Kevin Briggs

Interim Financial Management

Learning curves

The incline of the learning curve depends on the degree to which organisations have prepared for employing an interim. For example, much of my business integration work has been where the client has already acquired the business, and has tried to integrate, and for some reason it has not worked (usually lack of time or resource). To re-launch the integration, there is some catching up to be done. The best way to handle this is to get it right first time by ensuring that the interim is employed at the outset, so avoiding costly mistakes.

Similarly, where computer problems arise and there is an element of systems design and implementation needed, that need should be identified at the outset. If the interim is backfilling the secondment of a permanent member of staff to the project, then you don't want that staff member to be pre-occupied dealing with queries raised by the interim.

Roles that are of a technical accounting nature, such as completing a year end, are less of a learning experience, but again so long as the situation is planned in advance. Yearend is a particular risk for the business and it is important to ensure that this is done right first time, particularly where there is a tight deadine to be met. In this context, I have successfully (ie to timetable and without auditor qualification) managed the statutory accounts production process whilst applying unfamiliar accounting frameworks.

Something that is difficult to avoid is where a key member of staff leaves unexpectedly. Here, the ability of the interim to scale the learning curve is particularly important and where the skilled interim comes into their own.

Finally, its good to prepare for the interim as if they were a new member of the client's permanent team. The client is responsible for the management of the interim and the interim's terms of reference (but at the same time takes advice), so ensure that there is a proper new starter induction for the interim.

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What is interim management?

Key staff replacement / backfilling

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Computer implementation

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