The register of Finance Directors offers qualified accountants with experience of senior management in industry and commerce who may be available for interim management roles on a self employed part time or full time basis.
These interim Finance Directors have seen it and done it before. Each is used to working in a high pressure environment that requires him or her to "hit the grounding running" and provide value and solve problems from Day 1.
Reasons For Hiring An Interim Finance Director or Manager
- Improving performance
Using an experienced finance director who is outside of your line management on a particular improvement project brings incredible focus to the project. Quality improves and time scales reduce.
Without such an interim manager, the day-to-day commercial and staff issues interrupt the best laid plans. That's why day after day, experienced line managers go home knowing that they have not achieved what they intended to - they have been forced to focus on the urgent and delay the important.
An interim manager solves this problem and is able to provide dedicated, focused time on your improvement project and can be extremely effective working as the project manager, making sure that people are sticking to deadlines or evaluating alternative approaches if timings do slip.
- Bringing in specific skills to projects
Your management team has been designed for the regular management of your business but a particular project often needs specialised skills.
You could find exactly that skill you need in an interim manager. There is no reason to struggle with the issues of trying to train an already busy executive in new skills.
- You need a stand-in while a new permanent executive is found.
It's inevitable that staff leave and often it happens before you can find the right replacement.
Interim managers offer an extremely flexible solution as they are available immediately and can help ensure a smooth transition by going through a handover process with the person leaving and the new appointment.
- Restructuring & turnarounds
If your business is not performing as well as you would like, there is an inevitable increase in the amount of financial analysis required, both to understand what has gone wrong in the past and the action plan and financial forecasts for the future.
The interim finance directors can give you a high powered, action focused service whilst also providing an invaluable independent and objective view.
- Acquisitions
If you are considering making an acquisition, our experienced finance directors can assist you in the evaluation of the target companies and in the acquisition process.
If you have already bought a company, you now face the challenge of how to manage it and possibly integrate it into your existing organisation. Again our interim finance managers can help you make sure that your new company is integrating smoothly and effectively with a strong emphasis on delivering financial performance.
- Growth
Perhaps your business has experienced a remarkable short term growth and you have outgrown your current processes, systems and procedures.
An interim finance director can give you the short term assistance needed to make sure that you are put back in control of your business and that you are able to make sure that top line growth does come through in extra profit and cash.
Do You Need A Full Time Or Part Time Interim Finance Manager?
It's natural to think in terms of a full time interim management position but do you really need a full time interim manager?
There are big advantages in finding people willing to work in part time interim finance director and manager roles. Statistics indicate between 30% and 40% of interim roles are on a part time basis.
Part Time Interim Management Increase Flexibility
The first key advantage to part time interim finance roles is flexibility. Projects don't fit a nice neat "5 days per week for 10 weeks" box.so why should an interim management assignment.
A more common pattern for a project us that you may want somebody for a couple of meetings one week, an intensive three day analysis task the next week, a few branch visits the next week...
Unless your project is entirely standalone or very lathe and the interim manager can work on it full time, projects have to work around other people's time commitments. The flow of work isn't even or fixed each week.
Part Time Interim Management Provides A Smoother Handover
The second key advantage is that you can get a smooth handover at the end of the project.
Full time interim management is black and white. It's on or it's off.
There is no middle ground.
But wouldn't it be better if you can arrange a gradual withdrawal and handover of responsibilities and know that the your interim manager can return if there are any unexpected problems or difficulties?
Part Time Interim Management Makes Sense Financially
Third there is the cost/value relationship.
Any good interim finance director or manager will have a high hourly or daily rate and costs can mount up quickly.
This not a problem when the time is spent on high value activities with long term benefits but it does become a problem when expensive time is spent on low pay-off tasks because the person is filling their weekly time commitment.
Isn't it better for you if you are able to focus your interim manager on the vital high value tasks but you also have an arrangement that if there is no work requirement, there is no time commitment from either side?
Remember "part time" does not mean half-hearted or any indication of a weak commitment to your objectives. You will be dealing with a senior, experienced professional with the work standards and values to match.
My Experience Of Part Time Interim Management
I have been involved in a number of project based roles on a part time basis and clients love the flexibility and focus on service.
I worked when tasks needed to be completed and went away when there was nothing to do then would pay back the costs of my time.
I have never taken a full time interim role and never wanted to although there have been times when I've had to work 60 or 70 hours a week for a client because that was the nature of the project.
Finding An Interim Finance Director Or Manager
Please see the Register of Finance Directors which shows experienced qualified accountants around the UK who have signed up to promote their part time Finance Director work on my website.
These professionals are committed to self employment with a portfolio of clients who receive specialist care and a high quality financial management service.
Individuals may be available for a full time interim role depending on current client work-load but it is more likely they can offer part time interim finance support.
The part time finance director role is an important bridge to help a company move from being a small business to a much larger one which needs their own full time Finance Director.
Contact any of Finance Directors who look suitable and explain your situation. You will be dealing directly with the person and there are no agency fees to worry about.