If you consider what sets companies like eBay, Alibaba, Netflix, Google, Starbucks, Apple, Cisco and Dell apart from other companies, their ability to continuously innovate and create high growth will probably come high on your list.
So should the fact they’ve all successfully transitioned from start up to scale up status without losing their ability to be dynamic and entrepreneurial.
Then there’s the fact they’ve helped create thousands of full-time and part-time jobs throughout the world.
The idea of hiring even a part-time FD may seem to some SMEs a bit OTT—like paying Quentin Tarantino to make a 90-second home page video or booking Wembley Stadium for the company’s five-a-side friendly football match.
But for companies whose ambition is to get into and survive the coveted scale-up phase, hiring a part-time FD makes perfect sense. They know that they’re getting a finance veteran, someone with big business experience, who can provide the guidance they need to grow rapidly and help them to avoid the costly mistakes that so many ambitious SMEs make as they attempt to move into the Big League.
Artificial Intelligence (AI) is already transforming the way in which financial services companies are doing business.
More and more of them are using AI to process information on their customers, cut costs, save time, monitor behaviour patterns, assess credit quality, automate client interactions, analyse markets, assess data quality and detect fraud.
A pwc Digital IQ 2017 survey found that 72% of business decision makers believe AI will be the business advantage of the future. About 52% said they’re currently making “substantial investments” in AI,
You shouldn’t be surprised to discover that Meryl Streep, Robert De Niro, Hugh Jackman, Gary Oldman among many other Oscar-winning actors and actresses bear a grudge against Finance Directors.
It’s easy to understand why. For although the likes of Streep and Oldman have achieved fame, fortune and critical acclaim, they can usually only inhabit one role at a time. They take it on for a few months and then move on to the next.
If you’re looking for a quick way to cut costs, boost efficiency and improve productivity then consider outsourcing one or more of your business’ support processes.
Outsourcing has many benefits and can give you a greater competitive edge in your market. It allows you to tap into a large international talent pool and benefit from external expertise. Your outsourced providers can provide services, innovative approaches, and the latest technology along with cutting-edge solutions that your in-house team might be unable to provide.
Managing cash flow is critical to the success of any business. Get it right, and shareholders, creditors, and employees are happy. Get it wrong, and the company could end up on the ropes like Carillion.
Cash flow problems can beset even profitable companies, particularly those experiencing rapid growth.
So, how do you protect your company from future cash flow issues?
Cost-cutting will have a more immediate impact on your bottom line than revenue-raising efforts.
A funny thing happens on January 4th. It’s the day traditionally when people decide the mammoth New Year goals they set with such high hopes well and truly suck.
They look in the mirror and see that despite FOUR DAYS of exercising and dieting they are still not marathon or beach-ready.
By January 5th, the new running shoes will have been pushed to the back of the wardrobe and the bathroom scales will have been shoved out of sight.
Imagine this: the co-founder of a multi-million-dollar HR management software company with almost 500 employees likes to micromanage to the point he and not the HR department has sole approval over employee benefits.
Likewise, when any of those hundreds of employees requests time off for holidays, it’s he and not the HR department that says ‘yes’ or ‘no’.
The company doesn’t have a dedicated IT employee to fix computers or printers because that same co-founder believes its gifted engineers should be able to resolve any IT problems that occur—no matter if doing so pulls them away from developing products or resolving customer problems.
When your company is facing yet another cash flow crisis caused by late paying customers, it can be hard to believe there might be a solution.
But there are steps you can take to overcome the problems delinquent payments cause and to avoid them happening again.
Late payments are something that hundreds of thousands of SMEs experience. Of the 1.7 million SMEs in the UK 640,000 say they have to wait beyond the agreed terms for payments,
Santa Claus, now in his 1,747th year, reveals for the first time how his part-time Finance Director helped Christmas Inc. claw back from near-disaster.
“Last year we were hit by so many problems. Money problems. Health and safety issues. Capital funding problems. Bad PR. The lot.
“Someone posted a story on Facebook last August that said I hated mince pies and was allergic to milk.