Private equity firms embrace Finance as a Service to ensure a swift and smooth due diligence

Updated: February 11, 2021

The Situation

Read Full Case Study

Sound financials are essential to exits, and with a $400 million transaction at stake, mobile banking company Hyperwallet needed to streamline its financials to attract and hold investor attention to close the deal. Before Consero, Hyperwallet suffered from:

  • Frequent turnover in finance function
  • Strategy sidelined for time-consuming daily financial operations
  • Manual financial reports in Excel that demand more analytics

The Consero Solution

Consero’s Finance as a Service (FaaS) enables:

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

The Client’s Results

Greater Business Continuity:

Optimized accounting policies, procedures and process flows boost investor confidence in routine hard closes, freeing executive’s time to focus on the impending transaction. This solution can be kept in place after an exit transaction – and at significant cost savings over an in-house solution.

Timely Financials: Accurate and more-informed due diligence reporting means investor confidence and lightning-fast LOI responses.

Successful Exit: Consero seamlessly supported the sale process of Hyperwallet to PayPal.

Savings: 31% over Hyperwallet’s in-house solution

“With Consero, I was able to focus on the transaction and not worry about getting the financials in order. Their professional finance team and processes inspired confidence for everyone involved in the due diligence process.”

– Christian Fadel, CFO

Hyperwallet

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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
• Business Process and Technology Transformation

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