Installing a Part-Time FD is a pre-requisite for an SME to Establish an Effective Finance Function
At www.secantor.co.uk we believe that a first stage in the process for SME's (for this purpose companies with a turnover of between £2m and £25m is to install a part-time FD. What does this mean? Well one of my roles in leading Secantor is to establish the required terms of reference in terms of how much time an SME might require to make a transformational step in its finance function.
Often this is the leap from an organisation simply producing information to remain compliant to producing relevant KPIs that support the rest of the management team so that the SME can enjoy "controlled" growth and maximise the use of scarce resources (often funding, but not always).
Too often, I hear people talk about technology solutions. Clearly systems are important in providing timely and cost effective MI but our belief is that each SME needs individual attention to ensure that what is produced is relevant to the company's needs. The key to all of this is getting the high powered FD working at the right sort of level and infill for lower levels to ensure that each role is cost effective and supplemented by accounting software and systems that are capable of being tailored to the needs of the company.
For further information contact Nigel Bacon CEO at Secantor.www.secantor.co.uk 07887 826824.
