Review And Strengthen Your Financial Systems, Processes And Controls.

At iFD, our Fractional CFOs specialise in designing and implementing financial systems, processes, and controls that enhance security, boost operational efficiency, and inspire confidence in the company’s stakeholders, particularly investors. We focus on building robust systems that mitigate risk, streamline operations and ensure compliance with regulatory standards.

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Why Review Your Systems, Processes and Controls?

A scaling company should frequently review and improve its financial systems, processes, and controls to ensure sustainable growth and long-term success. As a company grows, financial and operational complexities increase, and outdated or inefficient systems can create bottlenecks, lead to costly errors, and expose the business to unnecessary risks.

What Does the Service Look Like?

We will provide an experienced fractional CFO with the practical know-how to review your financial systems, processes and controls. Although every business is unique, our CFOs will follow a proven process:

Here’s what our service looks like:

Step 1 – In-depth Assessment: Conduct a thorough audit of your existing financial systems, processes, and controls to identify vulnerabilities, inefficiencies, and opportunities for improvement.

Step 2 – Introduce Best Practices: Introduce industry best practices and solutions that have been effective with similar businesses in your industry sector and ensure regulatory compliance

Step 3 – Advanced Technologies: Determine where investment in financial technologies can automate workflows, boost data accuracy and improve reporting capabilities.

Step 4 – Strengthen Risk Management: Identify financial and operational risks and implement appropriate controls to safeguard against potential financial losses.

Step 5 – Improve Reporting: Refine your reporting processes to ensure timely, accurate and actionable financial insights.

Step 6 – Identify Cost Savings: Uncover opportunities for cost reduction and operational efficiencies, such as renegotiating contracts and optimising inventory management.

How We Tailor CFO Solutions to Your Business Needs.

Understand Your Needs

We begin by carefully listening to your specific requirements and gaining a deep understanding of your business challenges and goals.

Develop a Customised Strategy

We craft a tailored plan that outlines how iFD’s expertise can best support you to improve your financial systems, processes and controls.

Connect You with the Right CFO

We match you with a highly experienced CFO whose experience and skills with your unique needs, ensuring a seamless and effective partnership.

Are you Ready to Hire a Fractional CFO?

Optimise your financial systems, processes and controls with expert guidance from iFD’s Fractional CFOs. Whether you need a comprehensive review, advanced technology integration, or improved risk management, we’ll provide the expertise to help your business thrive.

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Why You Should Choose iFD For Your Fractional CFO.

We Have You Covered

Our UK-wide network of CFOs ensures we can meet your financial needs wherever you are located. Our CFOs bring extensive experience across multiple industry sectors, including technology, construction, biotech, e-commerce and energy. Additionally, we have specialist expertise in exit planning, fundraising, budgeting and forecasting and management reporting. We connect businesses with top-tier financial talent, helping start-ups and SMEs thrive and grow in a competitive market.

Behind every iFD CFO is a team of specialists

As part of the Dains group of companies, a PE-backed business advisory firm, behind every iFD CFO is a team of accounting and HR professionals as well as a team of 600+ other finance professionals. This means iFD clients can access a wide range of additional expertise from accounting, HR, tax planning and advice, fundraising, exit planning, corporate finance and everything in between. Unlike agencies, we are a consultancy dedicated to tailoring our services to meet your specific business challenges, delivering personalised and strategic financial solutions.

We Are trusted By Our Clients.

Mario: CEO, The Flavour Trailer

“Working with our fractional CFO has completely transformed our approach to financial management. The detailed cash flow forecasts and strategic financial models they’ve developed have given us a clear roadmap for growth. This newfound ability to plan effectively has not only improved our decision-making but has also directly contributed to doubling our revenue. It’s been a game changer for The Flavour Trailer.”

Robin, MinaTherapeutics

“Isosceles has been a vital partner since 2019. Their support includes a Fractional FD with extensive biotech sector experience and regulatory knowledge, a team of fractional accounting professionals, access to an HR consultant, a dedicated payroll team, whilst liaising with specialist tax advisors skilled in producing complex R&D tax credit claims. Their flexible services and highly experienced teams have been invaluable to our success.”

Frequently Asked Questions.

How can reviewing my financial systems, processes, and controls benefit my business?

A thorough review can improve efficiency, enhance accuracy, mitigate risks, optimise costs, and ensure compliance. Essentially, a review will support growth by establishing more efficient and scalable financial systems so your business will be better equipped to manage future growth.

How often should I review my financial systems, processes and controls?

Growing businesses cannot operate without a financial system, so it’s important to evaluate your financial system annually to measure its effectiveness with your business. Pointers that you need an update include: The accounts team has no capacity, the leadership team has ‘blind spots’ in information, monthly reporting is always late, and the accounts team regularly chases missing information.

What are best practice financial controls?

Financial controls are crucial for ensuring the accuracy and completeness of financial data, aiding companies in effectively managing their financial resources. These controls help prevent and detect potential errors and fraudulent activities. To implement best-practice financial controls, businesses should undertake several key steps, including auditing existing procedures, reviewing the chain of command and communication protocols, and conducting a risk assessment to identify vulnerabilities within the current structure.

What types of advanced financial technologies do you recommend?

We recommend technologies that enable workflow automation to maintain the integrity of the business’s financial data and enhance data accuracy and reporting, such as advanced accounting software, financial analytics tools, and integrated risk management systems. The specific technologies will be tailored to your business’s specific needs.

How long does it take to see improvements after implementing changes?

The timeline for seeing improvements varies depending on the scope of changes. Typically, you may start to see benefits within a few months after implementation as new processes and technologies are fully integrated.

How can a Fractional CFO help with cost savings?

Our CFOs will accurately forecast future expenses and revenues enabling them to make informed decisions for cost reduction without compromising on growth or operational capabilities. Cost-saving opportunities include by reviewing current spending, renegotiating contracts, optimising inventory, and reducing wasteful expenditures.

Like what you’ve heard?

Get in touch to find out more about how we can help your business.