I have been working in the industry for more than 10 years, during which time interim services have become a key factor in times of great economic change. Financial management is a critical function for a company and there is no room for disruptions. Things need to run smoothly in any environment of change, such as corporate restructuring, reporting changes or even the resignation of a controller.
Interim services have traditionally been used to temporarily fill the role of the CFO. We at NIS have pivoted this thinking in the countries where we currently operate, in Finland and Sweden. We believe that the success of a company should be supported equally adamant by all financial management roles and at all levels of the organisation. E.g. the business controller is the company's financial navigator, guiding the company towards its financial goals. Their expertise and analytical skills are invaluable to our clients.
Changing mindsets and pioneering
Interim finance professionals are needed not only to meet temporary resource challenges, but also to develop processes or systems. Companies are currently in particular need of demanding IFRS conversions, process development specialized project managers and experienced finance professionals to support temporary resource and skill shortages.
Hiring a temporary consultant is often faster and more cost-effective than hiring someone on a temporary basis. In the best-case scenario the NIS consultant leading the project starts the very next day. I also remember a situation where our consultant went to a client company to identify its needs, and then called back immediately to say that he would stay on for half a year.
"I also remember a situation where our consultant went to a client company to identify its needs, and then called back immediately to say that he would stay on for half a year."
Understanding clients' needs and selecting the consultants we recommend to them is one of our core competencies. What I consider exceptional in the industry is that I personally know the skills and areas of development of our experts. I have confidence in them and their potential - and the positive feedback from our clients on the quality of our services is the best reward we can receive.
NIS interim experts accumulate in-depth knowledge in various areas of financial management, and I know from experience that our experts can quickly get to the heart of a client's problem. The challenges are often the same. Many times have I seen how our interim experts bring a new perspective to a company, often leading to surprising and useful insights. I call these moments golden nuggets, which you get as a by-product of interim financial management work!
Erik Liljeström is one of the pioneers of interim financial services in the Nordics. For more than 10 years has he challenged traditional ways of working and created new service models for interim financial management expertise needs. NIS - Northern Interim Services was founded in 2019 and employs around 80 financial experts in Finland and Sweden.
Comments