Tag Archives: interim CFO

Has your business lost its “One Direction”?

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It can happen at any time in business, just as in a boy band, where a key member of your Board or senior management team decides to leave suddenly disrupting the growth, momentum and stability of the business. Larger companies can look from within to promote however SME businesses may find they have a significant gap in resource. Initially the reaction is to either survive for a period whilst diverting other resource to backfill or use their auditors or other professional advisors to provide support. Using temporary cover is also another option however they usually need to be managed and are on short notice with the risk that they may also move to another role.

The use of an independent career interim, that tends to operate at Board level, is a solution that can provide the necessary resource to a business and also take on the recruitment of a permanent alternative. They provide the functional responsibilities to ensure the minimum of disruption the direction and momentum of the company and will contribute objectively. Commercially focused interims can perform a number of activities including forensic review of the business, the development and implementation of strategic and operational initiatives, assist in restructuring or identifying change requirements in business processes, controls and systems.

Their dedicated focus is to deliver results with objectivity, accountability, flexibility and are immediately productive and efficient. Unlike consultants or temporary staff, where costs tend to drop to the “bottom line”, interims focus on the delivery of benefits to your business. The outlay on the cost of an interim should be matched by a multiple of benefits over time.

MW Interim Finance can assist you in compiling or reviewing your business / risk plan in key commercial areas of your business, in addition to providing an independent CFO/FD resource on an interim basis. For further information or a confidential discussion about your specific requirements, please contact Martin Walby FCMA CGMA on + 44 (0) 7876 566875 or email martin.walby@mwinterimfinance.co.uk

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Pension Freedoms………..personal versus a business viewpoint

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In April 2015 the much publicised changes in pension flexibility are due to come into force and there has been much media and other commentary on the likely choices individuals may make. Some people could choose; a flexible drawdown approach, review whether annuities still provide the best option, fund other pensions from income from another pension, (within statutory limits), or even “blow the lot” on an expensive car, luxury home or fritter away on other activities such as holidays. In the latter case it must be noted that the balance of pension withdrawn, over and above the tax free maximum of 25%, will be added to any other income earned and taxed at the relevant marginal rate.

If you have reached or are approaching retirement age then there could be interesting decisions to be made, assuming that a significant “pension pot” has been accrued. For those in their twenties and thirties there is some attractiveness to being able to access a pension more flexibly, however the age at which they will be able to do this may well be moved upwards by successive governments.

A more interesting point is for businesses that possibly will have a number of the senior management team approaching retirement age or perhaps considering early retirement. If succession planning has not been part of a company’s risk strategy or no attention has been paid to the replacement of key personnel, then potentially critical business knowledge will depart with those retiring. There could be a significant loss to businesses of all sizes over the next couple of years if the risk and business plans of a company do not address pension flexibility.

MW Interim Finance can assist you in compiling or reviewing your business / risk plan in key commercial areas of your business, in addition to providing an independent CFO/FD resource on an interim basis. For further information or a confidential discussion about your specific requirements, please contact Martin Walby FCMA CGMA on + 44 (0) 7876 566875 or email martin.walby@mwinterimfinance.co.uk

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MW Interim Finance today announces the launch of its new website

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MW Interim Finance today announces the launch of its new website;-

www.mwinterimfinance.co.uk

MW Interim Finance continues to deliver an independent interim finance director/CFO level resource supporting companies undertaking strategic, operational or project based change activities. Focusing on interaction with main Board directors, business owners and leadership teams we provide objective and focused support in:-

“Managing Change Effectively”                    

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Business objectives change over time and MW Interim Finance is able to support business change in a number ways to both SME and larger corporate organisations;-

Forensic operational review, forecasting and profit improvement

  • Working capital and cash flow optimisation
  • Project appraisal, analysis and business modelling
  • Financial control of UK and overseas multi-site operations
  • Strategic business planning and development
  • Restructuring and business turnarounds
  • Merger, acquisition and divestment due diligence and completion activity
  • Business and systems integrations
  • Evaluating risk and enhancing controls, process and systems

For further information or a confidential discussion about your specific business requirements, please contact Martin Walby FCMA CGMA on + 44 (0) 7876 566875 or email martin.walby@mwinterimfinance.co.uk

www.mwinterimfinance.co.uk

 

 

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The engagement of an interim finance director or CFO should never be a cost to your business

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Unlike consultants or temporary staff, where costs tend to drop to the “bottom line”, interims focus on the delivery of benefits to your business. The outlay on the cost of an interim should be matched by a multiple of benefits over time.

Business owners, directors and senior management tend to utilise in-house resource to deliver their strategic and operational objectives, assuming their staff have the requisite knowledge, experience and gravitas to deliver expected results. In many cases there are prolonged increases in work load across the organisation leading to significant pressures on personnel, processes and procedures. The implementation timetables can often be delayed with functional areas “taking their eye off the ball” when it comes to sales, operations, cost, profit and cash flow, and perceived improvements and synergies are often significantly diluted.

If you have an operational or strategic project that requires implementation and you wish to discuss how an interim finance resource can work with the business, contact martin.walby@mwinterimfinance.co.uk at MW Interim Finance or see our website at www.mwinterimfinance.co.uk

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