Donald McClure, CFO of Pelitas, a healthcare IT company backed by Tritium Partners, shares his experience with Consero’s Finance as a Service (FaaS) model.
When Tritium Partners took over Pelitas, they had a clear goal: to build a professional management team and scale the company. They were looking for a CFO who was more than just a numbers-focused accountant, but rather a strategic partner.
PE Transition & The Strategic CFO Mandate
After Tritium’s majority investment, Pelitas moved from founder-led operations to a professionalized, scalable model.
The founders of Pelitas were previously using cash accounting and QuickBooks, and the new investors needed to professionalize the finance and accounting organization.
Tritium Partners sought a CFO with a strong background in FP&A and corporate development to serve as a strategic sounding board to the CEO and help create enterprise value.
Key takeaways
- Pre-PE: Founder-run, cash accounting in QuickBooks.
- Post-PE thesis: Hire CEO, build professional management, and scale.
- CFO role framed as strategic (FP&A/corp dev focus), not just accounting.
“They didn’t want an ‘accounting CFO,’ but a strategic partner to the CEO focused on creating enterprise value,” said McClure.
The Value of Consero’s Finance as a Service
Implementing Consero’s FaaS model was a key part of the new management strategy.
Consero was already operating Pelitas’ finance stack before McClure joined, providing significant value to Pelitas and allowing Donald to focus on strategic initiatives rather than day-to-day tasks.
Consero’s service handles the routine finance and accounting work, including managing accounts payable, handling collections, and closing the books.
“Books were closing, invoices went out, cash was collected, and reports came out on a defined process that worked,” said McClure.
Key takeaways
- Fully outsourced finance and accounting via Consero.
- Invoicing, collections, close, and reporting running smoothly.
- Consero’s VP of Finance functioned as a fractional CFO partner to the CEO.
Strategic Initiative Enablement with FaaS
Outsourcing the back-office functions to Consero let Donald immediately focus on the most pressing strategic needs of the company while minimizing people management overhead.
“Not having to build and manage a full internal team lets me focus on reviewing numbers and supporting the CEO on value-add work,” said McClure.
One of his first tasks was to address the company’s capital structure and a problematic covenant package by working with the bank to refinance or restructure the debt.
He also focused on building operating metrics and key performance indicators (KPIs) for the company, which did not previously exist.
Key takeaways
- No hiring/training/firing burden; minimal performance management.
- Consero’s support enabled focus beyond the close.
- Built department-level operating metrics from the ground up.
- Weekly reviews to see what’s happening in the business.
- Shift from basic accounting to performance visibility.
Audit & Lender Diligence: “It Just Works”
Consero handles the bulk of audit and diligence requests end-to-end, managing the annual audit process with external auditors, handling all requests for information and supplying materials.
“I really barely have to do anything; I get asked a couple of questions along the way, but our team at Consero works directly with the auditors… and they produce the audit without really much for me at all.”
Key takeaways
- Annual audit: Consero interfaces directly with auditors; CFO answers only a few questions.
- Debt refinanced once; Consero managed diligence checklists and data requests.
- Deliverables are consistent and high quality.
Cost–Benefit & Stage Fit
For a ~50-employee company, fractional expertise across the stack is more economical than full-time hires.
“We’re about 50 employees; I get fractions of the roles I need—controller, VP finance, AP, etc. without paying for all full-time seats,” said McClure.
Key takeaways
- Cost-effective relative to building a full internal org (benefits, overhead, leadership layers).
- Access to fractional Controller/VP Finance plus processing teams.
- Dollars saved on G&A can be redirected to growth.
Implementation Speed & “Back Office in a Box”
Consero’s packaged processes enabled a fast start with room to customize.
Key takeaways
- 45-day implementation: Consero live 45 days after Tritium bought the company
- Comes “out of the box” with accounting system, AP, expense reporting, and processes.
- Customizable to Pelitas’ unique needs; no need to select and integrate a tech stack from scratch.
Advice to Other CFOs
For other CFOs considering a partnership with Consero, Donald’s advice is clear.
“Go for it—Consero brings the processes, systems, and team so you can focus on the strategic work your CEO wants.”
- Especially compelling when starting from little or no finance infrastructure.
- Lets CFOs focus on strategy and enterprise value rather than the mechanics of close and payables.
Freedom to Focus on What Matters
For investor-backed CFOs like McClure, Consero provides unmatched speed of implementation with an all-in-one solution.
We provide the accounting system, accounts payable, and expense reporting process that allow a CFO to focus on strategic, value-added tasks rather than the administrative burdens of hiring, training, and managing a team.
Free your time for true enterprise-value work. Schedule a call and we’ll map a tailored solution in 30 minutes or less.
