Financial Management Advisory Services
Sometimes a research company outgrows its financial management capabilities. Financial results that are late or incorrect, inability to explain financial performance, and high staff turnover are obvious signs that a company does not have the right people and systems in place. Sometimes, the signs are not so obvious.
Based on its partners’ experience in the industry and its work with dozens of companies across many specializations, Cambiar can quickly identify your company’s financial management needs and assess the extent to which they are being met. We can define the information that you should be receiving to manage your company and lay out the best way for financial operations to be handled. We will recommend any changes in systems, staffing, and procedures necessary to deliver the operations and information that you need.
Developing Systems and Staff
A company may have clearly defined its financial management needs, but not be able to execute them. Sometimes new staff members have great potential but lack guidance, or long-time members need coaching in order to adapt. Sometimes a financial systems implementation will fail – leaving new systems only partly working and work being done in duplicate for an extended period. A merger or acquisition may drive the need to integrate financial staff and systems.
Cambiar partners can work with your staff over a period of time to strengthen their skills, focus their efforts, and lead them through change. When staffing changes are needed, we can select, train, and support them during their initial period with the company. We can bridge the gap between finance staff, the users of financial information, and financial IT consultants to implement modern integrated systems.
The loss of a top financial person can leave your company’s financial staff leaderless. You may need someone who understands the research business and can step in immediately. In a time of transition, it may not be wise or cost-effective to bring in a permanent CFO right away.
Cambiar can provide senior financial management on an interim basis. Working remotely and on-site in combination, we can provide stability to your team and guidance to senior management while needs are assessed and until a permanent person is brought in. Interim CFO services can also be provided while developing systems and staff, or until an ownership change takes effect.