AFR Director Simon Speak – The skills and value of an effective finance department

Having a great finance team can ensure your business weathers the storm; they are central to success and integral to growth.

Particularly when times are tough employers need to focus on developing an effective finance team with the right skills and experience to overcome economic challenges.

Having a firm grip on credit control and cash-flow is absolutely vital, and it all stems from solid management by an experienced Finance Director.

Over the last few years the FD position has diversified and now carries a range of responsibilities and opportunities extending far beyond its traditional finance functions.

Your FD takes on critical responsibilities – effectively managing the balance sheet, ensuring robust corporate governance is in place, maintaining sensible growth, and providing a prudent approach to decreasing levels of credit available.

To support the FD you also need a strong team of financial professionals.  A skilled Management Accountant will ensure you can analyse efficiencies and minimise non-essential costs.

Meanwhile credit controllers provide vigilance in monitoring debts, managing payment plans, and devising discounts in return for prompt payment.  They can also put procedures in place to manage poor credit ratings and prevent problems arising.

The ‘softer’, skills are crucial now as well, especially by those who see the post as a stepping stone to the top of a company, to many – stakeholder communication and relationship management skills are almost as highly valued as financial aptitude.

What value should a finance team add to my business?

  • Identify which parts of your business make the most profit
  • Establish stringent cash management and internal controls to provide working capital needed to survive or grow.
  • Develop management information systems to understand commercial and financial drivers of your business
  • Implement new or more efficient IT accounting systems
  • Risk assessment on new ventures, contracts and tenders
  • Find finance to fund growth organically or through acquisition, flotation or MBO
  • Identify opportunities to reduce tax bills and bank or currency charges

Enhancing the structure and calibre of the finance department should be a priority for any business that wants to ensure it survives and thrives in a difficult economic climate.

Recent news and events

View all...
K Sereice
K Sereice
15:00 15 Oct 20
I would rate this company well for supporting me. I was needing professional advice to know if I was going in the right direction, for a future job role. Sarah helped me with alot of advice. Thank you
Adele Gaskell
Adele Gaskell
19:11 03 Sep 20
Helpful recruiters
Jack Croft
Jack Croft
15:56 06 Aug 20
After completing university during the current global pandemic I thought it would be near impossible for me to get employment, However after finding a very interesting job online and with Tammy guiding me though the interview process I was able to feel more confident in myself and abilities.Again thank you Tammy! 😁
James Thomason
James Thomason
15:36 06 Aug 20
Tammy from AFR was brilliant friendly polite and proffesional. Tammy kept me updated and informed with the progress and feedback for my appication and interviews and I secured the position with the salary I was looking for.Thanks
Magda W
Magda W
18:47 15 Mar 20
I would like to use an opportunity to thank for the support that both Tammy and Sarah gave to me throughout the whole interviewing process. They both made me feel confident in myself to go to the interview as tbh if it wasn’t for them I would have struggled a lot more during the whole process ( never been to one before). Tammy Smith was absolutely amazing !!!!!She made me feel comfortable, provided me with all information I needed to succeed!She is also very warm, super friendly and... approachable, very reliable and informative. Honestly, I cannot thank them enough as they are just perfect career match makers!!!!!AFR Consulting/ Tammy Smith - you are a life changer!!!!Thank you very much!!!!read more
Jo English
Jo English
18:33 12 Mar 20
I had an email to let me know about a job opportunity and after a chat and a video interview that seemed to go really well, I was offered an interview.I cant praise them highly enough as they gave me the self confidence and information I needed and got the job.Three months later, yes it was the right job for me thank you everyone for your hard work.
Karina K
Karina K
23:01 07 Nov 19
Really impressed with AFR Consulting and their speedy effort to find me suitable employment. Tammy and Sarah really had my best interests at heart and the whole experience was much more of personal service than a business transaction as found at other recruitment agencies. I would certainly be using them in the future after trusting them to find me the perfect job.
See All Reviews