Frequently Asked Questions.
How does a fractional or part-time FD differ from a full-time FD?
A fractional FD offers the same level of expertise and strategic financial guidance as a full-time FD but on a part-time basis. This arrangement is ideal for businesses that don’t require a full-time FD or want to avoid the expense of hiring one. You gain access to top-tier financial skills tailored to your needs, with the flexibility to scale services up or down as your business evolves.
How do I know if my business needs a fractional FD?
If your business is growing and encountering operational or financial management challenges but isn’t ready for a full-time FD, a Fractional FD could be the ideal solution. Indicators that you might need one include difficulties in managing cash flow, the need for more accurate and timely financial forecasts, or preparing for internal projects like system upgrades or operational restructuring. A Fractional FD provides the financial management expertise you need, exactly when you need it, ensuring your business continues to run efficiently and profitably.
Can a fractional FD work with my existing finance team?
Yes, a Fractional FD can seamlessly integrate with your existing finance team. Their role is to strengthen the team’s capabilities by offering hands-on management, mentoring, and guidance. They collaborate closely with your team to optimise financial processes, enhance cost control measures, and ensure the accuracy of financial reporting. This partnership ensures that your finance team is well-supported, and that your business benefits from the practical, day-to-day financial oversight that drives better operational performance without disrupting routine activities.
How quickly can a fractional FD start working with my business?
A Fractional FD can typically begin working with your business within a few days to a couple of weeks, depending on their availability and your specific needs. The onboarding process involves a thorough understanding of your business operations, reviewing current financial processes, and setting clear objectives. This swift deployment is one of the key advantages of hiring a Fractional FD, enabling you to address pressing financial management challenges or capitalise on opportunities for operational improvement without delay.