Questions answered: how does the Finance as a Service model work?

shutterstock_189045062

 

shutterstock_189045062

Welcome to Consero Global! We are a Finance as a Service (FaaS) partner of many growth companies, as well as CEOs, CFOs, and investors. Why? Accounting and finance cannot deliver those business insights and metrics that leaders of most growing companies need. And because strategic finance is the secret accelerator of high-growth companies, the growth is stalled due to outdated systems, inefficient processes, and the wrong people.

The global markets are highly disruptive, especially those affected by the technological advancements. Growth companies need to respond to every change in the quickest possible manner. To do that, they need clear insights into their financial fundamentals, forward-looking reports, and the best perspective of their performance metrics.

Time to grow

When the economy is strong enough (according to all the indicators) the confidence increases and companies think about growth. On the other hand, the landscape of supply chain and technology solutions has changed during the last decade, and now companies can leverage third parties to support them in their expansion. The outsourcing of areas, such as finance and accounting, is becoming more and more necessary to ensure acceptable profit margins, satisfied customers, and timely delivery.

{{cta(‘b49f66fa-c529-467e-86fc-7c5bbf7cdc4d’,’justifycenter’)}}

Outsourcing concerns

Outsourcing has been around for quite a while. But if a company never sought to outsource before, there is often have a myriad of questions and concerns about outsourcing a new project. Outsourcing can bring success only if built on good communication, integrity, and trust.

Top questions from prospective clients

1. “What will my Consero Global team look like?”

Your Consero Global team will consist of an accounting management team dedicated to you and a VP of Finance with 15-20 years of experience who will oversee the accounting team. Consero will carefully examine your role and business needs, and assign you a team that is built to meet your requirements. Each member of our team is a degreed accountant, while 70% of our employees have a post-graduate degree in accounting.

2. “How do you understand the nuances of my business?”

There are no two businesses that are entirely the same. Consero has proven systems and processes that are universal and can be applied to all businesses. But as each company is unique in its way, we will customize our systems according to your specific needs and requirements.

We work with our clients to define the most optimized process for managing revenue because the revenue model is typically the unique aspect of a business.

3. “How do I know that everything is getting done?”

Consero will work with you during the implementation of our services to identify everything that needs to be done on a daily, weekly, and monthly basis. Next, we will systemize all tasks into workflows and track everything, providing you with total transparency and complete insight into what our team is working on.

Our clients will never feel like they’re “in the dark” as we aim to gain the trust of our clients by showing our expertise, being honest and transparent, and providing the desired results. All this gives our clients more control and visibility that they’d had with their in-house finance and accounting team.

We understand that control is among the primary client concerns regarding outsourcing for accounting. However, technology has evolved to a point where data can be managed and shared with approved team members in real-time.

4. “With you guys doing so much, what will I be working on?”

Well, it all depends on your role and responsibilities in the company.

  • CEO. The CEO of a company is a person who wants to focus on the solutions for driving business growth. CEOs need financial reports as the source of information that will help them bring more informed decisions with more confidence. However, with CEOs being consumed with other aspects of their business, they can’t gain a real understanding of where their company is and where it is going (from a financial standpoint.) Consero can empower CEOs by:
    • Reducing time spent on finance and accounting
    • Increased transparency
    • Complete understanding of your financials
    • Efficient and scalable financial solutions{{cta(‘d470b563-0969-408c-aa3f-cf3f608ebda9′,’justifycenter’)}}

We will simplify your business operations and help your decision-making.

  • CFO. What are the concerns of a growth-company CFO? A Chief Financial Officer’s duty is ensuring the organization is capitalized adequately and helping the company understand financial impacts. They are there to make the most optimal business decisions, but also to work on improving the company’s financial infrastructure that can often be immature. As the company grows, the reporting needs become more complex while operational inefficiencies can slow down the growth. CFOs need complete insight into their companies’ finance, and Consero provides them with everything they need to support them – from integrated, web-based operational software to reliable back office services. That will enable you to focus on the strategic aspects of your CFO role.
  • Investors. With Consero, Private equity investors get a faster and customized way for increasing visibility and improving their operational profitability. Private equity investors struggle to get accurate, timely, and audit-ready financial information. Consero can transform portfolio company finance functions through a combination of innovative workflows and software automation with the help from experienced professionals.

Consero Global can help, and do it in a quality and cost-effective manner, whatever your business needs or role might be.

Growth companies need to have a sound growth strategy as well as an excellent execution plan. It justifies the questions they always ask when considering to hire a third-party to take care of their finance and accounting. Growth companies need effective financial controls to speed their time-to-market and pitch investors more confidently. Greater control can also propel a business to an established firm quickly, as it all comes down to knowing where you stand regarding your plans.

 

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