget Howard in the “Beer with a CFO” video series where he stated, “It’s important to recognize that recessions are part of the normal business cycle”. “Many fortunes have been made during recessions, but you have to prepare ahead of time for how your company will weather the storm.”

Ostermiller uses the acronym L.I.K.E to describe how he believes CFOs and CEOs should prepare for recession. This stands for Leadership, Internal, King and External.

Leadership: Projecting a Positive Mindset

Ostermiller quotes leadership guru John Maxwell, who said that everything rises and falls on leadership. “Entering a recession or economic slowdown, employees look to the C-suite for leadership and direction,” he said. “The CEO and CFO need to project a positive mindset and an attitude that the company is going to make it through no matter what so this attitude can cascade throughout the organization.”

You’re probably familiar with the concept of “fight or flight” in which people either fight or run away when facing threatening circumstances. Ostermiller says there’s one more option that’s worse than either: inaction or freezing up and doing nothing. “Leaders can’t become paralyzed during times like this,” he said. “You have to be decisive and then make adjustments to your strategy as circumstances dictate.”

Or another way to put it: Act decisively even if you have imperfect information. “Face the facts with no denial, devise a strategy and move forward,” said Ostermiller.

Internal: Communication is Critical

Internal communication between leadership and staff is absolutely critical during recessionary times. “So is communication between the CEO and the CFO,” said Ostermiller. “This is actually one of the biggest problems I see at companies. The CEO and CFO must be aligned with each other and present a united message to the rest of the company.”

The board of directors is also part of the internal audience. “Most boards operate ‘noses in and fingers out,’” said Ostermiller. “But during times like this, boards need to be accessible and maybe a little more hands-on.” He recommends that businesses create a dedicated communication portal for board members to enable instant communication between them and executives. “Events are going to happen quickly and decisions have to be made fast,” he said.

King: As in Cash

Having a strong cash flow is always important, but it’s absolutely crucial during a recession. “We all know that Cash is King,” said Ostermiller. “Cash flow is vital to ensuring the survival of a business during recessionary times. You need to extend the runway and reduce the burn rate through cash flow analysis, rolling forecasts and scenario building.”

Ostermiller cautions against making cost cuts that could harm employee morale, like cancelling Christmas parties or employee lunches. “How much money do cuts like these really save in comparison to the damage to employee morale?” he said.

External: Customers and Supply Chains

There are two external audiences that CEOs and CFOs should pay especially close attention to during recessionary times. The first, obviously, is customers. “This is the perfect time to get out and visit your customers and talk about what’s going on in their business,” said Ostermiller.

The good news is that video technology like Zoom makes meeting with customers fast and easy now. “You can meet with customers all over the world in a matter of hours without leaving your office,” said Ostermiller. “Take advantage of this technology to have honest conversations with customers about their cash flow, markets and other aspects of their business.”

The second is supply chains. “You need to identify any potential risks in your supply chains,” said Ostermiller. “Everybody is going to buckle down during a recession so you don’t want to end up getting stuck in the middle.”

Harness Technology, Including FaaS

Ostermiller also stressed the importance of harnessing technology during recessionary times to speed up the flow of information and allow data to be shared in real time. This includes using Finances as a Service, or FaaS, to outsource the CFO and/or finance and accounting function.

Consero Global offers Finance as a Service for middle-market businesses across a wide range of industries. To learn more about how FaaS can help your company prepare for a recession or economic slowdown, visit us online and where you can schedule a complimentary introduction and consultation.

 

 

 

 

M&A Growth Considerations: Challenges with Carve-Outs and Roll-Ups

Chris Hartenstein, VP of Client Solutions, talks with us about carve-outs and roll-ups, which are two common strategies used in the corporate M&A world. Following is a closeup look at these strategies, including some of the challenges associated with each.

Carve Out: Divesting a Business Line

In a carve-out, a larger company will spin off or divest a line of business out of the existing company typically to become its own new entity.

The carve-out separates completely from the parent company and becomes its own standalone entity. As a result, new company will have to set up its own finance and accounting system so that it can provide financial statements to its new board of directors.

