How a part time finance director can make a difference

I’m delighted to have been part of Silver Lining Solutions’ celebrations earlier this month winning the UK Business Angels "Best Female Investment of the Year" award (the entry was nominated by Catapult Venture Managers and the award was supported by the Aspire Fund). I believe that the Board’s decision to bring a part time finance director into the business has contributed towards winning not just this award but also new business contracts, new sources of investment and improved brand recognition for the company.

Margaret Finnegan and Silver Lining SolutionsMost successful businesses recognise that winning is a team effort reached through working towards shared and achievable goals. In this case the team, led by CEO Amanda Westwood, has benefited from a clear focus driving the company towards achieving greater success year on year reflected in its financial results and the interest shown by investors and customers alike for its performance optimisation solutions.

How can bringing in an outsourced finance director deliver a winning formula? A part time FD can provide an all round and flexible "support role" to enable the CEO to focus on the bigger picture and to provide the CEO with insightful company or industry information, helping with those big decisions when necessary, providing the often all important statistical report and analysis needed but without the cost and commitment of a full time, board level FD.

Working with Amanda as her part time FD, usually on a one or two day per week basis, I can see first hand how a part time resource can make a real difference to a company at a strategic level in a very cost-effective way. As a supplier of outsourced services I am simply providing a vital, internal support function; combined with my expertise I’m delivering a flexible "safe pair of hands" to depend on and refer to when required and a sounding board for new ideas. And to the external world I am presenting a credible face to investors as a member of Silver Lining Solutions' senior team.

Could your business benefit from a part time finance director to provide that winning edge?  This article forms the basis of a case study for outsourcing the finance role in any organisation.  If you would like to know more about how MY04 Consulting could help your business, then please email me or call me on 07881 974 444.