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In challenging situations, organizations can find much-needed support in a temporary CFO or other interim finance professionals.
In Brief:
- Interim professionals offer rapid availability and boost organizational capabilities in the face of evolving business challenges.
- Interim resourcing provides flexibility, preventing resource shortages and offering agility to respond to temporary increases in workload.
Amidst the ever-evolving landscape of business challenges, organizations are discovering a game-changing solution that offers rapid availability and an immediate boost to their capabilities. Enter the world of interim professionals, where the advantages of swiftly sourcing the right talent are transforming the way organizations overcome hurdles.
When the organization's own resources are stretched, an interim professional can provide much-needed support for managing the workload and alleviate any social pressures that arise. An interim finance professional can be a suitable solution for filling a clearly defined open role or providing support when workload and, therefore, pressure are expected to increase. In this case, the person does not fill any specific person's shoes but provides support where it is needed the most.
Otto Oljemark’s journey as an interim finance professional
Otto Oljemark has been supporting companies as an interim finance professional for five years. Otto has experience in — among other industries — equipment rental, food and consumer services. In his previous interim roles, he has worked as a CFO, business and financial controller, and a general resource for the organization, switching roles as needed.
Otto sees the need for a general resource increasing in the market and being particularly necessary in cases where companies face challenges in different areas and job descriptions become blurred. In Otto's opinion, forward-thinking companies use interim resources preventively before a resource shortage and workload can impact employee satisfaction.
The positive side of interim resourcing is that assignments can be ended at short notice, allowing companies to prepare for temporary increases in resource needs, such as during the closing period or when system projects cause rushes. In these situations, extra hands often provide much-needed flexibility for the organization’s own staff. Interim assignments can vary in length from one month to up to two years and be full-time or part-time.
When Otto starts a new assignment, he is interested in understanding the overall situation of the company and its goals. He is interested in what the company expects from an interim professional to consider the assignment successful. Understanding the bigger picture helps him prioritize tasks and manage his work. Additionally, Otto considers it important to be an external support for the organization, bringing good practices from his own career. With an external perspective, he has often been able to support organizations in developing their existing operational models.
I want to understand company operations and the finance function’s role in the organization — including the relevant parameters that shape company operations and the important stakeholders of the finance function.
How can EY team help? – EY Interim Services
EY interim finance professionals can help EY clients solve challenges as part of their wider finance teams. EY professionals have worked as CFOs — in external and internal accounting roles — as process owners and in various system development roles. There is also a growing demand for interim sustainability controllers as sustainability reporting requirements become more integrated into the overall corporate reporting.
EY Interim Services can support clients of all sizes, from small businesses to large international corporations. Numerous Finnish and international companies have confidently relied on the services provided by EY Interim, gaining significant value as a result. Enabled by its strong experience, EY Interim can bring exceptional value across all roles within a financial organization. To learn more about how EY Interim Services can help strengthen and enhance your finance function, please get in touch.
EY Financial Accounting and Sustainability Services team
The Financial Accounting and Sustainability Services team at EY can assist CFOs, sustainability leaders, controllers, treasurers and audit committees in disclosing financial and nonfinancial insights to stakeholders. The team can provide insights and services to help comply with evolving financial and sustainability requirements, promote transparency and trust in reporting, and aid in decision-making. Using its tools, the team also supports financial data analytics and innovation.
Summary
The flexibility offered by interim professionals enables companies to respond swiftly to temporary increases in resource needs, whether during the closing period or system projects. This agility and adaptability allow for seamless integration of additional support, providing much-needed flexibility to the company's own staff.