VC-backed CEO discusses how Finance as a Service drives value in the finance function

Consero visits with longtime client, Corey Gross, CEO of Sensibill, a software and Fintech company. Corey has successfully raised Seed, Series A, and Series B funding across a number of venture funders including: Radical Ventures, Information Venture Partners, First Ascent Ventures, Mistral Venture Partners, Impression Ventures, and Operative Capital.

During the discussion, Corey tells us how Consero’s Finance as a Service model enables him to:

  • Be due diligence ready as Sensibill raised a SEED, Series A, Series B in addition to debt agreements with financial institutions and government grants and loans, all of which required diligence
  • Get experienced CFO advice that helped navigate Board interaction, funding rounds and business fluctuations
  • Have timely and accurate financial reporting that allowed for consistent clean audit opinions and timely investor and bank reporting
  • Access a sophisticated accounting platform including a cloud-based finance & accounting technology stack with workflows and automation to deliver real-time visibility into key financial data

Take a look at why Finance as a Service and a fully managed financial solution could be a fit for you: www.conseroglobal.com

Consero FaaS: Disrupting the Outdated Traditional F&A Model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