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Does your company need an interim CFO or finance manager?
Changes create new needs or perspectives. In both shorter and longer periods, many companies require additional hands to maintain calm in operations when unexpected changes occur. For example if your company is entering a new market, preparing for an IPO, making acquisitions, or undergoing a turnaround. Regardless of your situation, we offer consultants who can join your company and make a difference from day one by acting as CFOs or finance managers.
Interim Finance: Strengthen your business in times of crisis
It may be necessary to use interim assistance now and then for many different reasons. That's why our interim CFO services take account of the fact that all companies are different and can offer interim CFOs with expertise in various areas.
Do you, for example, need to implement effective strategies for cash flow management? Or do you need to develop and optimise financial processes and a reporting system to make better decisions?
In that case, you may consider an interim CFO solution from Basico.
An interim CFO achieves results in a short time. For example in the form of increased growth, specific projects that reach completion, or as an interim CFO during the time it takes to recruit a permanent CFO. And it may bring peace of mind to Finance once the position as CFO or Finance Manager has been filled.
Financial challenges that may be solved by interim assistance
There may be many reasons why an interim CFO could be a good solution for you and your company. Below, we have outlined four examples.
Do you need interim assistance before getting the right CFO on board?
An interim CFO can quickly stabilise your current situation, ensuring you calm, motivation and a solid overview of your processes.
Is an acquisition, divestiture, or an IPO knocking at the door?
Navigating complex financial landscapes during mergers, acquisitions, or turnarounds requires knowledge and experience. In this case, an interim CFO can ensure stability.
Are you about to establish or expand a Finance function?
When Finance is growing, new requirements arise. An interim CFO can help meet these and prepare the function for growth in the longer run.
Are you about to implement new business models?
The development of systems and models is never at a stand still. An interim CFO can secure the implementation of your new system on time and budget.
Case: How to create a turnaround during a financial crisis
Imagine the following situation: You work in a large food group with a turnover of DKK 500 million across four companies located in Denmark and Germany. For three years, the group has had significant losses and a negative cash flow, leading to financial difficulties.
However, as if that wasn't complex enough, you're also lacking a CFO in the middle of the crisis.
This has resulted in a major headache. Because if you are to carry out all the projects that have been launched to turn the ship around, you need a competent CFO.
In this case, the solution was to engage Basico, which provided an interim CFO until a permanent CFO had been engaged.
Subsequently, within a mere 15 months, the group transformed from a loss-making situation to profitability and achieved an annual improvement of more than DKK 30 million compared to the previous two years.
Along the way, the interim CFO ...
- developed a new investment policy
- made ongoing forecasts on operating results
- implemented cash flow generation.
In addition, a profitability analysis was conducted on all products, which led to the decision to phase out 20 per cent of the products. A comprehensive turnaround plan was also prepared with clearly defined must-win areas critical for the group's survival.
Because the interim CFO knew that if the company was to survive the financial crisis, it was about ...
- cutting to the bone and making big decisions
- regularly updating profitability analyses at product level, as changes in production and market conditions affected the products' contribution to earnings.
And thus, an interim solution created great value for the group, which achieved a comprehensive turnaround, a deeper understanding of cash flow, and peace to work in Finance.
Get an interim CFO who can support your din vision by choosing us
We are dedicated to understanding your specific situation. And it's our goal to offer an interim CFO solution that suits your company's current challenges, can support your long-term vision, and help you navigate the financial future of your business.
Contact us today to learn how an interim CFO may be the solution for you.
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Let us help you identify, evaluate, and hire the best qualified candidates for your company’s key positions. If you team up with us, you’ll get consultancy about and recruitment for executive, management, and specialist positions within in areas of expertise: Finance, Finance IT, Legal, and People & Payroll.
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A position as a permanently employed consultant with Basico is for those who are motivated by challenges, and who would like to work for a consultancy firm with well-known colleagues. Our consultancy firm allows you to put your experience into perspective, just as you get a chance to influence your own career path. Where it goes depends on what is important to you.
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Basico's CFO Services help businesses operate and optimise their Finance functions.
No matter your need, we can help you have a great start and cross the finish line, and we offer both operational and interim assistance focusing on the Finance function of the future.