'All Shook up' - time to engage an interim FD?
Updated: Jun 11, 2020
‘I Believe' 'It’s Now or Never' to go ‘From a Jack to a King’.
The events of the past few months have created huge risk for businesses. However, this risk is about to be countered by increased opportunity. Some of the most iconic and well-known businesses of the past decade grew out of global economic disruption – Uber, Skyscanner, Booking.com, Amazon, Just-Eat…
Businesses who have the foresight, ambition and financial control will be presented with exceptional opportunities during this period – will your business be ready to take these opportunities?
‘The King’ was a huge believer in the value accountants and once famously proclaimed:
“I have no use for bodyguards, but I have a very specific use for two highly trained accountants”
An interim CFO or FD can be a highly cost-effective way to ensure that your business is in a position to minimise risk and capitalise on opportunities:
- It may be hard for your company to justify the cost of a full-time CFO or FD. Bringing in professional finance and commercial skills on an interim or part-time basis may deliver all you need for minimal outlay.
- You may have a temporary absence from work of a key member of the team, perhaps unexpectedly, for many reasons e.g. sickness, secondment, childcare.
- You may need finance skills immediately and can’t wait for several months while you recruit the best candidate for a permanent appointment.
- You may need to bring in skills that are not available in-house for a particular project e.g. acquisitions, mergers, raising finance or exits.
- Interim CFOs or FDs, because of their wide experience, can bring fresh thinking to a business, identify new opportunities, or potential risks. By influencing strategy in this way, they can bring long-term value to a business for minimal cost.
- Effective use of technology will be key to success in the modern business environment. An interim CFO or FD will have up-to-date knowledge of the best tools to analyse financial performance and make projections for the future, as well as to manage the everyday financial operations e.g. payroll management, dealing with suppliers and customers.
- Your business may face a short or medium-term threat to survival. An interim CFO or FD can help your business through a difficult time e.g. identify cost savings, negotiate debt restructuring.
- For the longer term, an interim CFO can set in place arrangements to ensure that your business can access the capital it will need for its sustainable development.
There is a 'Whole Lotta Shaking' Goin' On” in the world of business right now, however ‘You’ll never walk alone’ with an Interim CFO/FD.
We don’t do Elvis requests, but we do have an exceptional network of highly trusted and experienced Finance Directors and CFOs that we can share with you.
If you’d like to discuss how an interim CFO or FD can support your business, please get in touch.
0131 374 8487