Home

Quick Links

Legal & Sitemap

navigation
Home > Services > Consulting > Outsourced Finance & Accounting > Interim Financial Management for Silicon Valley Technology Companies

Interim Financial Management

Overview

As of June 1st, The Brenner Group® was added to Armanino to deepen and broaden our finance and accounting offerings for our clients. Armanino provides interim finance and accounting professionals who work as members of our high-technology client management teams. We have Chief Financial Officers (CFO) and Controllers who work part-time or full-time to provide total finance and accounting guidance for client companies.

Our professionals come with experience across all of the leading technology sectors, including enterprise software, consumer Internet, e-commerce, clean tech, IT, telecommunications, life sciences, and semiconductors. We can also provide executive search and recruiting services for direct hire placements.

 

Part-time or full-time CFOs and controllers

Armanino specializes in providing part-time or full-time CFOs and controllers. We manage day-to-day back office functions such as accounting, payroll, planning, purchasing, human resources, and facilities management. We are routinely involved with special projects such as audit coordination, FAS 123R/ASC 718 compliance, revenue recognition, public filings, tax issues, due diligence, and the selection and implementation of management information systems.

Finance and accounting leadership for emerging growth companies

For our venture capital-backed technology clients, we provide an economical accounting and financial infrastructure designed to manage cash and accommodate growth. We routinely guide entrepreneurial management teams through the nuances of angel and institutional equity financing, as well as various debt financing structures. Our CFOs and Controllers create and present custom financial reporting packages for management, boards of directors, and venture capital investors.

CFOs and Controllers for VC and Private Equity firms

Armanino's team of CFOs and Controllers also includes professionals with experience managing accounting and finance operations for venture capital and private equity firms themselves, in addition to their portfolio companies. These services include the complex accounting, portfolio valuations, and reporting associated with fund accounting. If you are a VC or PE firm who needs an outsourced solution for your back office, please contact us.

What can a CFO do for your firm?

Raising money, managing cash, dealing with the board...there are at least 10 good reasons for a part-time CFO.

San Francisco bay area experience

Armanino has served Silicon Valley technology and venture capital-backed companies since 1987. If you need an experienced CFO, VP Finance, or Controller, we want to be your solution for interim accounting and financial management.

CFO

Armanino is Silicon Valley's oldest and largest provider of interim and part-time Chief Financial Officers (CFOs) for venture capital-backed technology companies. The firm's Accounting and Finance Group provides temporary CFOs who work as senior members of each client's management team.

We have served Silicon Valley technology and VC-backed companies for more than 25 years at every stage and across every major sector. If you need an experienced interim CFO, Armanino is the preferred solution whether it's for 5 days a week or 5 hours a month.

 

Interim CFOs with experience at every technology stage

For emerging technology growth companies, our CFOs provide accounting and financial guidance and essential infrastructure designed to manage resources, preserve cash, and accommodate growth. And for later stage private companies, our CFOs have the necessary finance and operating experience to deal with the challenges that come with more mature ventures, including restructurings, reorganizations, and restarts. Additionally, most of our CFOs have public company backgrounds and all are fluent with the CFO's fiduciary role within a venture capital backed technology company.

Temporary CFOs for every finance and accounting task

Our CFOs create and present custom financial reporting packages for management, boards of directors, and venture capital investors. They can also drive day-to-day functions such as accounting, planning, purchasing, human resources, and facilities management so the CEO and core team can focus on technology and business development. They frequently manage special projects such as negotiating bank or venture debt, audit coordination, IRC 409a valuations, FAS 123R/ASC 718 implementation, revenue recognition, public filings, tax issues, due diligence, and the selection and implementation of management information systems.

Outsourced CFOs from every major technology sector

Armanino's CFOs comfortably serve every key technology sector including enterprise software, clean tech, IT, telecommunications, Web 2.0, life sciences, and semiconductors. Our CFOs have extensive exposure to multiple verticals and appreciate the accounting and finance particulars of each sector. Critical to their success is their routine tracking of FASB, GAAP, IRS, and other regulatory guidance that affects each sector.

What can a CFO do for your firm?

Raising money, managing cash, dealing with the board...there are at least 10 good reasons for a part-time CFO.

CFOs for Venture Capital and Private Equity firms

Armanino's team of CFOs also includes professionals with experience managing accounting and finance operations for venture capital and private equity firms themselves, in addition to their portfolio companies. These services include the complex accounting and reporting associated with fund accounting. If you are a VC or PE firm who needs an outsourced solution for your back office, please contact us.

Controller

Armanino is Silicon Valley's oldest and largest provider of interim and part-time Controllers for venture capital-backed technology companies. The firm's Accounting and Finance Group provides temporary Controllers to work as senior members of our client's management team with particular focus on managing internal accounting operations.

We have served Silicon Valley technology and VC-backed companies for more than 25 years at every stage and across every major sector. If you need an experienced interim Controller, Armanino is the preferred solution whether it's for 5 days a week or 5 hours a month.

