Providing Business Support
The FD Centre was established in South Africa in 2010 to provide medium-size businesses and larger corporations with the skill-set of a part-time or interim Finance Director. FD Centre South Africa is part of an international group founded in the UK in2001 by current chairman Colin Mills. Over the last two years the FD Centre has become the largest and most respected provider of part-time Finance Director (FD) services in South Africa.
The FD Centre works with business owners, entrepreneurs and corporate executives on business and financial strategy, operational finance improvements and efficiencies and helps to provide business support by helping manage key stakeholder relationships inside and outside the organisation. Ambitious companies are provided access to a high calibre part-time FD working in the business, bringing "big business experience" at a fraction of the cost of a full time resource. In this way the owner and business benefit tremendously. Not only is there a skilled person with the relevant experience that the owner can turn to; but the FD Centre Principal also brings re-assurance and presence of mind to ensure that all opportunities are taken advantage of and that the owner can focus on the key drivers of the business.
The FD Centre's other target market is the office of the CFO or FD. Here high level capacity is required as and when the need arises. This may be in the form of specialised and focused projects; or through the provision of interim placements whilst the company addresses resourcing issues. In both cases there
is assurance that issues are being dealt with by professionals with proven experience.
The FD Centre engages Principals who are experienced, business savvy professionals. Typically, the FDs have had serious roles as a FD or MD of their own business venture or as corporate FDs with broad business acumen acquired from 20 to 30 years of experience. All FDs are qualified and registered chartered accountants (SAICA or CIMA). They have walked the walk.
An FD is not merely assigned to a company but each placement is assessed based on the company's culture, business needs and economic sector. Each FD is assigned on the basis of overall fit, which goes beyond qualification or years of experience. All FDs are carefully screened and psychometrically profiled to ensure they are aligned to the business culture and management style of the company. It is imperative that they have the necessary qualities to help guide the organisation through intense, high growth, as well as ever changing and challenging economic times.
The FD is essential in ensuring that operations are effective and efficient as well as cost effective and focused on improving profit. "The FD Centre has moved us into a different league from an accounting perspective. We now have a financial roadmap whereas before we were thrashing around in a bookkeeping mess." Dr Brett Craig CEO Kokstad Medical Admin Trust. The FD not only manages finances but coaches and/or mentors the managing director of a company to achieve his/her ambitions. A primary goal is to assist in taking the business forward. While entrepreneurs often have a specific set of skills in product innovation or development they do not always have knowledge of operational systems and people. The FD provides a support function that may go beyond finance and include aspects such as leadership, IT, relationship management and human resources. "Having a highly effective part-time FD has enabled me as the MD of the company to focus again on my core competency, that of technical development." Dr Mark Rawlins - MD Energy and Combustion Services (Pty) Ltd.
The cornerstones of the FD Centre's offering are teamwork, objectivity and trust. At times a team of FDs who have complementary skills and combined experience may be assigned to cover all aspects of the business in order to deal with the many complex business challenges
which clients face. This unique collaborative approach is impossible to replicate using a traditional FD model, which doesn't have such a wide and varied knowledge. This means that besides having their own FD, the FD Centre's clients also have access to a local, national and international collaborative team. This distinct advantage enables FDs to solve complex problems, find funding and potential buyers for example, far faster than the traditional FD model.
This means that besides having their own FD, the FD Centre's clients also have access to a local, national and international collaborative team. This distinct advantage enables FDs to solve complex problems, find funding and potential buyers for example, far faster than the traditional FD model.
FD Centre has a credible partnership network with companies that provide business and specialist services on an outsource or consultancy basis. They are able to refer these partners to their clients when specific needs arise. A typical client engagement could be anything from two days a month upwards, working at the client's premises, with additional availability via phone and e-mail. Engagements run from month to month, as long as a project requires, but could last several years. The FD Centre prides itself on building long-term relationships with its clients through its range of services and highly trusted delivery mechanism.
The FD Centre is currently targeting Africa for future
growth, where there is much potential and need for the
specialised skills that the company has on offer.