Resource at CFO level is often expensive and for small and medium sized organisations, this is seldom required on a permanent basis and is often beyond the financial resources of the Owner / Shareholder.  It is however when the skill set of the CFO is most needed.

 

Typically, the focus of the CFO will often depend on the nature, age and size of the organisation. 

 

For young organisations, this may involve the establishment of the Finance or Business Services infrastructure – the latter including Banking, Tax, Human Resources, Information Technology / Accounting systems, Procurement, and Legal. Often in the early stages, the development of the business infrastructure is driven by requirements which tend to be diverse in nature, urgent, and one off.  There is the need therefore to work across multiple disciplines other than just Finance.

 

For organisations anticipating significant growth, it may require assistance in performing due diligence in advance of acquiring new business, and ensuring bank funding or tax efficient equity structures are in place to support organic growth or acquisitions.

 

More established organisations with an existing CFO may require a fresh set of eyes by way of peer review, assistance with specific business improvement projects, or back filling the existing CFO function while the CFO is seconded elsewhere.  There may be cause for developing and executing an exit strategy where the business is unsustainable or the current owner wishes to divest. In situations where the ongoing viability of the organisation is in question or the long terms requirements unclear, the Executive team is right to avoid engaging permanent headcount and should look at engaging flexible resource until the path forward is clearer.

 

It is imperative that the skilled resources to deliver these outcomes are aligned with this requirement.

Whatever the need, size, or evolutionary phase an organisation is in, Dial a CFO can bridge the gap by providing flexible access to the right resource.