 

Outsourced controllers with experience at every technology stage and task

For emerging technology growth companies, our Controllers provide accounting guidance and essential infrastructure designed to manage resources, preserve cash, and accommodate growth. And for later stage private companies, our Controllers have the necessary in-depth accounting and operating experience to deal with the challenges that can come with more mature ventures, including restructurings, reorganizations, and restarts.

Temporary controllers manage internal accounting operations

Our Controllers routinely prepare the necessary financial reporting packages for management, boards of directors, and venture capital investors. They can also drive day-to-day functions such as accounting, planning, purchasing, human resources, and facilities management so the founder and core team can focus on the mission critical tasks of technology and business development. They frequently manage special projects such as audit coordination, IRC 409a valuations, FAS 123R/ASC 718 implementation, revenue recognition, public filings, tax issues, due diligence, and the selection and implementation of management information systems.

Interim controllers from every major technology sector

Armanino's Controllers comfortably serve every key technology sector in Silicon Valley including enterprise software, clean tech, IT, telecommunications, Web 2.0, life sciences, and semiconductors. Our Controllers have extensive exposure to multiple verticals and appreciate the accounting particulars of each sector. Critical to their success is their routine tracking of FASB, GAAP, IRS, and other regulatory guidance that affects each sector.

Controllers for Venture Capital and Private Equity firms

Armanino's team of Controllers also includes professionals with experience managing accounting and finance operations for venture capital and private equity firms themselves, in addition to their portfolio companies. These services include the complex accounting and reporting associated with fund accounting. If you are a VC or PE firm who needs an outsourced solution for your back office, please contact us.

Shareholder Rep

Once an M&A transaction is completed, the acquiring company typically does not want to deal with multiple selling shareholders. Having an advocate for the selling shareholders has become commonplace, and Armanino has represented shareholders in these sorts of transactions across every major tech sector since 1987.

Typical transaction sizes where this sort of service is required can range from a few million dollars to many hundreds of millions of dollars. Our job is to maximize the cash flow to the selling shareholders.

 

We are Operational Shareholder Reps

As Shareholder Reps, we are very operationally oriented. Each of our senior advisors has a minimum of 10 years’ experience at the CEO/COO/CFO level within public and private technology companies. So we are very comfortable working with the acquiring company to understand and resolve any potential claims that they wish to assert against working capital (post-close), future cash payments which may or not be from an escrow account, or earn-outs.

We have been in the shoes of a selling shareholder many times, and know how difficult it can be to manage these claims. Having a business person reviewing the matter, rather than an attorney, allows the acquiring company and the selling shareholder representative to hold business discussions prior to any legal matters regarding claims. This has traditionally facilitated much smoother fund flows from the acquiring company to the selling shareholders.

Our Shareholder Representation process

As a result of being a party to the M&A process, we receive information rights to the transaction and collect and review required materials. We review milestones and achievements to protect shareholders from unwarranted claims.

In many situations, an acquiring company makes enough changes to the acquired product that they try to assert they are not selling/using the acquired technology, and therefore do not owe, or drastically reduce, potential earn-outs to the selling shareholders. We will work with the acquiring company to understand their position, and negotiate for the best outcome achievable for shareholders.

Managing claims made against future cash payments

As recently as 10-15 years ago, claims against future cash payment from an acquiring company were very infrequent. Today, the majority of transactions have claims made against future cash payments. Our job is to maximize the cash flow to the selling shareholders.

The Armanino difference—shareholder services experts

Having a selling shareholder representative who reviews transactions from a business perspective is vital to assuring maximum payout of future cash to the shareholders from the acquiring company. Armanino has such experience.

Armanino is unique among shareholder representation firms because its shareholder rep team consists exclusively of proven C-level executives with extensive operational and business experience with the issues and challenges that arise during a post-closing period. Because of its operational level focus, Armanino is able to minimize the number of costly legal disputes in its engagements.

Clients

Armanino has helped more than 2,000 venture-backed technology companies at every stage of development and within every major industry sector. Below is a sample of some of our recent engagements.

 

Clean Tech

Apollo Energy
Ennovationz
EOS Climate
eSionic
Etagen
Knight and Carver Wind Group

Monolithic Power Systems
Signet Solar
Simbol Materials
Stem
Wind Harvest International

Communications-Wireless

Airship Ventures
Global Imprints
Nest
Pastry Smart
ReadandSucceed

Title Nine
Tria Beauty
Visioneer
Wordlock
Zeebo

Consumer

Centigram
Digital Fountain
Droplet Technology
Hello Direct
Mobile Money Ventures
Ruckus Wireless

Sweetspot WiFi
Vasona Networks
Xicom
xMatters

Consumer Internet/Gaming

Activnet
BitTorrent
Bluepulse
Cognitive Match
Edmodo
Imimtek
Koolbit
MediaGraph
Mixamo
Peanut Labs
RetaiLigence
Scanadu

