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Office of the CFO

The main pillars of the Office of the CFO software market include Corporate Performance Management, Tax Management and Liquidity Management (consisting of AP, AR and Treasury solutions), all of which work to streamline the main responsibilities of CFOs and broader finance departments. These solutions are used to create detailed forecasts, track KPIs, manage balance sheets, ensure compliance and incorporate various other efficiencies that allow management teams to accurately oversee finance departments, bolster productivity initiatives and enhance and execute business strategies.

The Office of the CFO space is driven by several favorable market tailwinds, including: (i) the transition and digitization of paper-based and excel-based solutions into automated platforms; (ii) automation via AI and ML, streamlining business processes and empowering the “business user” and (iii) unification of siloed data that exists in disparate ERP, payroll, CRM, CPM and transaction systems. There is a growing recognition that Excel has its limits, and as business complexities and data volumes grow, the need arises for packaged software applications that solve complex financial use cases with real-time updates and an audit trail.

Market consolidation is a big driver of activity within the space; several smaller players are differentiated providers of point solutions, while larger players acquire these assets to become a one-stop shop for all Office of the CFO-related products. The sector has attracted ample interest from both strategics and financial sponsors due to the nature of the solutions being highly mission critical, deeply embedded in customer data ecosystems, offering lucrative potential for upsell alongside a breadth of use cases.

Shea has a strong history in the space, advising on many landmark transactions, such as Prophix’s majority investment from Hg, TA’s investment in Sovos Compliance, Weatherford & 8VC’s investment in OpenGov and the acquisition of Magnitude by 3i Group. Overall, Shea & Co has advised on over $4Bn in transaction value for companies within the Office of the CFO space.

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