When Your CFO Changes, Your Accounting Partner Shouldn’t
When a new CFO joins during a critical funding round, financial continuity is essential for investor confidence and operational success. High-growth companies need a strategic partner who can bridge knowledge gaps, modernize systems, and absorb complexity without adding headcount.
Aiera Inc., a New York-based AI-powered financial research platform backed by leading Wall Street firms, serves institutional investors by integrating broker research, expert networks, financial news, and corporate event transcripts into a unified system.
Learn how Wiss helped Aiera navigate this critical transition while scaling their finance operations.
The Challenge
Outgrowing Existing Support: Critical Gaps During a Leadership Transition
As Aiera prepared to close their $25M Series B funding round, a new CFO joined the team just as the previous CFO departed, leaving critical knowledge transfer gaps in legacy processes. The company's existing outsourced accounting support couldn't scale with their anticipated growth trajectory, creating operational risk during a pivotal moment.
Their manual invoicing process was unsustainable for the billing volume increases ahead. QuickBooks Online couldn't support multi-entity consolidation requirements, and deferred revenue schedules exceeded the system's capabilities. With investor scrutiny high and operational demands increasing, Aiera needed a strategic partner who could ensure continuity while modernizing their financial infrastructure, without disrupting the funding process or adding to internal headcount.The Approach
Hands-On Partnership, Strategic Planning, and System Modernization
Wiss became the institutional knowledge bridge for Aiera’s new CFO, providing hands-on support and multiple strategic planning sessions to ensure operational continuity during the leadership transition. Our team took a patient, collaborative approach, understanding that the CFO needed to focus on investor relations and strategic priorities, not operational firefighting.
We fully assumed invoicing operations, ensuring timely and accurate billing while the new CFO established their footing. Beyond maintaining day-to-day operations, our team led a strategic platform upgrade from QuickBooks Online to Rillet, a modern system purpose-built for multi-entity consolidation and complex revenue recognition.
Throughout the process, we educated Aiera’s internal team on financial best practices, provided recommendations to improve system efficiencies, and acted as a reliable liaison for any agency or regulatory requirements.
Project Timeline
A Phased Approach to Financial Stability and Growth
The Impact
Seamless Transition, Strategic Focus, and Operational Readiness
Key Results:
- Seamless Leadership Transition – Zero disruption to financial operations during the critical Series B funding round, maintaining investor confidence throughout the CFO change.
- CFO Time Redirected to Strategy – New leadership could focus on investor relations, board reporting, and strategic growth initiatives rather than getting consumed by operational accounting challenges.
- Operational Readiness for Scale – Modern financial systems and automated processes positioned Aiera for their next growth stage without requiring additional internal headcount.
- Revenue Recognition & Cash Flow Optimization – Automated billing ensured timely invoicing while the new Rillet platform provided accurate, consolidated financial reporting across entities.