The new entity will typically sign a Temporary Services Agreement (or TSA) with the parent company (or seller) with a defined timeline that’s usually between four and six months. During this time, the parent company agrees to continue to provide finance, accounting and administrative support while the new entity sets up it’s own finance and accounting system.

These new spinoffs face a number of challenges that need to be solved very quickly due to the limited among of time the parent has agreed to support them. These challenges include the following:

  • They must start from scratch with everything this includes recruiting and on-boarding a completely new finance and accounting team selecting and negotiating software agreements for a new ERP, T&E package and any other F&A software that may be needed developing new process and procedure documents for operations, invoicing, AP, payroll and creating reporting and KPI packages
  • The team that is hired probably hasn’t implemented new systems more than a few times in their career and necessitates the hiring of outside consultants to assist with software implementation
  • Internal implementation will take between six months and one year, which may be longer than the TSA lasts.
  • The new entity may be unable to provide basic financial reports on a timely basis.
  • It can be difficult to obtain starting balances and other support (e.g., trial balances, AP and AR, and accrual and prepaid details).

Keep in mind that once the carve-out deal is closed, the seller will not place a priority on providing financial information to the new entity. It becomes “out of sight, out of mind.” Therefore, it’s usually smart to try and negotiate a holdback of some of the purchase price until the transition is complete and all of the financial information and support has been provided.

Roll-up: Acquiring and Merging Similar Businesses

In a roll-up play, a private equity firm acquires multiple small companies that offer similar types of services and have similar revenue streams and merges them together. This allows the firm tobuild economies of scale through a single brand supported by shared sales, marketing and operations to increase the value of the whole.

The acquired companies are usually smaller businesses that sometimes don’t place great value on high-level finance and accounting support. As a result, the accounting team skillsets are often lacking at the companies. There may also be turnover risk at the acquired businesses if employees don’t want to stick around after the acquisition.

Companies may face a number of challenges when performing a roll-up, including the following:

  • Just like with a carve-out, companies have to start from scratch with everything.
  • The staff at the acquired businesses sometimes lack high-level accounting knowledge and experience.
  • Similar to a carve-out, internal implementation will usually take between six months and one year and the new entity may be unable to provide basic financial reports on a timely basis.
  • The acquired small businesses typically use cash basis accounting requiring additional work to move them to accrual/GAAP accounting

Before adding a roll-up, be aware that you may need to convert from cash basis to accrual basis or GAAP accounting. Also be prepared for difficulty in obtain starting balances and other support due to the cash basis accounting. Sometimes the individual businesses and the private equity firm may not be on the same page as it relates to the structure, processes and procedures and reporting.

Both carve-outs and roll-ups will require their own implementation including:

  • Software setup (e.g. Intacct, Nexonia, BILL)
  • Entering prior period data, vendors and employees
  • Training acquired businesses on processes and procedures
  • Setting up consolidations

How Consero Can Help

Consero can help your business with a carve-out or roll-up. We have a set of best practice processes and workflows and dedicated implementation to support the transfer and setup, along with a predetermined integrated tech stack.

We can complete the implementation of a carve-out in a 30 to 90-day timeframe and a roll-up in a 30-day timeframe. This allows CFOs to focus on strategic issues and further acquisition targets. Connect with us to learn more about how Consero’s Finance as a Service solution can help your investment firm and your portfolio companies: https://conseroglobal.com/request-a-consultation/

 

 

 

 

 

Cost Containment Strategies During an Economic Downturn

In the current uncertain economic environment in which some economists are predicting an economic slowdown or even recession, it’s important for CFOs to carefully evaluate cost containment.

Consero recently hosted a virtual CFO Roundtable in which several CFOs discussed how they are doing this. Participating in the panel were Steve Isom, CFO of Bloomerang, a vertical SAS company; Jessica Hamilton, the CFO/COO of ActiveProspect, a marketing technology company; and David Dolmanet, the CFO of BryComm, a supplier to the commercial construction industry.

Preparing for a Downturn

In response to the question, “How can CFOs prepare for and predict the impact of a potential downturn?,” Steve Isom stated that “the era of free money is over and with it the mindset of growth at all cost. This doesn’t mean growth isn’t important, but efficient and durable growth is critical.”

