What does an Interim Controller/CFO do?
An interim controller/CFO temporarily jumps into a company to help them when one of the company’s own controllers or its CFO is temporarily unavailable. In most cases, companies need the interim service when an employee resigns. An interim controller/CFO will then quickly familiarise themselves with the company and its processes in order to be able to suit the needs of the company until the company has managed to employ a replacement. Finding a replacement usually takes a few months, but once the new replacement is found the interim controller will also help with the orientation and make sure that all necessary knowledge is transferred.
This service includes everything that controllers normally do in companies such as creating financial models, budget forecasting and reporting to management. In addition to this controllers from Greenstep can help with all kinds of ad-hoc projects such as seeking financing from the government or private investors. These projects are generally conducted in tight collaboration with the client company.
An interim CFO will be responsible of an agreed level of the company’s financial services, work as a partner for the company’s management and support the company’s business and strategic management from an economic point of view. Also, he/she will regularly analyse and report the financial situation of the company to the managers, participate in the setting of targets, advice the management in economic issues, and according to what is agreed upon, also be responsible for other CFO-services, for example process development and funding.
The biggest benefit of interim services are the reports the customer receives, which the customer can use to make decisions that will guide the company towards improved profitability. In other words, the customer receives a good idea of their own financial situation and what measures must be made in order to manage the business towards profitable growth.