Sharp eyes prioritise.
Experienced hands help.
We work with finance functions to tackle burning issues, gaps and change projects.
Something's new
Up front work for incoming CFOs/FDs
Incoming CFOs will have many immediate priorities with their key stakeholders including the CEO, the Board, investors and potentially lending banks. It’s frustrating when this limits how quickly the ‘new blood’ can get to grips with the finance function and shape it as required. A situation accentuated by knowing this is precisely the time to make great progress - a window of opportunity when the organisation expects change. Crucial actions required to deliver new substance and style to the key users of financial information are postponed. And opportunities to improve efficiency, improve cash flow and reduce costs are lost.
We provide the CFO access to hands-on, experienced finance professionals in these crucial early weeks – while the new CFO juggles many conflicting priorities. This fast-tracks familiarisation and delivers results in chosen priority areas quickly. Case
The time when a new CEO is brought in places considerable new demands on everybody and particularly the finance function. New three-year strategic plans, budgets, financial models and redesigned management accounts are all required in short order and the finance function often lacks the capacity and experience to deliver. Furthermore, the CFO may have to spend so much time with the new CEO, the Board, investors and lending banks that they are unable to devote the time necessary with their team to lead this process effectively. Case
Change of ownership/refinancing
When businesses change hands or refinance there are many uncertainties and one sure thing - the huge amount of incremental management information demanded by the new owners and lending banks. This holds pre- and post- transaction (even if there’s ultimately no transaction at all). Never under-estimate this burden. Finance functions organised and resourced to manage the status quo may just not be able to cope. Case
Something's up
Successful fast growing businesses have outgrown the finance function
In their rapid ascent of the growth curve investment in finance and administration is not always the priority of many businesses – and probably rightly so. But eventually the business must progress to the next level and the time inevitably comes for the back office to deliver to the same standards and level of service as the successful front end, otherwise the back office itself becomes the constraint to growth, mistakes will be made and value will be lost. Case
Not getting the management information you need
Like the ball-winning midfielder that can’t pass, much management information defeats its own purpose. It fails to inform management. We often hear from CEOs and other Board directors who tell us that they are just not getting information they need to manage their businesses – too much detail, too late, too focused on the past. Sure, management accounts circulate monthly but they don’t always provide real insight into the profitability and cash generation of the business. Nor do they highlight the right signals or KPIs (Key Performance Indicators) as to whether or not the business is heading in the right direction.
Finance transformation Case1 Case2
Process problems Case
Cash and working capital management
In all of these situations, the finance function is facing a period of fundamental change. The considerable incremental demands on finance to deliver - often to short time scales - may indeed require a step change in the organisation and effectiveness of the team as well as significant improvements to the way in which it relates to the rest of the business.
Everymind’s experienced finance professionals help businesses face up to these challenges and deliver results fast.
