Part-Time Finance Director Service
Contact Finance Cornerstone if you’re ready to transform your owner-managed, digital company with the guidance of an experienced Finance Director.
Looking for a Financial Director to Match Your Ambition?
In an ideal world, what qualities would you look for in a Finance Director or Chief Financial Officer? Without a doubt, someone with a proven track record. Someone who can maximise your profits and support business growth. A skilled professional who will tell it like it is and change your company culture for the better. A person who puts the ‘director’ in FD!
Chances are, the calibre of person you’re imagining is out of your price bracket on a full-time basis.
So what are your options?
You could fulfil the role yourself. As the owner and CEO of your business, you no doubt started out by taking the reins of your company’s finances. But getting bogged down in day-to-day finances is NOT the best use of your time.
You could employ an affordable, full-time Finance Director. But unless you get very lucky, they are unlikely to have your ideal skillset. Sure, they might get the ‘job done’, but would they understand the digital sector enough and have the skills to actively scale your business?
The best solution is to hire a part-time Finance Director with the skills, industry experience and energy your business needs to elevate it to the next level.
Who our Part-Time Financial Director works with
Finance Cornerstone provides FD services on a part-time basis to ambitious, owner-managed businesses in the digital sector. If your digital company turns over between £1m and £10m but you feel you could get more out of your finance function, let’s talk.
What can a Part-Time Finance Director do for me?
Part-time Finance Directors can work wonders for your business, but it all starts with your ambition. If you set the bar high then we can help you reach it.
The gift of time
Time to spend developing your business strategy and improving your operations without sweating the day-to-day numbers.
Improved credibility with investors
It's far easier to secure funding when your numbers tell a cohesive story.
Motivation and direction
We exist to inspire action and are vocal with our advice!
A valuable sounding board
Finance Cornerstone has a wealth of experience not only in finance but the digital industry as a whole, so we are an ideal partner to bounce ideas off.
Affordable expertise
Part-time finance directors are cost effective. You can tap our experience and skill for a fraction of the cost of a full-time FD.
Cut costs and maximise profits
If there's a financial leak in your operation, we'll find it. With costs streamlined, we'll help you set objectives to achieve your ideal profit margin.
Achieve scalability
With your finances functioning properly in capable hands, your company can start to fulfil its plans for growth.
Our Part-Time Finance Director Services
Internal Systems
Designing internal processes is certainly not the sexy part of what part-time finance directors do. But they are the backbone and without them you risk your business becoming stagnant. Profit can only happen when you have stable and streamlined processes at your company’s core. Our first rule of thumb is that if you can’t describe a process, then it’s redundant!
Reporting
- Annual reporting. It all starts and ends with annual reporting. If your annual submission to Companies House is a source of anxiety, then your reporting needs a shake up.
- Quarterly reporting. The businesses we work with start to unlock their potential when they work in a quarterly world. Our approach is to set and review objectives on a 90-day rolling basis.
- Monthly Management Information. Timely anaylsis is the only way to make financial decisions count. Part of the remit of a part-time Financial Director is monthly MI reporting to provide a snapshot of your finances.
- Weekly flash forecasts. We produce weekly reports to measure performance against budgets and forecasts, and to maintain continuous focus on financial objectives.
KPI Setting
Without KPIs you are shooting in the dark. You need numbers to tell your story, or how do you know when you’ve hit your target? If you don’t know the destination then any old place is fine!
Every business is unique when it comes to KPI’s. There is no template for success, the business owners should dictate what they value most and steer the company towards it.
When setting KPIs, we encourage our clients to start at the end by stating in simple terms what they are ultimately trying to achieve. Then we can map the route to success in smaller, measurable steps.
There are two principles we always stipulate when setting KPIs.
- Less is always more. Just because something can be measured it doesn’t necessarily mean there’s value in doing it.
- KPI’s need to follow the SMART principle and be specific, measurable, achievable, relevant and time-bound.
Profit Improvement
You shouldn’t be shy about stating your financial ambitions – profit isn’t a swear word! Profit is an indication of strong business management and it creates opportunities.
Opportunities to invest in other businesses.
Opportunities to diversify revenue streams or products.
Opportunities to reward you and your staff.
The route to profit may be hard, but our guiding principles are simple:
- Sell More
- Sell More Often
- Increase Prices
- Reduce Costs
Cash Flow Management
If processes are the backbone, then cash is the oxygen of your business. Your company can plod along without making a profit, but not if it runs out of cash. Our part-time FD will introduce meticulous processes to keep your cash flow positive.
Budget Planning
When we talk to business owners about the importance of budgeting, one stat really hits home – only 42.4% of businesses in the UK survive beyond 5 years. Another thunderclap is that 50% of startups fail because they don’t have proper budgeting in place.
Your budget is not a static document. It should evolve as your business expands. Done right, it can help you to identify funding requirements and to set goals to aid your growth strategy.
Legal & Contracts
Good finance practices are ultimately about protecting a company’s assets, and that requires sound legal advice. One of the benefits of hiring a part-time Finance Director is that we have a portfolio of companies from which to draw experience from, so we can provide valuable advice on contracts and legal matters.
In addition, Finance Cornerstone has access to a skilled legal team which extends to the needs of our clients.
Why Choose Finance Cornerstone as your part-time Finance Director?
Finance Cornerstone was established purely to help digital companies to reach their full potential. You could not wish for a more experienced part-time Finance Director with a better track record in the industry.
As your part-time Finance Director, we will work IN your business with your finance team to make your finance operations accessible, transparent and a source of driving change.
For an initial discussion, please get in touch to book a FREE discovery call.
