Providing the
right resource fast
We work with finance functions to tackle gaps, burning issues and change projects.
More situations
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.
Change of leadership
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.
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.
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.
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.
INTERIM RESOURCE
INTERVENTIONS
Increasing influence and impact
Background reading:
Uncovering Uncontrolled Underperformance
Finance Directors: Leading lights?