I need help with my business finances ? should I employ a part-time FD/ CFO?

Finance Director P&L Balance Sheet Cash Flow KPIs Business Performance Part time CFO Part time FD Financial growth financial problems part-time accountant financial help

Leaving the security of full-time employment was a big step, but it felt as though the company I worked for at the time, as well as my previous workplaces, were facing similar and recurrent issues. I set out to find a solution. It was my first client who really summed up the reason I started Evoke Management. He desperately needed someone to oversee his finances but couldn’t afford to employ a full-time Finance Director. This is an issue we come across frequently. It’s an overwhelming obstacle for SME owners and it can block the growth and development of a business. One option is to bring an expert on board on a flexible basis, but first you have to work out if a part-time FD is the most suitable solution for your business.

Clients turn to us to help them solve a host of problems. These are the most common:

  • I’m not making the most of my accountant
  • My business finances are in a mess – I need help
  • What is Management Accounting and could it help my business?
  • Which KPIs should I be monitoring?
  • How do I grow my business?

Don’t ignore these problems – face them head on and you will soon see your business thrive. Before you take the plunge, you should read the answer to the following questions:

  • How could a part-time FD help my business?
  • Why is a part-time FD great value?

Firstly, let’s think about the problem you are trying to solve. If you feel that your business could do with a comprehensive financial strategy but you do not currently employ someone with those skills, a part-time FD could really fit the bill. A part-time FD offers great value as you will not incur the expense of the employment process or the salary or benefits that may have discouraged you from hiring someone in the first place. A part-time FD is someone who brings outstanding experience to the table. He or she has worked in the commercial world, usually in large multi-national organisations, and has seen how business works, from the inside.  

These are the main functions of a part-time FD:

  • Leadership of finance
  • Strategic advice and recommendations to Board and other key stakeholders
  • Setting and monitoring KPIs
  • Developing and improving internal finance and business systems
  • Challenging and advising on growing the business
  • Improving financial performance
  • Liaising with external advisers
  • Meeting external reporting obligations
  • Cashflow forecasting
  • Rolling forecasts
  • Integrated P&L, balance sheet and cashflow
  • Cost analysis

We came together as a team of experienced management and business consultants, on a mission to address a range of recurrent issues faced by SMEs in a cost effective and practical way.

 Think about asking your team how they would feel about bringing a part-time FD into the business, and you may find it’s the ideal solution.

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About the author

Rob Boll

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Rob is a forward-thinking CIMA qualified Management Accountant, who has held senior roles within large multinational and small specialist Financial Institutions. His more recent experience includes advising fast growing small and medium enterprises.

Rob has worked extensively in Finance and Business Development, accruing 10 Years at JP Morgan and 4 Years at KCG (formerly Knight Capital). In April 2015 founded Evoke Management, where he offered strategic business advice to SMEs with a finance focus. He strives to provide Strategic Business Performance Advice, and offers his expert and cost-effective services as a part-time FD and COO to businesses looking to grow yet retain flexibility and control.

Rob understands the challenges faced by SME owners in today’s fast moving economy. Generally time-poor and unable to divert the necessary resources to improving the performance of their business, they turn to Rob for a tested and effective solution.

He works with organisations on removing barriers to growth, examining high level but vital aspects of the business. Using a unique and innovative approach, Rob helps businesses identify issues, make a comprehensive plan and tackle problems efficiently and effectively.

When he’s not working, Rob loves spending time with his family, and can often be found near or on water – he’s a passionate Yachtmaster, partial to sailing and motorboats.


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