French Tech San Francisco’s Post

What is the difference between a Finance Director (or CFO), Finance Controller, and Finance Manager? Well, I shall tell you 👇 The Finance Director is the most senior, and most experienced, finance person in the room 💪 A Finance Director provides important financial insights that gives senior leaders the best information for making sound business decisions. And that's good news for an MD, CEO, or business owner. For SME businesses, typically an FD is heavily involved in things like: ✔️ Formulating company strategy ✔️ Scenario planning and stress testing ✔️ Contract negotiations ✔️ Optimising cash flow and profitability ✔️ Helping secure grants, loans or investment as required Finance Managers and Financial Controllers, on the other hand, are responsible for the day-to-day running of their department. They're responsible for: - Monthly management accounts - Budgeting - Forecasting - Transactional accounting - Correct reconciliations - Tactical cashflow management They’re also involved in planning and analysis, especially around expenditure for operational or strategic work. There's often a bit of cross over between roles, and you could have an FD in a very small business who's not dealing with things that are anywhere near as complex as what a Group FC in a large corporate would have on their plate. But being the No.1 in finance, and having true commercial and strategic experience is what you're looking for if you're after Portfolio FD / Fractional CFO support. A true right-hand sounding board to push you onwards and upwards. ➡️ If you're an MD, CEO, or business owner - would you like to understand your business numbers better? I’ve designed a short quiz to help you score some valuable insights. Link in first comment👇 #PortfolioFinanceDirector #FractionalCFO #SMEFinance #SmallBusinessFinance #entrepreneurship

What is the difference between a Finance Director (or CFO), Finance Controller, and Finance Manager? Well, I shall tell you 👇 The Finance Director is the most senior, and most experienced, finance person in the room 💪 A Finance Director provides important financial insights that gives senior leaders the best information for making sound business decisions. And that's good news for an MD, CEO, or business owner. For SME businesses, typically an FD is heavily involved in things like: ✔️ Formulating company strategy ✔️ Scenario planning and stress testing ✔️ Contract negotiations ✔️ Optimising cash flow and profitability ✔️ Helping secure grants, loans or investment as required Finance Managers and Financial Controllers, on the other hand, are responsible for the day-to-day running of their department. They're responsible for: - Monthly management accounts - Budgeting - Forecasting - Transactional accounting - Correct reconciliations - Tactical cashflow management They’re also involved in planning and analysis, especially around expenditure for operational or strategic work. There's often a bit of cross over between roles, and you could have an FD in a very small business who's not dealing with things that are anywhere near as complex as what a Group FC in a large corporate would have on their plate. But being the No.1 in finance, and having true commercial and strategic experience is what you're looking for if you're after Portfolio FD / Fractional CFO support. A true right-hand sounding board to push you onwards and upwards. ➡️ If you're an MD, CEO, or business owner - would you like to understand your business numbers better? I’ve designed a short quiz to help you score some valuable insights. Link in first comment👇 #PortfolioFinanceDirector #VirtualCFO #FractionalCFO #SMEFinance #SmallBusinessFinance

When can you start calling yourself a CFO? It used to be a title reserved for the most senior finance executives, and came with an expectation of experience in all areas of accounting & finance. Years ago, the title seemed to come with gray hairs and polished loafers. I’m certainly getting older, but it seems the title is getting younger. Sometimes, I wonder if “CFO” is getting diluted. I guess it depends how you define it. If the CFO is highest ranking financial leader in a business, then some bookkeepers and controllers could be CFOs at smaller companies. I believe that to be a CFO, a professional should have a level of experience sufficient to lead a company through all things accounting & finance that the company will experience. I don’t think they need to be perfect or know everything, but understand how to operate within the core systems: Strategy Capital Forecasting Reporting Controlling Transactions …sufficiently to drive strategy. By my definition, a person can be a CFO for one company, but perhaps not another. That’s just my opinion. What’s yours?

Curious about the distinctions among a Finance Director (or CFO), Finance Controller, and Finance Manager? Allow me to illuminate the disparities. At the apex sits the Finance Director, embodying unparalleled expertise and seniority within the financial realm. A Finance Director serves as a pivotal source of crucial financial insights, equipping senior leaders with the knowledge necessary for prudent decision-making. This translates into advantageous outcomes for Managing Directors, CEOs, and business proprietors alike. Within the realm of SMEs, the Finance Director typically assumes multifaceted roles, including: ✔️ Formulating company strategy ✔️ Conducting scenario planning and stress testing ✔️ Overseeing contract negotiations ✔️ Enhancing cash flow and profitability ✔️ Facilitating the acquisition of grants, loans, or investments as needed On the other hand, Finance Managers and Financial Controllers are tasked with the day-to-day operations of their departments. Their responsibilities encompass: - Compiling monthly management accounts - Crafting budgets and forecasts - Managing transactional accounting - Ensuring accurate reconciliations - Strategizing tactical cash flow management Moreover, they contribute to planning and analysis, particularly regarding operational or strategic expenditures. While there may be some overlap among roles, the Finance Director of a small enterprise may not grapple with complexities akin to those tackled by a Group Financial Controller in a large corporation. However, seeking a Finance Director or Fractional CFO imbued with profound commercial acumen and strategic prowess is paramount. Such a figure serves as an indispensable confidant, propelling your trajectory toward greater heights. For Managing Directors, CEOs, or business owners, envisioning a deeper comprehension of your business's financial metrics – wouldn't that be invaluable? Get in touch to discuss #linkedin #CFO #FD

