When and Why
Do You Need an Interim CFO?
Wise financial leadership can make the difference between success and failure. Many executives eventually find themselves in predicaments that demand the expertise of an Interim CFO.
Interim Chief Financial Officers can help companies survive difficult situations or achieve critical short-term goals. They do this without introducing the hassles and costs involved in hiring an experienced permanent staff member, plus they offer the added advantage that once the job is complete, they depart (unlike an employee).
What is an Interim CFO?
This type of CFO typically serves each business for a number of days, weeks or months, often working for multiple companies at the same time. This executive helps a company to go from point A to point B.
For example, they may help a company succeed in accomplishing a significant objective, or serving until the firm finds a long-term replacement. Regardless, these individuals conduct many of the same fiscal planning, analysis and management tasks that permanent CFO’s perform. Once they complete the task, i.e. ‘arrive at point B’, then they move on to another client.
How Interim CFOs Can Help
Newly hired, full-time executives often require months to acquaint themselves with new companies. Temporary Chief Financial Officers understand how to adapt quickly and make effective decisions within days. Here at Intigro, we have operated as temporary CFO’s for over two decades and know “the drill”. We can provide your firm with an experienced CFO who will immediately assess the situation, offer experience-tested solutions and start making a difference on day one.
Interim Chief Financial Officers have worked in numerous industries, so they know how to handle a vast array of problems. For instance, temporary CFOs can take steps to improve cash flow, minimize financial risks, cut supply costs or boost stock dividends. Intigro’s CFO service has assisted companies ranging from a rice production business in Haiti to an Atlanta metal recycling firm to the world’s leading hosting company.
When Are Interim CFOs Needed?
Many organizations hire temporary officers when they face unfamiliar situations that existing staff members don’t know how to address. You might need an interim executive if your company has begun to lose considerable amounts of money or needs to undergo restructuring. Business acquisitions and expansions may also call for temporary CFOs.
On the other hand, your firm could need a qualified officer to step in if its current CFO unexpectedly quits or passes away. This will give you time to seek a desirable replacement. Rather than paying too much or hiring an inexperienced applicant, you can take your time and benefit from a seasoned executive’s guidance.
Regardless of the circumstances, Intigro has the resources to provide your company with a knowledgeable interim CFO. We have helped many different businesses weather financial storms and achieve greater prosperity. Among others, our clients include technology companies, manufacturers and construction firms. If you need an experienced interim officer, please contact Intigro for further details.
[bookly-form category_id=”1″ service_id=”1″ staff_member_id=”1″ hide=”date,week_days,time_range”]