The business owner only pays for the time the business requires the finance director. This will be a fraction of the cost of a full time equivalent. Often a full time finance director is under utilised and not efficient.
A finance director as part of the management team will add credibility to the organization,
and may well be welcomed by banks and investors.
The part time finance director will control the business finance, enabling the business
owner(s) to focus on the business development.
The finance director is a credible point of contact for other senior managers in the business. Giving solutions, options and a relationship that a full time bookkeeper or external accountant may not offer.
The preparation of and reporting on management accounts and year end results will be
undertaken in a consistent and professional manner, with a high quality set of reports,
highlighting key issues.
The part time FD will assist more in forward looking initiatives. Planning, budgeting,
forecasting & setting the business strategy, and planning the resources necessary to achieve
a successful implementation.
The FD will act as mentor for staff as and when required.
The person will bring experience, knowledge and skills from previous work to the business.
The part time finance director will review and control overheads and costs as required and
seek cost effective alternative ways of transacting business.
If necessary the part time FD will assist the business in obtaining sufficient and appropriate funding.
The FD will monitor, identify and implement changes in systems and procedures to ensure
legislative and corporate governance requirements are satisfied. The FD will help minimise all risks across the business.