Finance Director Service (FDS)
Our FDS team can take complete control of the finance function, act as interim Finance Director, or even act as support for a dedicated Finance Director.
Complete Finance solution
Many owner managed businesses have the need for a dedicated Finance resource with a wide array of skills. Oftentimes the skills required are at opposite ends of the spectrum; ranging from data input into SAGE at one end of the spectrum to negotiations with the Bank for additional funding at the other end of the spectrum. In our experience it is very difficult to find this skills mix in any one person. A Finance Director (FD) will not want to do data input and a purchase ledger clerk will not be capable of doing a deal with the Bank. By the same token many such businesses cannot justify the cost of an entire finance team encompassing a full time FD, an Accountant and an Accounts Assistant.
APT have recognised this need in the owner managed business market and developed a Finance Director Service (FDS). It works off the concept that you might not need a FD 100% of the time but perhaps only 20% of the time. The rest of the time you might need an accountant or an accounts assistant. APT have created a ‘Balanced Skills Mix’ that means we will work with you to create a tailored solution that is cost-effective and satisfies your requirements.
Our FDS team is made up of Finance Director’s and accountants who have acted for small, medium and international corporations. They are trained in best practice and are able to introduce systems, processes and procedures to improve business information and performance.
You might need a FD for a few weeks to get your systems in order, and then scale the FD’s involvement back to once a week or once a month to attend Board meetings. The FD Service means the accounting can be done cost effectively by APT and you still have the input of a senior FD to drive Banking relations, Treasury functions or development of Budgets and training and monitoring Departmental Heads.
The FD Services that our clients have found beneficial to their business are:
- Interim Cover (eg. Maternity cover, sabbaticals, sudden departure)
- Corporate Crisis
- Implementing Cost and Staff Reductions
- Additional Project Resource
- Implementation of our Tax Strategies at Client Site
- Board Participation
- Financial and Management Accounting
- Financial Modeling and Business Dynamics
- Business Valuations
- Cash Flow Planning
- Budgeting and Forecasting Solutions
- Business Plans
- Foreign Currency Hedge Strategy
- Sourcing Debt and Equity Funding
- New Accounting Systems and Implementation
- Business Intelligence
- Operational Performance Reviews
- Feasibility Reviews & Project evaluation
- Cost/Benefit Analysis
- Due Diligence
- Risk Assessment
- Performance Improvement and Identifying Key Performance Indicators
- Training Departmental Heads in Financial Matters, Budgets and Key Performance Indicators
APT’s FDS team can hit the ground running at relatively short notice. We adopt a 'hands-on, problem solving attitude’ to the task at hand. We are results orientated and are able to deliver solutions on time.
Our FDS team prides itself on its ability to look beyond the balance sheet to identify real opportunities and works collaboratively to help you achieve better business outcomes.
The FDS is a popular resourcing option because of:
- Experience – we hit the ground running
- Objectivity – we offer a fresh perspective
- Accountability – we roll our sleeves up and get involved
- Effectiveness – we operate at Board level to effect significant change
- Commitment – we are only ever as good as our last job
Professional support for the FD
Whilst the FD Service was designed to provide an Interim Finance Director to clients or to even take ownership and control of the Finance function, we have noticed a growing trend for FDs in the mid-corporate market to call in APT for Finance Director support.
With increasing pressure on today’s Finance Director from stakeholders requiring timely, relevant and accurate management information (financial and non-financial) we encounter many FDs who find themselves in need of competent external resources committed to Finance initiatives. Often times the FD is faced with the challenge of human resources that are not sufficiently skilled or incentivised to complete tasks, assignments or projects that he or she could do if only they had the time. APT can help with this.
Our FDS approach
Step 1: Initial review and assessment of the issues that need to get the Finance department to ‘steady state’. This requires analysis to understand the gaps between where you are now and where you need to be.
Step 2: Document SMART (Specific, Measurable, Agreed to, Realistic, Time-frame) objectives and agree them with the client.
Step 3: Projects are identified and separated from regular ‘steady state’ work.
Step 4: Agree scope of the work, budget and time-frame
Step 5: Start the assignment!
If special or additional projects are required you have a team who understand your business and that can readily be mobilised to tackle the projects.
APT can provide you with a cost-effective solution that satisfies your needs.
Please click here for the case study on the Finance Director Service.
If you are interested in finding out more about the Finance Director Service please contact us.