Your Fractional Chief Finance Officer
Without doubt using a Chief Finance Officer can be a great way for SME recruitment agencies to get the financial expertise they need without the cost and commitment of a full-time hire. Finding these experts in the recruitment industry is like finding one of those rare, unicorn candidates that simply don’t exist.
However, these sought after CFO’s certainly do exist at NorthStar People.
We provide the services of a CFO to facilitate growth, knowledge transfer, expert advice and in many cases, we develop a client’s own finance teams through mentoring and coaching. In some instances, this is through a retained assignment and in others cases just on a ad-hoc basis to advise and guide on strategy and functional finance management. Our mission is simple, we wish to upskill recruitment agency owners and leaders to have the skills and knowledge of how to run their business when it comes to anything finance related.
Features of fractional CFO
A fractional CFO is a financial expert who provides advice and support to businesses on a part-time or project basis.
This arrangement is typically more cost-effective than hiring a full-time CFO, as businesses only pay for the time they need.
Fractional CFOs can typically offer a wider range of expertise than in-house CFOs, as they can draw on the experience of multiple businesses.
They can also provide businesses with a fresh perspective and new ideas.
Their expertise, knowledge and experience can be a valuable asset when mentoring finance managers and leaders.
Benefits of Using a Fractional CFO for SME Recruitment Agencies
Cost-effectiveness: Hiring a fractional CFO can save SME recruitment agencies a significant amount of money. This is because businesses only pay for the services they need, rather than having to commit to a full-time salary and benefits.
Expertise: Fractional CFOs typically have a wide range of experience in financial management, accounting, and business planning. This can be a valuable asset to SME recruitment agencies, as they can provide guidance on a variety of financial matters.
Fresh perspective: A fractional CFO can bring a fresh perspective to SME recruitment agencies. They can offer new ideas and solutions to financial challenges.
Flexibility: Fractional CFOs can be hired on a flexible basis, which can be helpful for SME recruitment agencies that experience fluctuating workloads.
Areas of expertise / support
- Board Strategic advice
- Financial Strategy
- Tactical and strategic advice
- Implementing comprehensive board reporting
- Working capital management and cash flow planning
- Preparing budgets, management accounts and forecasts
- NFI & KPI analysis/ reporting
- Streamlining processes and implementing internal controls
- Company Health Checks
- Mentoring and coaching finance teams and future FDs
- Assisting the recruitment and assessment of finance teams
- Change management
- Distress management
- Restructuring
- Liaising with external advisors and key partners on behalf of the client
- Bank & relationship management
- Driving financial efficiencies & profitability
