Financial Executive to the Rescue
A financial executive fluidly moves through the interim executive market, with a streamlined expertise crossing industry boundary lines with facility.
They form a large chunk of the interim executive marketplace today, and that will likely remain the case as more companies seek expertise to manage today’s complex financial rules and regulations.
A financial executive can be an integral part of strategy, and a financial interim can be of critical use when company finances and decision-making need fixing under intense deadline pressure. It’s a roll-up-your-sleeves and dive into work scenario which includes the following priorities:
- An experienced financial executive first will analyze the situation and miss nothing, X-raying the company’s financial information in context of the leadership’s ultimate goals. If publicly traded or PE driven, that goal is narrowly focused on earnings improvement.
- An interim stops the bleeding. An experienced interim financial executive will pinpoint areas where cash is escaping, said Martin Mayr, an interim CFO based in Austria. No use worrying about a superficial scrape on the forehead if the femoral artery is draining funds. Demand transparency from the numbers. An interim will watch cashflow like a hawk, particularly if brought in under distress or bankruptcy, where reporting requirements are immediate.
- Not first but still a priority: organizational changes. Is the workforce being utilized in the most efficient manner? Are processes streamlined? Does cost-cutting apply or is new training needed? Interims can be a great source for getting at the reality, without the political ties that impede tough conversations with employees about necessary changes.
Interim engagements are not for long-term caretakers, but for executives ready to force fast changes, or a troubled or transitioning company back on track.