Isom noted that there’s a lot of talk about softness in the market and negative signals. “I encourage CFOs to look closely at their own demand signals and understand what’s happening in their business,” he said. “For example, we manage and monitor top-of-funnel metrics daily to stay on top of what’s happening. It’s the old saying: Plan for the best but expect the worst.”

Scenario planning will be critical in 2023, said Isom. “You need to have a good handle on what happens if your business doesn’t hold up well in 2023,” he said. Isom cautioned against cutting too much. “Keep a firm handle on your own demand signals and keep an eye on macro trends.”

Balancing Growth and Investing in Operations

Jessica Hamilton was asked about how she sees the grow-at-all-cost strategy evolving and finding the right balance between growth and investing in operations. “Finding this balance is more important now than ever,” she said. “For us, it’s the balance between growing and investing capital in sales and marketing and product engineering.”

ActiveProspect has always operated with the Rule of 40 in mind, said Hamilton. The Rule of 40 is an indicator of the balance between revenue growth and profitability. It states that a company’s combined growth rate and profit margin should not exceed 40%. This helps ensure capital efficient growth and wise spending.

“When we have to cut back on some investment initiatives, we’re prepared,” Hamilton said. “We’re not cutting all the way back to hit the Rule of 40. Our plan for 2023 is Rule of 31 — we’re not comfortable making any more cuts than this.”

Lowering the Cost of Debt

In response to the question “How do you lower expenses when cost of debt is increasing each quarter?,” David Dolmanet noted that many people on his team have only experienced an economic environment in which interest rates have been at or near zero.

“In this environment you don’t have to make decisions regarding the time value of money,” he said. “Since our interest expense has more than doubled, I now manage my cash position much tighter in managing my line of credit balance. If I continue to use the line of credit while maintaining a high cash balance, we’re paying significantly more in interest than we were before.”

Dolmanet added that the company is trying to manage its line of credit and inventory more tightly and focus more on its cash cycle than it would during a grow-at-all-cost environment.

Winning the Talent and Wage Wars

Talent is one of the biggest costs companies face today and it isn’t going down anytime soon. Hamilton talked about her company’s strategy when it comes to hiring and retaining top talent.

“We decided we weren’t going to engage in the ‘wage wars’ when salaries started going up extraordinarily and lost a few employees who left for higher pay,” she said. “But we had done succession planning and had built a strong bench.”

The company took a hard look at the benefits and perks employees valued, eliminating perks they didn’t place value on and replacing them with perks they did value. “Happy hours and virtual games that were popular coming out of the pandemic were no longer valued,” she said. “What our employees do value is workplace flexibility and career development so we focus on these.” For example, the company is now 100 percent remote.

Isom said Bloomerang is focusing on high-impact employee perks. “Since we’re in the non-profit space, we gave each employee $100 to donate to the nonprofit of their choice on Giving Tuesday,” he said. “The amount of uplift we got from this really paid off for us.”

Dolmanet said that the tight labor market and rising inflation have made compensation strategies challenging. “Employees expect raises to keep pace with inflation,” he said. “We are focused on taking care of the employees who have the greatest impact on the business.” The company is also using variable compensation to grow overall compensation for more employees and recognize their contributions to the success of the company.

Outsourcing the Finance Function

In the current economic environment, some CFOs are considering outsourcing functions they might not have outsourced before, including all or part of the finance function. Isom says this depends on the specific circumstances of each company.

“One of the good things about outsourcing finance is that you can pick and choose which functions you outsource and which ones you keep in house,” he said. “For example, we kept FP&A in house and outsourced day-to-day accounting. This was a good balance for us.”

Consero Global offers outsourcing of the finance function via Finance as a Service (FaaS). To learn more about FaaS and how it can help you manage costs during an economic downturn, connect with us at https://conseroglobal.com/request-a-consultation/

 

Meeting the Digital Transformation Challenge in Today’s Challenging Economic Environment

Many CFOs and finance managers are currently facing the most challenging economic environment they’ve ever encountered. Near-record inflation is putting pressure on corporations to cut costs and some economists are predicting a recession in the upcoming year.

