Quality Information

Interim Financial Management

Profile
Martin
Elaine
Publications
 

Quality Information

The Shambles

Old Highway

Colwyn Bay

Conwy

North Wales

LL28 5UY

Tel:   01492 530555

e mail
 martin@qualinfo.co.uk
elaine@qualityinformation.co.uk

If an organisation runs into a problem or the Financial Director leaves, then an Interim Manager is often the best way to fill the gap or solve the problem on a temporary basis, while a long term solution can be found.

Elaine Harrison is an experienced financial controller who has filled various interim financial management positions, either full time or for 2 or 3 days per week for up to 6 months. I take over the running of the accounts department and can often improve the systems and controls. The reasons for the interim position have included:

• maternity / sickness cover
• recruiting a permanent Finance Director / Financial Controller
• fraud and the accounts needed sorting out
• needed the management information sorted out
• pressure from the bank for more financial control.

Typical assignments include:

• Interim Management Accountant / Financial Controller for a family owned Cash and Carry (turnover £24 million). Following the illness and subsequent resignation of the Finance Director, I ran the finance function for the business. I improved the quality and accessibility of the management information. Credit control and negotiations with the suppliers and the bank was a major part of the assignment.

• Interim Financial Controller for a major importer of cut flowers (turnover £10 million), while the permanent Financial Controller was on maternity leave. Reporting to the General Manager based in Germany, I was responsible for the accounts department and controlled the credit levels available to the salesforce. I reduced the level of bad debts, and controlled the foreign exchange.

• Interim Financial Controller for a clothing manufacturer (turnover £7 million). I improved the quality of monthly information, so that the managers gained an understanding of what affected the `bottom line. I set up improved stock records, fixed asset register, and control of HP agreements. The pressure to fill the position in a hurry was removed. This assignment was for 3 days per week for 4 months, and the requirement was caused by the sudden resignation of the previous Financial Controller.

Elaine Harrison MA, FCMA has 20 years experience as a management consultant and interim finance manager. Previous experience includes management accountancy and Financial Controller positions in construction, manufacturing, and wholesaling businesses.