Outsourced Financial Executives

Jun 6, 2022 | Blog

, Outsourced Financial ExecutivesI doubt there is any company MD, CEO or owner who has never had reason to look at their financial department and admit they needed outside help. This could be either because his current team, although capable, were lacking in a specific skill or because the current team were digging themselves deeper and deeper into a hole from which they were ever likely to emerge unscathed. When it comes to a finance department, the old adage of those who created the problem are very unlikely to be able to correct it is very applicable.

That is the industry of Outsourced financial Executives has sprung up and is thriving. Firstly, because people are less reliant on working for a company until they retired with a gold watch and secondly it is far easier to source a person with the specific skills than it was in the past. Many MDs are amazed by the wealth of experience available within the pool of available contractors, many with specific industry experience in their own particular industry. In most cases the Outsourced financial Executive has experienced the issue before and thus the time required to make an impact is minimal and their effectiveness dramatic. In some instances Outsourced Executive works together with a regional resource and thus has an additional bouncing board as and when required.

Examples area typical areas where Outsourced Financial Executives are use are as follows:

  • Financial strategy, forecasting and cash flow analysis
  • Profit maximization and risk mitigation
  • Restructuring or control of the full financial function
  • Project management and IT implementation.
  • Company valuation and merger and acquisition activity
  • Mentoring and guidance of incumbent

Whilst all the administrative elements are taken care of by the service provider, in all the above areas the independent contractor has a very close working arrangement with the client company to make sure the specific task is completed effectively.

Traditionally the service company has taken a large share of the revenue pie. We don’t see. We believe that through effective systems and administrator, our job as the service provider can be performed cost effectively and thus the total price paid by the end client is lower and the renumeration received by the team doing the work is increase. To see how we can assist your company or to apply to be considered for various assignments, please click the links below.

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