With Christmas just around the corner, people across the UK are now beginning to take time off from work for an early & extended Christmas holiday. The winter months also bring the dreaded flu season which will inevitably take staff out of work for unscheduled periods of time. Some employees may even believe that it’s the right time to leave their current position and look for new career opportunities.
So where does this leave business owners?
With a loss of staff, especially in your finance department, for whatever the reason may be, there will be a great level of disruption to daily operations. Projects will be put on hold, billing and cash collection may slow down, payments won’t be getting processed, reporting will be delayed and inefficiency begins to take over. Additional knock on costs such as cost over-runs may also arise. This can potentially lead to disappointing clients, overloading other members of staff during this busy period and increase the threat of losing revenue/cash and profit.
To help avoid this scenario, it would be wise to consider the benefits of hiring a part-time finance director or financial controller during the winter break to help maintain stability and fill the gap left by the absent member of staff. You may also find that a part-time person is all you need in the longer term. Check out how our team of finance experts can help to support your company this Christmas.
Our Finance Directors, Controllers & Business Advisers have verifiable experience in a wide range of industry sectors and have worked alongside business owners and key decision makers in some of the most ambitious businesses. Our team constantly maintains a highly effective balance of commercial experience and theoretical knowledge required to achieve outstanding results, even in highly demanding situations.
For example, many business owners run out of cash whilst still profitable because they are unable to meet financial obligations when they become due, so profitability should not be the sole aim of a business. The EFM team can help detect and take steps to patch up your company’s cash leaks to ensure your cashflow management is more effective, with the use of cash planning tools such as a cashflow forecast and a comparative analysis.
One of the biggest advantages of hiring a part-time finance specialist is the price. As a business owner, you’ll be looking to save as much as expense as possible. Investing in a part-time senior finance person will not just save your company from disorganisation, but cost as well. EFM offers an efficient, ‘pay as you go’ service. Companies can now benefit from an experienced Finance Controller or Director’s expertise on a part-time basis, thus you only pay for the hours needed and used, and you do not have to pay large one-off recruitment fees.
Your business success depends on sound planning and effective execution. When hiring an EFM FD or FC for your company, you’re essentially acquiring a fresh set of eyes, to help assess hidden opportunities, unlock trapped cash and prevent any submerged threats that may try to surface. Our team will collaborate with your team to support, encourage and challenge the business, delivering the best outcomes for your investors, funders, staff and customers.
As each member of the EFM network is different, your company has the chance to capitalise on unlocking new strategic opportunities by harnessing their collective skills a finance team of over 70 people, led by one dedicated person, brainstorming new ideas and turning them into a reality. By hiring the support of a part-time associate, you can continue to unlock internal and external opportunities and help increase your company’s revenue, cashflow and client base.
EFM is a nationwide team of Finance Directors, Business Advisors and Financial Controllers. We provide ‘pay as you go’ financial management services to businesses that want the benefits of an experienced finance professional, but without paying a full-time salary. Our team of over 70 EFM experts are spread nationwide across the UK. Each EFM person has their own set of skills harnessed over time and unique qualities, ensuring a bespoke and professional service.
If you’re interested in finding out how our part-time, nationwide team of finance professionals can help to support your business this winter, get in touch today! Contact our central team via email or call 01442 8176 .