The timeshare CFO:
A flexible, efficient solution for companies
Time-sharing CFOs have become an essential solution for companies wishing to strengthen their financial management while controlling costs. This model is based on the provision of a Chief Financial Officer (CFO) for a limited period, tailored to the specific needs of each organization.
For SMEs, start-ups and even mid-sized companies, this approach represents an effective alternative to hiring a full-time CFO. By benefiting from the expertise of an experienced professional without incurring a significant fixed cost, companies can optimize their financial performance while retaining a high degree of flexibility.
In this article, we'll explore in detail the role, benefits, missions and cost of a timeshare CFO, as well as the essential criteria for choosing the right professional for your organization.
What is a timeshare CFO?
A timeshare CFO is an experienced financial management professional who works with one or more companies on a flexible basis. Unlike a traditional CFO, he or she does not work full-time in a single organization, but divides his or her time between several customers according to their specific needs.
The tasks of a timeshare CFO are varied: managing cash flow, developing financial strategies, optimizing administrative processes, steering budgets and assisting with fund-raising.
Differences between a traditional CFO and a timeshare CFO
The key differences with a traditional CFO are numerous. A traditional CFO is a permanent employee, whereas a timeshare CFO works on an adjustable basis, with hours or days defined according to the company's needs. The timeshare CFO is invoiced according to his or her working time, which optimizes financial resources. Thanks to experience acquired in a number of sectors, he or she brings a fresh perspective and solutions tailored to the specific challenges of each company.
The timeshare CFO model is based on total flexibility. The duration of an assignment can vary from a few days a month to several days a week, depending on the company's needs. Assignments can be one-off, such as for fund-raising or restructuring, or recurring, such as for budget monitoring or reporting. Companies either collaborate with specialized firms or seek out CFOs directly on a timeshare basis via professional platforms.
A concrete example would be that of a fast-growing SME that calls on the services of a time-share CFO to structure its finances and prepare for a fund-raising round, while adjusting the duration of the intervention according to its changing needs.
Why choose a timeshare CFO?
Benefits for companies
There are many advantages to using a timeshare CFO. It reduces fixed costs. A full-time CFO represents a significant investment in terms of annual salary, social charges and benefits. Conversely, a timeshare CFO is billed according to the time he or she works, optimizing the company's financial resources. These professionals have solid experience in a variety of sectors, enabling them to intervene quickly and efficiently. Working hours are adjusted as needed, avoiding periods of under-utilization. Last but not least, the missions of a timeshare CFO are geared towards clear, measurable objectives, in line with the company's strategy.
Why is this model increasingly popular?
In an economic climate marked by uncertainty and increasing complexity, the timeshare CFO model is proving to be an agile and appropriate solution. More and more companies are outsourcing certain functions, such as financial management, to focus on their core business. The digital transition requires advanced expertise in financial management and the use of modern tools, which the timeshare CFO masters perfectly. Finally, for start-ups and SMEs, this model provides access to a high level of expertise without burdening their internal structure.
The tasks of a timeshare CFO
Benefits for companies
The timeshare CFO works on a wide range of assignments, combining strategic and operational expertise. He or she is responsible for managing accounting and finance, including overseeing financial statements, coordinating with chartered accountants and ensuring compliance with legal standards.
He also participates in the development of long-term financial strategy, defining financial objectives in line with the company's strategic vision.
A timeshare CFO is also responsible for cash management and financing, optimizing cash flows, negotiating with banks and managing loans. He or she prepares detailed budgets and implements monitoring tools to anticipate financial needs.
When should you hire a timeshare CFO?
A timeshare CFO is particularly useful in specific situations. When a company is growing rapidly, it may need to structure its finances to support its development.
When raising capital, a timeshare CFO is an asset for preparing financial documents, projections and negotiations with investors. In the event of restructuring, the CFO can reorganize finances to turn the company around or improve its performance. Finally, for one-off projects such as the implementation of a new ERP, a financial audit or a budget reorganization, the timeshare CFO provides valuable expertise.
Case studies
Seasonly
E-commerce
Controlling,
Administration,
HR
What are the criteria for choosing a good timeshare CFO?
Profile of a good timeshare CFO
For a timeshare CFO to be effective, he or she needs to combine several key skills. He or she must have technical expertise, particularly in mastering financial tools, cash management, management control and reporting. He or she must have analytical skills, an aptitude for interpreting financial data and proposing strategic recommendations. Sector versatility is also essential: experience in various sectors (tech, industry, services) enables the CFO to adapt quickly to the specificities of each company. Last but not least, CFOs need to demonstrate leadership and pedagogical skills to manage in-house teams and pass on their know-how.
The CFO selection process
To choose the right professional, it's essential to evaluate references, check past experience and achievements. A detailed interview is recommended to discuss the company's specific missions, objectives and expectations. It is also advisable to test skills by asking for concrete examples or case studies to assess the relevance of proposed solutions.
How much does a timeshare CFO cost?
Time-share CFO rates
The cost of a timeshare CFO depends on a number of factors. Some professionals charge by the hour (between €100 and €200), while others offer monthly packages tailored to the company's needs. The complexity of assignments also plays a role: strategic projects, such as fund-raising or restructuring, can entail higher costs.
Is it profitable for a company?
A CFO working a few days a month will naturally be less expensive than an almost full-time collaboration. However, even on a part-time basis, the cost of a shared CFO remains lower than that of a full-time CFO.
A full-time CFO earns an average annual salary of €120,000, plus around 40% in social security contributions. By contrast, a time-share CFO costs on average between €3,000 and €10,000 per month, with no fixed charges. This solution is particularly well-suited to SMEs and start-ups, which can thus allocate their resources to revenue-generating activities.
How do I find a timeshare CFO?
Specialized platforms and agencies
Companies have several options for recruiting a CFO on a timeshare basis. Specialized firms offer dedicated support for interim management and outsourced finance functions. Professional networks, such as LinkedIn or Malt, can be used to find qualified profiles. Finally, word-of-mouth remains a reliable means of identifying competent experts.
Tips for recruiting a timeshare CFO
To ensure a successful collaboration, it's advisable to clearly define missions, draw up precise specifications to avoid misunderstandings, assess skills by checking qualifications, experience and the ability to adapt to your company's specific challenges, and prioritize transparency by choosing a CFO capable of delivering measurable results and clear reporting.
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FAQ
What is the average cost of a timeshare CFO?
What's the difference between a timeshare CFO and a chartered accountant?
The time-share CFO focuses on financial strategy and operational management, while the chartered accountant mainly handles legal and tax obligations.
Why outsource rather than hire a full-time CFO?
Outsourcing enables you to benefit from cutting-edge expertise at lower cost, while retaining a high degree of flexibility.