Interim CFO – Best Practice Implementation - Case Study

Interim Chief Financial Officer

Sector: Information Technology (Software & Services)

Location: Brisbane, QLD

Our private equity client recently acquired a majority stake in a B2B software platform with professional clients in Australia and around the world. Founded some 30 years ago in Australia, the business has 120 employees and an annualised revenue of around $30 million.

Issue:

Recognising the global growth potential of the highly secure and scalable cloud-based platform, the shareholders appointed a high-energy, passionate CEO based in North America. With a remote CEO and a team in Queensland, the business needed an Australian-based CFO as a point-person to run the onshore operations and support the remote CEO’s aggressive growth agenda. EIM was approached for an Interim CFO to fill the short-term gap until a permanent CFO was appointed.

Solution:

EIM quickly identified and appointed an Interim Executive, to review the business and to immediately support the Finance Manager, in delivering the annual budget and overseeing an external audit. While waiting to action a seamless handover to the permanent CFO, the Interim CFO partnered with the CEO and investees to embed appropriate ‘guardrails and governance’ to de-risk growth initiatives. In addition, the Interim CFO developed a ‘Board reporting pack’ focused on business reporting, sales, and insights to drive sensible commercial outcomes.