Interim CFO for companies located in Munich, Bavaria or Germany
When confronted with a change in the CFO position in a German company one needs to have in mind the German labour market. There is a huge difference on the availability of people compared to the Anglo-Saxon labour market. This causes a number of effects. Different to the UK or US, very often employees in Germany to have a notice period of 3 months or more. For key positions 6 or even 12 months is very common. C-Level managers often have a notice period of up to 12 months.
If you want to get somebody from the competition, they might send him home immediately. But than force him on a garden leave for the remaining contract period, in order to avoid information moving to the competition. If Anglo-Saxon companies own a company in Germany, that is the game which needs to be considered.
Same time there are many reasons why a CFO position is vacant on short notice.
However, the position of the CFO or finance manager must not remain vacant for a long period of time. The finance team and sometimes other departments where overseen by the position holder and need leadership. The other board members may need to focus on their own matters and don’t have the time to oversee this position for 6-12 months. This is where I can help you as an interim CFO as a bridge solution.
The team continues to be managed and feels at ease. The team and the management has one contact person with availability. Daily tasks are reliably completed. Depending on the situation, there is also the opportunity to think about improvements in the individual functional areas. Here I can help with my experience in many companies. I familiarise myself quickly and can help to hand over the area in an orderly manner.
Using the time for optimisation
Depending on the situation and mandate, as interim CFO or finance manager, I can not only assure a high quality hand over. I can also start introducing improvements. My many years of experience in various finance functions as well as corresponding methodologies help me in this. Due to my broad professional expertise, Know Why is always on board.
Here is a selection of the improvements that I have introduced for clients
- Brief analysis of the status in the financial department and, if necessary, in other areas
- Examination of the degree of digitisation and definition of a target value
- Motivation and reorientation of the employees in the team
- Ensuring and optimizing reporting in terms of effectiveness and efficiency
- Optimization of finance processes and increase of process quality
- Improving cooperation between departments
Often the fresh view from outside and my varied experience help to see things that previously seemed hidden. I am familiar with a variety of approaches and can therefore assess them well.
- 20 years management experience in the commercial sector
- Practical experience in various functions, thus both overview and detailed knowledge
- Implementation experience, combined with consulting tools, which enables pragmatic solutions
- Very fast and circumspect familiarization in the management team
- Entrepreneurial thinking and acting, also beyond the horizon
- Experience in subsidiaries of corporations, large medium-sized companies and start-ups
- Methodological reliability through practical application and trainer experience
- Respectful conflict resolution as a business mediator who takes people along at the same time
- Large active network, whose expert know-how I can draw on if required