The CFO Support Program

Many businesses cannot afford the cost of bringing an experienced CFO or Controller into the organization; in fact, they often don’t need a full-time person at this level. However, there can be times when they would really benefit from the guidance of an experienced financial manager: perhaps during the start-up years, in a period of expansion, or simply when problems arise.

Brian Watson, the principal of BW&A, can provide that support on a pre-planned, part-time schedule. A typical arrangement is for 8, 16 or 24 hours per month, on a fixed monthly retainer. Some of the hours are planned as on-site days or half-days, with the remaining hours available for phone discussions and e-mails, on-line web-conferencing, and for reviewing reports or dealing with other issues. Whenever possible, he will adjust his schedule to accommodate specific events, such as management meetings or to meet with customers, bankers or investors and while he does keep time-logs of course, he tries to avoid running the clock on every phone call or e-mail.

The benefit of this arrangement is that it gives our client continuity of access to the insight and expertise of an experienced financial executive at a very reasonable cost. Brian can provide advice and assistance on day-to-day issues as needed, as well as on broader strategic questions. He can provide input on the company’s ongoing financial performance, give guidance to accounting staff, advise on systems and reporting improvements, assist with cash management and financial planning, and generally act as a valuable “sounding board” for management.

Our clients have found this can be an effective arrangement; contact Brian Watson to see if this might be appropriate for your company.

Interim Management

Our CFO Support Program can also be adapted to suit other situations: for example, where there is a need to train in-house financial staff; or to provide support during the extended absence of manager due to sickness or parental leave; or for special projects such as major system implementations, internal reorganizations or business acquisitions.

On these occasions, a more intensive, short-term financial role may be needed. One effective approach is for Brian Watson to take on an interim management assignment as a temporary member of the management team. If there is a need to fill a sudden vacancy, he can take a temporary “hands-on” role to provide continuity of management within the department, while assisting in the process of finding a replacement.

Our associates also undertake similar interim management assignments in other functional areas such as production management, production engineering, purchasing and materials management, and for systems implementation projects.

The particular circumstances of your business will determine the best approach to take when you need additional resources on a part-time or temporary basis. Contact BW&A for a confidential, no-obligation discussion about your needs and how we may be able to assist you.