Why you may need interim CFO and finance support?

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Interim CFOs and finance support can be valuable resources for academy trusts in the UK during periods of transition or when additional financial expertise is needed. Here's how interim CFOs and finance support can benefit academy trusts:

 

1. Financial Expertise: Interim CFOs bring extensive financial knowledge and experience to the academy trust. They can provide guidance on financial strategy, budgeting, financial reporting, and compliance, ensuring that the trust's financial operations are efficient and effective.

2. Transition Management: Interim CFOs can assist academy trusts during periods of transition, such as the recruitment or departure of a permanent CFO. They can step in quickly to maintain financial stability and continuity, ensuring a smooth transition for the trust.

3. Special Projects: Interim CFOs can support academy trusts with specific financial projects or initiatives. For example, they can assist with financial system implementations, growth, due diligence, onboarding of new academies, cost-saving initiatives, or financial restructuring.

4. Process Improvement: Interim CFOs can review and enhance financial processes and controls within the academy trust. They can identify areas for improvement, streamline procedures, and implement best practices to enhance financial efficiency and accuracy.

5. Financial Planning and Analysis: Interim CFOs can provide in-depth financial analysis and forecasting to support decision-making. They can evaluate financial risks and opportunities, assess the financial impact of different scenarios, and provide insights to inform strategic planning.

6. Training and Development: Interim CFOs can provide training and mentorship to finance teams within the academy trust. They can impart knowledge, share best practices, and help develop the skills of existing finance staff, leaving a positive and lasting impact on the finance function.

7. Flexibility and Cost Efficiency: Interim CFOs offer flexibility in terms of engagement duration. Academy trusts can bring them in for a specific period or project, avoiding the long-term commitment and costs associated with hiring a permanent CFO whilst you are setting a trust up.

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What support do we provide?

 

We have highly experienced active CFO’s that have years of experience of working within trusts.

 

• We provide Interim CFO support whilst you fill your skills gap.

• Depending on your needs, you can select the number of days you would like the support from us

• We provide expert advice and leadership for your finance function.

• We can offer all levels of support from recruiting your next CFO to guiding and developing the skills of new or existing CFO’s.

• We are already familiar with many of the key finance systems including PS Financials, Sage, IMP, HCSS, BPS.

• We ensure compliance to the requirements of the Academies Trust Handbook.

• We provide strategic advice to the Executive team and your Board.

• We can assist with you the adaptation of ICFP model.

• We can guide you through the centralisation of your finance function

• We can plan and navigate you through the reserves pooling, providing step by step guidance on best course of action by using hearts and minds approach