Why a Financial Director is a Critical Member of the Team when it comes to Accelerating Business Growth

27/07/2017No matter what the size of a business, the ability to work
productively as a team is crucial to achieving long term success. Not only does
teamwork facilitate creativity in the workplace and improve the quality of
work, it also ensures that individuals and departments that have their own
specific targets and objectives to meet, work collaboratively with other parts
of the business in line with the company’s strategic direction.

When a business is at a stage where it is looking to
accelerate growth, understanding the company’s cashflow and ongoing financial
health is crucial to setting the strategic direction which in turn filters down
to the goals and objectives of individual team members and departments.

Having a Financial Director as part of the team is often
critical at this stage as they play a vital role in supporting several aspects
of the business including; providing strategic and financial guidance to ensure
that the company’s financial commitments are met; developing policies and
procedures to ensure the sound financial management of the company; and
providing advice and guidance to managers and staff to enable them to meet
their objectives.

While many businesses recognise the importance of having a
Financial Director and the positive impact they can make to their team and the
business, one of the main obstacles many encounter is the cost of a full-time
hire.

At CBHC, our Outsourced Financial Director Service enables companies
to overcome the cost-barrier allowing them to access a wide spectrum of Financial
Director advice and guidance that is specifically tailored to their individual
business requirements.

Gary White, Business Development Manager at CBHC, said “The
service has revolutionised our client relationships. We can establish where a company is now and
where it wants to be in the next five years; analyse how a company makes their
profit and providing strategic advice to ensure it is more successful; and
provide advice on maximising profits through sales revenues and maximising the
brand and intellectual property within the business.”

“While a core advantage for our clients is the obvious cost
benefits of having access to Financial Director advice as and when they need it,
without the need to engage a Financial Director on a full- time basis, one of the
key aspects that has made the service such a success is our ability to become
an effective part of our client’s team.”

“We work in partnership with clients to understand every
aspect of their business so that we can provide strategic advice on the key
areas of their business that facilitate growth and impact their bottom line.
Utilising the Xero accounting system, we have access to our clients financial
data anytime and anywhere which means we are always on hand to provide instant
advice and guidance whenever our clients require it. Essentially, our clients
get all the benefits of having a Financial Director as part of the team but at
a fraction of the cost.”

“This shows that while an effective team is critical to
driving business success, your ‘team’ does not have to be limited to your
internal staff.”

“At CBHC the value that we place in facilitating teamwork
and good working relationships with our clients often extends to including
clients in activities that are outside the usual business remit. Recently, a
team of CBHC staff along with several of our clients took on the Three Peaks
Challenge which involved climbing the three highest mountains in Scotland,
England and Wales in just 24 hours! Not only did we support each other along
the way to conquer the challenge, as a team we also managed to raise over
£10,000 for The British Heart Foundation and Farleigh Hospice.”

If your company is looking to gain the benefit of a Financial Director that will become an active member of your team without requiring you to hire them on a full time basis then do get in touch with us info@cbhc.uk.com