B2B SaaS start-up consalio backed by angel investors for an optimized advisor spend management

B2B SaaS start-up consalio backed by angel investors for an optimized advisor spend management

Düsseldorf, 12.07.2021: Advisory services can easily consume up to 10% of the costs in a company. A targeted management of these expenses is currently not possible, because external service providers are usually not connected to internal company software. This problem is solved by the young start-up consalio, which has developed a software to create transparency about all current (and historical) advisory services in the company and, based on this, to optimize the use of funds for advisory services supported by artificial intelligence. The B2B SaaS start-up has just closed an angel round to drive product development and customer development.

Companies are increasingly dependent on external service providers – from legal and tax advisory to IT services to marketing agencies or management consultancies – which can be observed in the massive increase in global spending on advisory services. This development is accelerated by the challenges of advancing digitalization, with many companies relying on support from external expertise. consalio enables targeted management of these external service providers by analyzing data from the time recording systems of consultants, agencies or freelancers and preparing it for the various stakeholders in the company in easy-to-understand dashboards. Transparency about the status quo of projects is just one component. By using artificial intelligence, consalio will be able to recognize project-specific patterns, provide risk assessments and recommendations for action, and provide decision support. In addition, consalio will automate the interaction and processes between the company and the advisor, helping to increase efficiency, for example, when arranging additional work packages or in the invoice approval process.

“Our vision is to transform the collaboration between companies and advisors” says Felicia Mundhenke, CEO and co-founder of consalio. “In addition to reporting, automating processes and optimizing the use of resources, the focus is on improving the relationship between companies and advisors. As an independent platform, consalio brings both parties to the same level of information during the ongoing project, helping to build a long-term and trusting relationship between companies and consultants.”

With its first paying customers already in its portfolio, the B2B SaaS start-up has just closed an angel round and will focus on product development and building up its customer base in the coming months. The consalio team was able to win over renowned investors like, among others, Alexander Bruehl (SaaSgarage), Oliver Markl, Philipp Möhring, Mike Simon and Anja Witte.

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