CFO Challenges CFOs of growth companies need to focus their time on ensuring the organization is adequately capitalized and helping the business understand financial impacts to make optimal business decisions. Unfortunately, most often they also need to improve the immature financial infrastructure of the business to meet more complex reporting needs and ensure that operational inefficiencies don’t become a bottleneck to growth.
The paradigm: Ultimately your value as CFO will be judged on the level of insight and guidance you provide to the business, but your time is regularly consumed addressing the operational needs of the business.
KIMBIA Client Testimonial
KIMBIA provides an online fundraising and crowdfunding platform, plus digital services that are built with one goal in mind: to help customers grow their revenue. Technology should not hinder the donor or participant experience – it should speed and enhance it. Before working with Consero, Phil Murray, VP of Finance & Administration, was challenged with high volume transactions and a limited team with processes and controls that needed improvement. It became time-consuming to moderate processes and work at the transaction level. He was not sure if Consero could take their half-baked processes and run with them. During implementation, they discovered that it took Consero 6-8 weeks to accomplish what would have taken 6-8 months to do on their own. Consero brought better systems, processes, and software that KIMBIA didn’t have the budget or expertise to implement on their own. The result was progress and a streamlined accounting function. Now, Phil has a level of comfort to step out of the accounting function and operate in a more strategic role.
Consero gives you:
- Increased transparency and understanding of your financials
- Reduced time spent on finance & administration
- Scalable and efficient financial operations
Empowering the CFO
Consero provides CFOs with a complete platform of integrated web-based operational software, customizable best-practice based processes and reliable back-office services that serve as a scalable operational foundation for delivering financial support to the CFO and the business.
Why Consero?
People – We effectively manage all your daily financial needs, including payroll, accounts payable, accounts receivable, travel, and entertainment. We provide our clients with improved visibility into their financial operations and greater scalability at a lower cost point than what can be achieved through traditional in-house operations. Our Bookkeeping Services can be customized to meet your needs.
Processes – We establish financial controls to safeguard and monitor revenue and expenditures. Moving to a consolidated financial platform while eliminating paper-based processes will drive immediate benefits for your company including timely reporting and improved receivables in addition to mitigating your fraud probability. Adding proper controls and being vigilant about monitoring your financial statements reduces the chance of your company becoming a victim of fraud.
Technology – We implement our best in breed enterprise accounting software which eliminates the need for using non-integrated solutions like small business financial software or spreadsheets. This single source of truth offers dashboards that give you an at-a-glance understanding of where your business is at – and where it’s going. Every dashboard has a clear financial narrative, so you have information that is immediate and easy to understand.
· “Consero allowed me to implement a scalable financial platform to support our growing operations in dramatically less time than doing it in-house while allowing me to stay focused on other critical objectives.”
· “The change from in-house to outsourcing has transformed the current financial reality and future-outlook for ALPFA. With increased visibility into accounting information and financial changes that led to increased revenue, we are finally on sure footing.”
“Capital is very tight if you are a venture-backed company. When you are new, you may need a general-ledger accountant and AR and AP expertise, but you may not need them full time. And when cash is dear, and you’ve got a full-time head doing a 50% job, it’s painful. Consero can put in a 50% person until you grow into the need for a full-timer. “
“Now when I show up in the morning, I can think about the major initiatives of the business rather than spending time on reporting or checking on the daily operations of my group.”
