PE firm leverages FaaS to quickly build finance teams, get streamlined reporting and enable CFOs to focus on strategy

The Situation

BV Investment Partners is a middle-market private equity firm that invests in tech-enabled and services companies. When they bring an investment into their portfolio, the biggest pain that they need to address:

  • Under-developed finance teams
  • Lack of timely, accurate and up-to-date reporting
  • CFO’s strategy sidelined for time-consuming daily financial operations

The Traditional Solution:

  • Building a finance team with a recruiter was a prolonged process and there was no guarantee that hires would be a success.
  • Updating the unsophisticated finance & accounting systems was a time-consuming implementation taking 9-10 months without confidently knowing if they would get a fully optimized finance function at the end.

The Consero Solution

Consero Finance as a Service (FaaS) provides:

  • Efficient and scalable finance & accounting software and workflows
  • Experienced and on-demand finance team to address fluctuating needs
  • Accurate, timely audit-ready financial reporting
  • Consistent and reliable back-office services including, transaction processing, closing and reporting, to scale as needed

“The big thing that Consero has helped us with is offloading the back-office administrative workflows for our finance teams. That has allowed them to focus on the more strategic things that help grow the business . We have faster and more impactful insights to add value to our portfolio companies.” – Jason Kustka (Principal BV Investment Partners)

The Client’s Results

New Systems: Updated with best-in-breed systems with proven processes mapped to the business within 30-90 days. This improved the quality, efficiency, and cost structure of financial operations.

Quick & Accurate Reporting: SIMPL’s standardized and accurate financial reporting provides a clear financial picture and sharp decision making.

Scalable Team: Finance professionals quickly scale as the portfolio grows.

Repeatable Results: Consero has seamlessly supported 6 BV portcos

Consero FaaS: Disrupting the Outdated Traditional F&A Model

  • 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