At the various stages of a business’ journey, the concept of the “right” mix of skills and talent constantly fluctuates. As the company changes, so do its talent needs. Consider these examples:
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When a sudden need for a new skill set opens up or a transition occurs on the finance team, it’s time to look for a reliable place to turn that can meet the level of expertise required to meet this latest challenge. This is where RoseRyan fills critical needs, as our finance and accounting consultants are prepared to jump into a variety of situations and get the job done.
Interim accounting and finance experts include interim CFOs, controllers, senior accountants, revenue recognition experts, FP&A experts and cost accountants. These are roles that require specific skills and responsibilities, depending on the size and growth stage of a company. The best interim finance experts go above and beyond the job description—they become a valued member of the team and a trusted advisor to the team, even though they may be with the company for only a certain length of time.
When a company opts for bringing in interim talent, or an interim consultant, they are focused on the expertise that the person can bring to the table. This is much different than deciding to use the services of a temporary staffing agency or temp-to-perm firm; at those types of firms, the people who temporarily work for a company are primarily focused on finding a permanent job. When your company decides to work with a consulting firm, the consultants you will be working alongside are fully focused on your company’s primary project and goals. The benefit to your company is the instant access to the diverse experiences of the consultant, which may include both public accounting and corporate experiences.
The Benefits of Using Interim Talent
Here are just a few of the many benefits of looking into interim talent, such as an interim finance manager or temporary CFO:
What is an interim CFO?
An interim CFO has deep financial leadership experience. This person has likely served as a chief financial officer on a full-time basis in the past and now prefers to act as a CFO for a variety of companies, as a consultant. This as-needed, outsourced role gives interim CFOs an opportunity to hone their knowledge and the job satisfaction that comes from being able to share their knowledge and expertise with more than one company.
What are the advantages of hiring a temporary CFO for small and medium sized businesses?
Senior-level experience is most welcome at any company, for practical knowledge that the company does not currently possess. Many small and midsize privately held companies find that a full-time CFO does yet not fit within their payroll budget or current needs. For now, as they contemplate potential funding strategies, they may need just 10 hours a week of an interim CFO’s time or even less, depending on the complexity of the company and where it is headed.
Does every company require a full-time CFO?
A full-time CFO is a position that is rarely filled during the earlier days of a company’s journey. Young companies often find they are best served with a part-time, outsourced, or interim CFO to offer them critical advice, liaise with the board, and assist with funding. With an interim CFO, the company’s CFO exact needs are met, no more, no less.
What is interim finance?
For companies that need to bridge a talent gap or have a one-time need for finance and accounting expertise, interim finance solutions can be an invaluable resource. On a part-time or occasional basis, an interim CFO, controller or other finance expert can serve a critical role for a particular project or provide ongoing mentorship, training and guidance.
An interim CFO provides financial leadership at an essential time for a company, on an ongoing basis or for a period of time (such as for a maternity leave or following a resignation). Sometimes, an interim CFO’s relationship with a company can endure for years, as the CFO expert is available for a certain number of hours per week, or days per week, as needed, whenever the company explores growth opportunities and seeks occasional strategic finance advice. The interim CFO could help hire a full-time CFO when the time comes or provide valuable input to ensure the company is left in good hands.
An Overview: The Role of an Interim CFO
Here are some of the many responsibilities an interim CFO or interim finance manager could fulfill for a company:
Companies seeking interim accounting and finance expertise often scramble. Someone in a vital role has just departed or a challenging issue has to be dealt with immediately. They have realized that they do not have the resources or time right now to hire and train a new full-timer. They need someone to get the job done. But what is that job exactly?
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Unfortunately, when someone departs, it’s often the case that few people know exactly what that person did day to day. There may be a system or process that only that person knew extensively. When you can rely on interim accounting and finance experts to come in and help make the finance team whole again or untangle a mess previously left behind, you can put your company on proper footing again.
When your company faces an in-between time for a critical finance role or needs senior-level guidance on an ongoing basis, you need to move quickly. Our consultants do not need days to ramp up. They swiftly and seamlessly become a part of every finance team they join and get to know the goals their client is pursuing.
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It’s a different dynamic than hiring someone working through a temp-to-perm firm, and in many cases companies find an interim finance consulting firm is the best solution for them at this time, and over time. We have many repeat clients who turn to us again and again when they are up against a new challenge or a financial leadership transition.
With a steady focus and a proactive, practical nature, finance and accounting consultants from RoseRyan immediately notice improvements that can be made and bring insights and clarity to processes and workflows that can support your business. We also lift up the skills of the team, and offer a perspective that will prove to be critical for a company’s need to make the right informed decisions.
Bridge a skills gap, add a layer of financial leadership or bring in some expertise for a one-time need. RoseRyan interim finance pros get up to speed fast.
Plot out the way forward with the finance savvy of a smart controller who will own your accounting department and provide strategic insight. Keep your fast-moving company on course.
Fully grasp the manufacturing operational costs underlying your business. Silicon Valley’s lost art of cost accounting is alive and well with RoseRyan.
Reach out to revenue accounting aces to hold down the fort, streamline your process, make sure you’re doing it right and help others in the company get on board.
Masters of metrics and nimble at numbers, finance pros uncover actionable insights and truly understand the challenges—and the solutions—to realize growth.
“RoseRyan keeps sending me great people—I don’t have to go out and find them. And I love that if we ever need additional help or highly specialized expertise, they can reach into RoseRyan and get the right resource.”
Streamline your year end process and meet your deadlines with the help of our handy checklist based on the varied experiences of our finance and accounting pros.
Expanding the field of vision of an essential role
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On demand leadership and consulting services out of Silicon Valley specializing in the Finance & Accounting disciplines.