These challenges could make it harder for finance professionals to lead digital transformation efforts at their companies. In an environment like the one we’re in now, CFOs will have to focus on strategic decision making in order to shepherd digital transformation initiatives through their organizations.

Accelerating Digital Transformation

While the current environment certainly makes digital transformation efforts more challenging, nearly half (49%) of CFOs who responded to the most recent PwC Pulse Survey said they plan to capitalize on digital transformation initiatives, which they consider to be a high-growth opportunity that has exploded following the pandemic.

In addition, the Global CFO Survey 2022 by Everest Group found that digital transformation is moving higher up the priority lists of CFOs. Judgement-intensive investments, including financial planning and analysis (FP&A), are especially high on CFOs’ priority lists.

However, four out of 10 respondents to the KPMG 2022 CEO Outlook survey said that while digital transformation is still a priority, their organizations have currently paused their digital transformation strategies. And more than a third (36%) said they plan to pause these strategies in the next six months due to economic uncertainty and recession fears.

Acquiring the Right Technology

The first step to leading digital transformation in the current environment is to assess your company’s competitive priorities and differentiating factors. Then you can identify and acquire the right technology for your organization’s digital transformation. For many organizations, this includes FP&A, financial modeling and scenario planning tools.

If your digital transformation budget is tight due to recession or other financial challenges, consider initiating smaller projects that can demonstrate faster ROI than larger long-term initiatives like ERP and ERM projects. It can take years and long demo periods to gauge ROI on projects like these, which can make them easy targets for budgets cuts when finances get tight.

In contrast, smaller, best-of-breed digital solutions can usually demonstrate ROI much sooner. For example, an FP&A tool might cost $10,000 a year and yield positive ROI right out of the gate.

During challenging financial times, CFOs often have to work harder to cost-justify expenditures, including those for digital transformation initiatives. They can’t just make investments like these because “everybody else is doing it.” Instead, companies expect accountability when it comes to what benefits they can realize from digital transformation initiatives.

FaaS and Digital Transformation

Recessions and economic slowdowns often present opportunities for businesses to invest in digital technologies that improve current financial processes, lower costs and boost efficiency. Finance as a Service, or FaaS, is one good example.

FaaS is a modern alternative to building an in-house finance and accounting team that delivers greater financial visibility and improved operational scalability, along with a lower and more predictable cost structure. With FaaS, companies can achieve a full digital transformation by outsourcing their finance and accounting function to a third-party service provider.

In fact, finance is the second most outsourced function among corporations — nearly half (44%) of businesses say they outsource their finance function.

With FaaS, businesses enjoy scalability and cost efficiencies when compared to maintaining an in-house finance team. Studies have shown than using FaaS can lower the cost of the finance function by between 20% and 40% compared to the fully loaded costs associated with staffing an internal finance department.

The FaaS model allows companies to quickly scale up the finance function as needs arise. This results in both time and cost savings, as well as standardized reporting so companies can quickly and accurately assess the financial health of their portfolios and consistently understand financial metrics across time periods.

FaaS also allows CFOs to focus on more impactful business initiatives while reducing the cost and complexity of maintaining an in-house finance operation. Employees can reallocate their time from administrative finance functions to high-impact business development initiatives. Meanwhile, companies can reduce staffing and technology costs in the finance department, instead paying an affordable monthly fee.

FaaS from Consero Global

Consero Global offers Finance as a Service that can help you achieve your digital transformation goals. You can connect with us today at https://conseroglobal.com/request-a-consultation/ and learn more about the potential role of FaaS in your company’s digital transformation.

 

Meet the Talent Challenge with Finance as a Service (FaaS)

The worker shortage that began during the COVID-19 pandemic is starting to ease up in some industries, but it remains a challenge in accounting and finance. In a survey recently conducted by Robert Half, nearly nine out of 10 (87%) managers at U.S. companies said they are finding it increasingly difficult to find talent to fill general accounting, financial reporting and financial planning and analysis positions.

