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The mission of the CFO is to monitor the profitability and solvency of the company, and to anticipate its financing needs. Generally, the Administrative and Financial Director also has a representation mission to banking or administrative services. Acting as close as possible to the management team and / or the board of directors, the CFO occupies a very strategic position. Indeed, it must give visibility to decision-makers on the good management of the company, its financial prospects, legal and financial risks, etc. As such, the CFO develops decision support tools and contributes to the overall development strategy of the company.
Why recruit an Administrative and Financial Director?
In charge of the treasury and accounting management of the company, the CFO is one of the best-placed people to analyze the performance of the organization and think about its long-term strategy. This is why recruiting a CFO / CFO is crucial, and should be done with great care!
For a small growing company, recruiting a CFO means enriching the management team with the skills necessary for rapid development with real control of financial and legal risks. In addition, the CFO / DAF has generally received training allowing him to perform part of the missions of a HRD (Human Resources Director) in a period of transition or internal reorganization.
More than a million companies do not have an Administrative and Financial Director to manage their financial activities. However, this expertise is increasingly necessary to support digital transformation. In reality, the function of CFO is essential, but represents a considerable cost for the company. This is why more and more small and medium-sized companies are opting for an outsourced administrative and financial management service.
Indeed, an internal resource will always be better able to advise the manager to take new strategic orientations. Likewise, if you are faced with legal risk management issues, then having an in-house CFO to supervise the work of a lawyer and an accountant will be a definite asset! An administrative and financial director plays a key role in the company. He is responsible for the management of the entity, the treasury and the accounting. With the changing labor market, hiring individuals for a short period has become commonplace. It is therefore not surprising that we see that more and more company executives are calling on a time-share CFO.
To begin with, it is important to broach the subject of interim management. This process appeared in the Netherlands in the 1970s. Currently, this practice is widespread in Europe and of course in United Kingdom. If you are a business based in London and are looking for a Part-Time Finance Director to help drive your business forward then look no further than FD Capital Recruitment. Part time FD London concept is quite simple. The company calls on a high level professional to benefit from its services for a limited time. The position held is of great responsibility, because the aim of this intervention is to effect a positive and significant change within the institution. In addition, nothing obliges the management committee to hire the person after the work has been carried out. In addition, a mission director supervises the manager. Thus, they make briefings together concerning the carried out project. A timeshare CFO can act as interim manager. It usually holds a specific charge. Most often, this involves overseeing financial functions.
The first advantage offered by an outsourced CFO is that it is immediately operational. This means that it adapts very quickly to the situation in society. In addition, it is possible to call on him on an ad hoc basis, that is to say that he is called only when we need him. Thus, money is taken out of the boxes on the few occasions when it takes on a task. It can even go up to a few days per month only. Flexibility is the biggest benefit of hiring a timeshare professional. For SMEs, granting a permanent contract to a recruit can prove to be costly. This can slow down the growth of the company when it comes to a position of responsibility. Indeed, the remuneration of an additional senior manager increases the monthly charges.