If you are a finance controller but want to become a finance director, here's a simple tip. Stop being a control freak. Nobody wants to work with someone who triple checks everything and takes 3 weeks to make a decision. Start focusing on the bigger picture. Finance directors aren’t hired to manage the details. They’re hired to lead. Delegate more. #FinanceController #FinanceDirector

COO WITH NO CFO? Someone asked me recently what I'd share with a COO who is operating without a CFO. This is actually pretty common, especially at companies under $10M in revenue. If you're sitting in the COO seat but are also accountable for the finances, it can feel like a LOT. I know it did for me. Here are the three ways that I tackled it: 🤝 𝗚𝗘𝗧 𝗦𝗢𝗠𝗘 𝗛𝗘𝗟𝗣 When I came into my current role, I was super lucky to work with an incredible controller (who is now my Head of Finance). She is incredibly smart, and I couldn't imagine having to make it happen without her in the role. If you don't have someone like this in your org, make it your mission to find one. Just because you're accountable for the operation at the executive level doesn't mean you have to do EVERYTHING in the finance function. Get a leader, invest in them, and make sure they can run the day-to-day operation. 🎓 𝗚𝗘𝗧 𝗘𝗗𝗨𝗖𝗔𝗧𝗘𝗗 If you're coming into this role without a ton of operational finance experience, it's time to get your learn on. I mashed up like 6 different books, a few courses, and talked with as many finance leaders as I could - all in support of building competence. Competence leads to confidence, which leads to results. In that order. There's no "fake it till you make it" when it comes to money. If you try to fake it, it hurts everyone. 👀 𝗚𝗘𝗧 𝗦𝗢𝗠𝗘 𝗢𝗨𝗧𝗦𝗜𝗗𝗘 𝗣𝗘𝗥𝗦𝗣𝗘𝗖𝗧𝗜𝗩𝗘 One of the best things I did is hire an outside FP&A analyst to come in and prepare their own financial model, provide their own analysis of our results, and to challenge my assumptions and beliefs around our performance. Fresh eyes will see things that you won't see. They don't make decisions, but they advise me - which is crazy valuable. It never hurts getting some more smart people in the room to help back you up. If you have a solid team to work through, are building your own skills, and are leveraging outside eyes where you can...it's a pretty great way to make sure your finance operation is build to last (at least until you're big enough to hire that CFO) MV

Is a CFO just a glorified controller? Not at all. There have been times when people used the “CFO” title to entice talent when, in reality, they were offering a controller role with a fancy name. But a true CFO is a strategic partner. ✔️ They drive financial strategy and vision. ✔️ They manage investor relations and capital structure. ✔️ They analyze market trends and business opportunities. If your CFO is… 👉 Handling routine bookkeeping 👉 Overseeing payroll processing 👉 Managing day-to-day accounts payable and receivable … I hate to break it to you, but they are just a glorified controller, and you’re not getting the value you should out of the role. What can you do about it? Let’s hop on a call and talk about your options for getting the right people in the right roles to help your company thrive ➡️ https://lnkd.in/gAYeHP6C (Thanks, James Thurston, MBA, CPA, for the inspiration for this post.)

Accounting and Financial Controllers are key executives in companies and organizations of all sizes, across all industries, in all countries and continents. Following are Controller, CFO and related corporate finance statistics for the United States and globally that reinforce the importance of these titles and roles. #AccountingCareers #FinanceCareers #Infographic #Controllers #CFOs #CorporateFinance #CorporateAccounting #2024Statistics

5 types of CFOs: 1. The finance expert Deeply experienced in finance roles like controlling, treasury, and audit, often coming from internal hires with advanced accounting degrees. This type of CFO is suited for decentralized companies needing strong finance leadership and is ideal for ensuring compliance and standardizing processes. 2. The generalist Has broad experience in operations, strategy, marketing, or general management, making them strong in business operations and strategy. They are often found in capital-intensive industries like oil and gas and typically hold MBAs or other advanced degrees. 3. The performance leader Focuses on cost management and standardizing data and systems, often being hired externally with previous CFO experience. These CFOs excel at using metrics and scorecards to drive performance, making them common in companies with aggressive growth or cost targets. 4. The growth champion Hired externally for their M&A expertise and strategic insight, coming from backgrounds in investment banking, consulting, or private equity. They are ideal for industries with frequent disruptions and aggressive growth plans, especially for companies planning significant portfolio changes. 5. The strategic builder Focuses on long-term value creation and strategic growth initiatives. This CFO type works closely with the CEO and board to find new market opportunities, drive innovation, and create transformative projects that align with the company’s vision. They often have diverse backgrounds, blending financial acumen with strategic thinking and operational experience. Takeaway: Knowing your type can allow you to focus on the skills and experiences that make you an invaluable asset to your company and drive your career forward.

NEW JOB ALERT! Finance Manager! Navigating the world of finance requires a steady hand and a clear vision. It's not just about balancing books; it's about steering a company towards a prosperous future. 💼 Could this be you? #FinanceManager