Social Gaming Network
Spacedock
Spendgo
SuperSecret
Supportspace
TheFunded
ToyTalk
Trion World Networks
UC Planet
Weardrobe
Yodlee
Zazzle
Zuberance

IT

Ayuda
Cloudbyte
Cloudscaling
GuardID
Hewlett Packard

Patriot Memory
Pure Depth
Rescue Air
Transparent Video Systems

Life Sciences

Affymax
Altair Therapeutics
Auxogyn
Bioparadox
Breathe Technologies
CardioKenetix
CardioVention
INanoBio
Kadmus Pharmaceuticals
Modified Polymer

Motive Medical
Nellix
Nuon Therapeutics
Pavad Medical
Proteon Therapeutics
Quantapore
QuickHealth
TivaMed
Tonic Solutions
Viveve
Xlumena

Nonprofits

Bonnie J Addario Lung Cancer Foundation
Boy Scouts of America
Charitableway
Churchill Club
Lutheran Social Services
Mission Hospice of San Mateo County

Peninsula Center for the Blind
Rebuild Hope
Samasource
San Francisco Art Institute
Silicon Valley Children's Hospital
YMCA of the Central Bay Area

SaaS/Software

Accelops
Apttus
Atempo
Bloomboard
DriversEd
Edmodo
Host Analytics
Kalladus

Liberate
Mark Logic
NeoTechnology
Rackwise
Spigit
Symantec
VMware
Ziosoft

Semiconductor

Abound Logic
Aquantia
Aviza
Consilium
CrestaTech
Hammerhead
Lucent Technologies

Marseille Networks
Mattson Technology
MicroUnity
Optomai
Quartics
Sequence Designs
Sequoia Communications

Services

AAA NCNU Club
Avantgate
Bridge Bank
Cooley Godward
Elance – oDesk

Heffernan Insurance
Poised, Inc.
Pramana Collective
Silicon Valley Bank

VC/PE Firms

Bay City Capital
Learn Capital
Portola Capital
Swan Ventures

Tallwood Venture Partners
VenEarth

Case Studies

Interim financial executives at Armanino serve Silicon Valley technology companies in every sector and at every stage of evolution. Most of our clients are venture capital backed, and our CFO’s and Controllers have expertise in managing the finance and accounting functions effectively and affordably for these companies with a clear understanding of venture investor expectations.

Our overall mission for our clients in every engagement is to be the financial voice on the management team and champion all finance, accounting, and administrative functions, so the leadership team can focus on the essential value creation elements: product, technology, and customer acquisition.

The following are typical assignments:

 

Help an entrepreneur raise capital

The keys to success with a start-up assignment are to collaborate with the Founder to clarify the business vision and strategy, and then develop and solidify a plan including capital requirements that will resonate with investors. These first steps then lead to an executive summary and an investor presentation, followed by a short list of target investors.

Armanino then typically helps companies, as a member of the founding team, in making presentations to prospective investors, providing due diligence support, and assisting the CEO in negotiating terms. This is typically a CFO level assignment.

Support an early stage company that has raised Series A

Our imperative with newly funded companies is to properly set up the accounting, administration, and controls to ensure: a) basic accounting and bookkeeping systems are in place, b) cash is being tightly managed, c) the company has constructed an annual operating plan and is tracking to its monthly targets, and d) the many administrative tasks that need attention are efficiently handled. By so doing the CFO allows the CEO and core team to focus on essential milestones without distraction.

An overlooked dimension of this assignment is helping the CEO work with the Board. Many CEOs have limited or no experience with venture backed corporate governance or board reporting, and our CFOs put high priority on ensuring board meetings and communications are well managed. These assignments often include both a CFO and Controller from Armanino. The Controller manages the accounting and bookkeeping tasks and the CFO provides strategic and finance oversight for the CEO and Board.

In-revenue private or public venture-backed companies

More seasoned companies with revenue and customers have a variety of needs which can range from full time interim assignments to short term projects. All of our CFOs and Controllers have deep operational experience with venture backed technology companies and are comfortable stepping into an interim role.

Our CFOs expect to take charge of the outward facing elements of the finance and accounting arena as the right hand of the CEO and accountable to the Board. They focus on smooth Board and executive staff interaction, strategy development, major vendor negotiations, bank relations, business and long term planning, legal, and overall corporate governance. Our Controllers routinely manage the accounting functions and orchestrate internal dashboards and Board packages, compliance and audit, cash management, IT/ERP decision-making and systems implementation.

Financial advisors for strategically stalled companies

Armannio has significant experience in restructurings, reorganizations, and workouts for strategically stalled technology companies. These engagements can lead to either a restart with fresh capital or, for more distressed companies that have run out of cash and failed to secure follow-on financing, an ABC or out-of-court shutdown or formal bankruptcy.

As part of this process we often engage in asset sales to either raise capital for the reorganized company or prompt disposition of valuable assets. We are very experienced and hands-on in managing the wind down of company operations, if required, as part of any scenario.

More Information