There are a number of points for consideration before deploying an interim FD.
- Client identifies the need and has a clear understanding of desired outcomes
- Engage with an experienced resource with a track record of delivery
- Work closely with the interim integrating quickly into the management team
- Communicate internally the purpose and objectives with appropriate staff
- Discuss with the interim scope of the support project and agree terms of reference
- Deploy to suit the urgency, normally within a short period of agreeing terms
- Agree terms and conditions in written document, client engagement letter
- Take up references
- Have an indication of support period length and key milestones and budget
Costs to engage an interim FD is an important aspect. Buchanan Holley is paid on an agreed straight day/rate basis with no hidden extras or additional costs. Any out of pocket expenses due to business travel or visits requested by the client are charged at cost.
As an interim FD service, Buchanan Holley have demonstrated the ability to deliver in a wide cross section of industry sectors underpinned by client testimonials. Our clients have recognised the benefits of deploying an experienced interim resource as a cost effective solution.
Interim Management delivers
- Independence of thought and Impartiality
- Emotional detachment from issues
- Balance to the management board
- Challenge to the status quo
- Fresh ideas and thinking
- Catalyst for change
- Skills and experience to make things happen
- Ability to take 360 view of the business
The right support at the right time can have a significant impact on outcomes. Many businesses use interim management as a means to move the business forward, without the high associated cost of recruitment fees and permanent employment costs and commitments.
Stewart Shaw – Managing Director
“Barony Universal has been supported by Bob at Buchanan Holley since our early stage start up and through various stages of growth and development. Bob provided solid FD level support from our early start-up period contributing greatly to our successful development. Buchanan Holley also assisted in an interim FD capacity through a particularly difficult turnaround phase after the company had received development capital from NVM (Northern Venture Managers). The business has since gone onto a very successful business exit”