Reach your financial objectives with a modern-day outsourced Financial ExecutiveJana Engelbrecht
In today’s business landscape, the need for an experienced Financial Executive is evident, but not all companies can justify a full-time hire for this role.
This is where The Finance Team (TFT), with more than 10 years of experience placing these executives in both SME and listed corporates, offers flexible solutions by outsourcing exceptional Financial Executives on a part-time or interim basis.
Strategic role for Financial Executives
These Financial Executives play a pivotal, strategic role within the organisation, distinct from accounting and bookkeeping functions. Factors such as intensified corporate competition, technological shifts, economic volatility, fluctuating exchange rates, tax law changes and ethical concerns necessitate a more strategic role for Financial Executives.
They are increasingly viewed as key team players in an organisation’s efforts to create value, as traditional methods quickly become obsolete in our rapidly changing world.
Primary role of an outsourced Financial Executive
The primary objective of accounting activities is to provide information for measuring a company’s performance, preparing financial statements based on registered sales and expenses. In contrast, Financial Executives concentrate on the actual cash flows related to income and expenses. This ensures the company’s financial health by planning and analysing the necessary cash flows for obligations and asset acquisitions, just to name a few. Financial Executives also evaluate the data generated by the accounting activity, create additional information and base decisions on thorough analyses. Their role is to offer accurate and easily understandable information about the company’s past, present and future operations, which is used in decision-making processes.
Reports relevant to decision-making
A proficient Financial Executive should produce financial reports illustrating the organisation’s financial position, operational performance and cash flows over a defined period through meaningful financial statements. They should generate management reports regularly, relevant to the decision-making process. These reports measure performance against predetermined targets, budget objectives, and industry-specific financial management performance standards, helping guide the organisation towards its financial objectives.
Contact The Finance Team today to find out how one of our part-time or interim Financial Executives can benefit your organisation.