Interim CFO
An interim CFO temporarily fills the role of full-time chief financial officer following the departure of the previous CFO in mid-sized and larger companies.
As former enterprise CFOs at companies ranging from startups to billion dollar public and international companies – and acting as the interim CFO – a CFO Edge partner quickly comes up to speed as a valuable member of the executive management team.
In this role, we are exceptionally well-versed in providing the financial oversight and management expected of a proven CFO, as well as in correlating and presenting financial data in ways that support improved management decision making.
With a first-hand view and clear understanding of the role’s responsibilities, we add value to the search for a new full-time CFO by identifying skill sets required and assisting in training. Our interim CFO role ends with a new CFO in place.
Interim CFO
Skill Sets
- High-caliber financial leadership
- Authoritative financial expertise
Focus
- Role & responsibilities of a full-time CFO
- Filling role full-time for an interim period
Duration
- Begins with departure of previous CFO
- Can help recruit a new full-time CFO
- Ends with hiring of new full-time CFO
On-Site Presence
- Full-time presence on-site
Value of an Interim CFO
The right interim CFO does much more than simply occupy the role until a new CFO is hired.
A CFO Edge partner is dedicated to adding value by discovering and recommending opportunities to improve performance and enhance value.
The value of bringing in an exceptionally well-qualified interim CFO includes the following:
- For the executive management team, the board of directors, investors, employees, customers and all people connected to the business, the continuity provided by an experienced interim CFO elevates confidence and ensures the former CFO’s departure does not raise concerns.
- A proven interim chief financial officer has the know-how to mine past financial data, correlate it, and present it in forward-thinking ways to improve performance.
- An accomplished interim CFO’s expertise guarantees that strategic initiatives get done and that growth opportunities are acted upon in competent and timely ways.
- A high-caliber CFO professional is well-equipped to communicate with investors, attorneys and other professionals – and experienced in negotiating favorable contracts with vendors, investors and other partners.
When to Think of an Interim CFO
A proven interim chief financial officer can add value in areas like the following:
- To support improved business performance and maximize shareholder return, communicate a focus on excellence in all company areas.
- Apply best practices to help safeguard the organization’s assets and ensure finance functions operate in the most effective ways.
- Enhance reporting of financial and operational data so that it has a crystal-clear focus on high-value, actionable areas and drives better management decision making.
- With an objective and fresh perspective, review accounting systems, budgeting, planning, processes and controls to ensure they meet GAAP compliance and reporting standards.
- Assess accounting resources to determine the right number of people have the right skill sets and are efficiently and cost-effectively allocated.
- Where appropriate, recommend bringing in more professional managers to better meet challenges and improve performance.
Visit our Solutions Grid to see over 60 areas in which we deliver interim CFO capabilities.