There are a number of reasons why you may be looking to take on an interim accountancy contractor during an acquisition. Often a finance department will be under a great deal of pressure as a result of an acquisition. Perhaps your business is undergoing significant change or restructure, is undertaking a large project, or has secured investment. This might mean additional demands, increased cash focus and growing demand for resources.
Maybe a key member of staff has left, you’re undergoing due diligence, or there has been a change in your systems. Whatever your reason, there are many ways in which temporary staff can offer a lifeline for your business to keep everything running smoothly. Often, an interim contractor can add to your bottom line and help solve the pressures during an acquisition. But how?
1. Extra manpower
Temporary staff can help you drive forward growth by providing you with the manpower and resources needed at this crucial time. Typically they will be able to come in and help meet the immediate demands in the operational running of the business, which is often the area connected most with the bottom line. The results will be tangible and measurable. This will give your permanent staff the chance to focus on their job roles, but also will enable them to explore the broader concerns of the business.
2. Saving costs
If you are downsizing your company during the acquisition, there may still be some tasks that need completing during this time that you don’t have the staff available for, but who it would be too expensive or redundant to hire permanently. As such, interim staff can help to bridge this gap by providing temporary support without costing you a lot. This can help to keep the bottom line profitable.
3. Keep within covenants
Your business may need to keep within covenants on the debts you have, and temporary staff can be an easy, efficient and manageable way of doing this. They can provide you with the skills and talents needed, but without the long-term commitments. Following an acquisition there can be an increased cash focus in the business, and bringing in the additional resource and skills required to do that without long-term investment can be beneficial – especially within your finance department.
4. Extra support
When hiring a skilled interim contractor, you don’t just get another bum on a seat if the right person is hired you also get a whole host of extra help this could include support in building cash models to help you grow your business, knowledge of how to improve your cash cycle and cash flow, management support, overhead recovery, and product profitability support, as well as guidance with your systems and processes. This can all be hugely valuable in running a successful business.
At BTG Recruitment we specialise in accountancy and finance recruitment. We work solely with employers like you who are looking to secure high-calibre candidates for interim, fixed or long-term roles. To see how we could help your company’s finance team attract bright, effective individuals, get in touch today.
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