In large companies the Finance Director (“FD”) or Chief Financial Officer (“CFO”) plays a key role in strategic planning and operational performance to ensure that the company’s business and financial goals are properly set and are achieved. So important is the finance function that often the FD or CFO becomes the managing director of large companies, and typically such companies generate impressive financial performance over long periods of time.
However, FDs or CFOs of this calibre come at a cost which often cannot be afforded by SMEs. Is the owner or managing director of such enterprises doomed to carrying out all of the strategic and financial roles himself – or alternatively limited to the financial support provided by his book-keeper or the company to which he has outsourced his payroll and VAT functions? No – there is an affordable alternative which can provide all of the skills which the managing director of an SME needs, but either does not possess himself or simply cannot perform in the number of hours available in a 24-hour day!
A part-time Finance Director could well be the solution to his needs. Very skilled and experienced financial people are now available who are prepared to work by the day – and sometimes even in smaller multiples of time. They bring with them all of the skills to which larger companies have regular access – and SMEs can have regular access to these skills too: and at an affordable price, because they only pay for this highly-skilled time on an as-needed basis.
Using the services of a part-time Finance Director also has the advantage that people who provide such services are accustomed to being called in to deal with crisis situations. They are used to helping companies to re-gain control of their cash flow, and to identifying the cause of the problems in the first place – whether it is pricing policy, supplier relationships, poor credit control or any of many other possible causes. As a result, a part-time Finance Director is quickly able to get on top of issues which may be giving the managing director sleepless nights and – where necessary – identify what needs to be done to turn around the company’s performance.
Companies which have a Finance Director are often given higher credibility by other organisations.
Home Counties Business Advisors and its associated groups have access to people who possess these skills – and if needed they can help your company transform its performance and its future.
For more details contact one of our experienced advisors at email@example.com