This shortage of financial and accounting talent is affecting all size companies across many different industries. Small and privately held businesses, however, are especially feeling the pinch.

Statistics Illuminate the Problem

A recent article in The Wall Street Journal pointed to more statistics illuminating the talent shortage in finance and accounting. There were 36,540 more postings for accounting and audit jobs in the U.S. in 2022 (through November 30) than there were the prior year. This was the highest number of accounting and audit job postings (177,880) since 2008.

In addition, employees started just 113,400 of these jobs (through November 30), which was down 16% from the prior year. It’s now taking 56 days on average to fill accounting and audit jobs, which is up 10 days from the prior year.

The article pointed to several possible reasons for the financial and accounting talent shortage. For starters, fewer young people today are pursuing college degrees in finance and accounting. The number of students in the U.S. who completed accounting degrees during the 2019-2020 academic year fell by 2.8% for bachelor’s degrees and 8.4% for master’s degrees compared to the prior year, according to the AICPA.

There is often a lack of awareness among young people about career opportunities in audit and accounting, noted an AICPA spokesperson. The organization is actively working to raise awareness about the profession among middle-school and high-school students. Meanwhile, demand for accounting and finance employees is expected to remain strong in the near-term future.

Outsource Finance and Accounting Using FaaS

To attract and retain accounting and finance employees, many companies are offering higher starting salaries, more frequent salary increases and faster promotion opportunities. But there’s another solution to the financial and accounting talent shortage: Outsourcing the finance and accounting function to a third-party service provider.

Sometimes referred to as Finance as a Service, or FaaS, this approach gives companies a full suite of staff, services and software that’s capable of managing the entire finance and accounting operation. This includes processing transactions and customer payments, paying vendors and producing monthly financials and more. It is very typical for a FaaS solution to lower the cost of a finance function compared the traditional “build it in-house” approach. Many customers experience a 20-40% reduction in the cost of their finance function.

In other words, FaaS is a one-stop financial and accounting services shop. The FaaS provider will have its own staff and software platform, so the customer does not have to bear the burden of staffing issues or software upgrades.

FaaS also features transparent pricing so it’s easy to forecast what costs will be as the company’s needs change in the future. A FaaS provider charges based on headcount and services offered, not by the hour or based on the level of staff assigned to the client. This way, companies know exactly what they’re paying for and how their costs will rise or fall as they scale up or down.

With FaaS, companies have access to skilled finance and accounting professionals with the right level of expertise for their specific needs. For example, sometimes businesses need a higher level of strategic expertise, like when performing acquisitions and onboarding new entities. With FaaS, businesses pay for this higher level of service only when they need it.

FaaS: A Creative Solution

Incorporating the FaaS model is one creative way middle-market corporations can meet the challenge of today’s financial and accounting talent shortage. It will also relieve finance and accounting managers of the time-consuming and expensive task of interviewing, hiring and training potential new employees and retaining them once they’re on board. This will free managers up to spend more time doing strategic, value-added work for your company.

Consero Global offers Finance as a Service for middle-market businesses across a wide range of industries. To learn more about FaaS and how it can help you overcome the challenges of the talent shortage, connect with us today: https://conseroglobal.com/request-a-consultation/

CFO Roundtable – Managing OpEx During Economic Downturn

Surviving and even thriving in times of economic uncertainty may seem like a lofty challenge. However, there are certain metrics and prompt actions executives can take to manage operational expenses and prepare for an economic downturn.

In this virtual roundtable, you’ll hear from a panel of CFOs experienced in the software, IT services and telecommunication industry:

David Dolmanet, CFO of BryComm
Jessica Hamilton, CFO of Active Prospect
Steve Isom, CFO of Bloomerang

Learn how Finance as a Service can transform your organization and: Unify and clarify your numbers and processes

– Reduce the time you spend on the finance function by 90%

– Alleviate the need to hire and train finance & accounting staff

– Get an enterprise-level and accelerated finance function within as little as 30-90 days

– Enable growth as a driving force behind your business’s momentum and profitability

Let’s discuss how Consero can help your company, contact us here:

Request a Consultation

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