In our latest blog post, Christian Moesch explains how a part-time CFO can help your business, for example at the beginning – and how an interim CFO takes over when there is a lack of personnel resources.
We recommend a part-time assignment to companies that cannot (yet) create a full-time position for a CFO. In general, this solution is independent of the industry; however, we are frequently contacted by established companies. Start-ups might also benefit from this solution. An interim CFO is flexible and can be deployed on a selective basis. This means that they are recruited for any desired stint, depending on the tasks and the time they are needed for. Established companies, for example, ask us for help when they are undergoing short-term personnel changes. In such a situation, we take over various tasks in finance and we even assume overall management.
Strategical financial planning
Start-ups and other fast-growing companies that would like to professionalize their finances are well advised to recruit a part-time CFO. This holds particularly true for international and capital-intensive companies. At the beginning, a start-up might hesitate to invest into an CFO. Yet, the advantages are obvious: the CFO assists the company in creating a solid planning basis and in all that regards the financial strategy of the enterprise. Thus, this person is a strategical sparring partner for the CEO and the board of directors.
The importance of professional fundraising
Every company needs funds (equity / debt capital) – both at the start of business activity and for strategic investments. However, some companies are particularly capital-intensive: for instance, the ones operating in the field of biotechnology. In their first years, they go through research and development phases that only in rare cases generate revenues. In order for these companies to successfully pass this initial phase, it is crucial for them to secure financing. The CFO assists in raising funds. He might also act as link between the investors and the company. Staffing this position with a competent person builds trust with the investors.
A valuable interim solution
The part-time or interim CFO brings extensive skills in finance to the company. They make sure that the company develops and continues its competences in that field. They also take care of the financial planning security. Further activities of the CFO include: development of the accounting system and – if necessary – implementing new accounting standards, setting up controlling as well as an internal control system, financial reporting, liquidity planning and monitoring. After the start-up phase and if the company size allows, the company creates a full-time position and hires its own CFO. The same applies to interim assignments, in which after a while a newly hired person usually takes over the task at hand. In both cases, the neutral outside view of an external CFO brings significant added value to the company – regarding both development and improvement measures.
We offer you a CFO for all financial matters within your company. You can rely on our longstanding experience and expertise, with which we assure you of our competent support.
October 05 2021
