Not all businesses have Finance Directors, and there is a common attitude that only large, enterprise level companies need them – and afford them. However, many growth businesses need help from a finance director before reaching enterprise level, understanding the role of a financial director can be the first step towards gaining the expertise of an individual that can literally make the difference between the success or failure of a business.The primary functions of a financial director can be summed up in six points:1. Finance Directors are responsible for managing the finance function of the business which would include overseeing such things as transaction recording, cash flow management, internal controls management and statutory reporting, finance department personnel management and development , external auditors and tax advisors.2. The FD manages the financial and business planning of the business, including budgets, forecasts, strategic business reviews, financial strategy, cash and finance requirements and formal business plans that can be presented to third parties such as potential investors.3. FDs manage relationships with important external interested parties including funders, bankers, outside investors, solicitors and corporate financiers as well as the aforementioned auditors and tax advisors4. A finance director with a commercial business background is often able to contribute to and manage functions such as IT systems, legal, HR, property and other facilities. Special projects such as mergers and acquisitions and internal change management are also often handled by the finance director.5. The FD will be the numbers interpreter and translator. A good Financial Director will not only produce good quality numbers using sound and robust systems and processes but will be able to describe what the numbers mean. Furthermore, this interpretation encompasses not only what has happened but what might happen in the future, using indicators and key metrics. The translation of numbers into facts on the ground is probably the main differentiator that a good Finance Director has over a good financial controller.6. Finally, but crucially, the FD is perfectly placed to be the business number two to the MD, the ideal business partner, devil’s advocate, conscience, voice of sanity and where occasionally necessary, the brake. A good FD can talk finance to finance people as well as present finance issues affecting the day-to-day running of the business in a clear and concise way to the management team.It might be logical to conclude that with all of these responsibilities, a Finance Director is a full time role required by bigger companies. However, more and more businesses are discovering that there is a crucial period in the life of a growing business where the skills and experience that can deliver the above services are required, but not on a full-time basis, and that a flexible Finance Director is a low risk, cost-effective bridge between using a bookkeeper/accountant combination and acquiring that first full-time FD.What is a “flexible” Finance Director?A flexible, or part-time FD does just about anything one would expect a permanent Finance Director to do, as long as it’s not illegal, unethical or immoral! Some clients have just a bookkeeper, others have a financial controller leading a finance team and the flexible finance director adapts to the resources of the client.Generally, flexible Finance Directors work on an on-going basis with clients on projects of strategic value but are also happy to oversee the finance function in all its entirety.Moreover, a flexible FD doesn’t go native as they are not working within the company full time. The main advantage this gives is the ability to retain an external perspective on issues. This can be very important when management teams in SMEs are often very overworked and do not have quality time to stand back from issues to see them in a fresh light.Lastly, having a flexible FD model enables growing businesses to afford that critical expertise at a fraction of the cost of a full-time Finance Director.
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A Home Seller’s Guide to Marketing Property
Are you planning to sell your house? Have you got no idea how?Marketing your house for sale can be taxing to those who have no idea whatsoever about the real estate industry. That does not mean, however, that it cannot be done. Home sellers, even those inexperienced ones, can succeed in this game. All they need is the determination to learn through the ropes and finding the right people to facilitate the professional guidance.The Value of MarketingSmart marketing can do so much for the home seller. It could mean a higher value for your property and an easier time getting your house off the market. Waiting time can be costly on your part, which makes your monetary gain bigger with stronger marketing strategy. Although marketing cannot take off the For Sale signage on your front lawn in a snap, it could make interested parties to call and ask about your property details. Receiving queries about your property for sale means that it has a good chance selling.Marketing your HouseAdvertising your property for sale is made easier with the Internet revolution. With such a widely accessible medium available, you would not have to think about huge marketing costs. Listing or posting your house online is easy and almost free. All you need to do is stage your home, take photos of it, and get those photos along with the property details online, where people would have the most access to it.Staging your house may cost some dollars. Why, business experts agree that hiring a professional home stager is more profitable. That means, you will need to hire someone to dress up your home and make it as inviting as possible. It could mean you need to spend some extra dollars but look at the brighter side, it also means perfect photographs that are likely to generate calls from prospective buyers.Choosing the proper venue to post your property for sale can be tricky. That is because there are millions and millions of websites to choose from. Then again, you need to pay attention to traffic because that equates to visibility for your advertisement. Perfect staging and high quality photographs worth nothing if they do not get the opportunity to be seen. To make a profitable investment out of this specific marketing effort, you must carefully choose a high traffic site to place your ad. Again, you will have to spend extra for this but it’s all worth the money. While you are searching for a couple of high traffic sites to pay for placements, start finding listing sites as well that will take your property ad free of charge. Remember, visibility is the key here. You need to be all over.Be AccessibleOn top of all the marketing efforts you might spend to fuel up the sale of your house, you must be reachable. Always be available for prospective buyer’s queries, requested tours, and whatnots. It pays to be accessible until after the deal is made and you finally have your client ink the contract sale. Imagine what damage it can make if a client turns his back on your house just because you were never there to assist his needs.