Yes, the part time finance manager is here to stay. Utilising the skills and expertise of a part time finance manager can yield excellent and cost effective results for a company. Companies that engage the services of an experienced part time finance manager experience consistent quality, reduced costs and peace of mind.
It must be said that engaging the services of a part time finance manager is a long term relationship that should have mutual benefits for both parties. It is a relationship that evolves over time. The finance managers that specialise in part time financial management and accounting services have chosen a career in outsourcing their services and expertise part time and are not undertaking this work as a stop gap or until they can find a permanent position elsewhere.
Choosing the right partner
Choosing the right partner is critical to the success of any part time model. There are two options available. The one, is to engage the services of a part time finance manager directly and the other is to engage the services of an outsource company that specialises in providing tried and trusted finance managers. Reputable outsource companies allow for greater flexibility that can adapt during growth or consolidation processes. Select your outsourcing partner carefully. You are selecting a business partner, not just a supplier.
Range of services
Financial executive outsourcing companies have a pool of successful and highly qualified finance managers who have had experience across a number of industries. Through their extensive talent pool, finance executive outsource providers are able to offer a range of executives which enable companies to work with the right executive for the job at hand. There is never any real substitute for the experience of people within your core team and ensuring the right cultural fit within your organisation is critical to your success.
Evaluating the value of a part time finance manager
Organisations need to constantly assess the value that a part time finance manager brings to their company, both from a cost and strategic perspective. The ever changing dynamics of the business environment such as changes in competition, the acquisition and retention of customers and the shifts in market will continue to take organisations in different directions. If the part time finance manager does not provide the necessary skills set and flexibility at competitive rates, then the organisation should consider different models that are more suitable for their specific needs.
Reliable references and proven track record
References will be able to provide an insight into the background of the part time finance manager, whether you choose to engage directly with or through an outsource service provider, always check and verify references.
With these factors in mind it is advisable that companies choose carefully and wisely when selecting a part time finance manager. Choosing badly can be a costly and unpleasant experience for all but getting it right can make a world of difference to your organisation.