What is an interim manager?
An interim manager is a man or a woman who offers his or her professional services to companies for temporary assignments, capitalising on years of experience in his or her area of expertise.
The prototype of an interim manager has an entrepreneurial mindset, is driven by challenges, thrives in new, changing environments and counters routine and the daily grind by bringing continuous improvement and innovation in his or her job.
So, you are an Interim Manager or want to become one. Then the next question is:
How do you get assignments?
Prospecting new clients is a very
time consuming and hard job...
This is where Catalize can help you. We have a large portfolio of clients who contact Catalize whenever they have an urgent or temporary need for a qualified financial Interim Manager.
There are 3 situations in which an Interim Manager is particularly useful:
Your co-worker will be temporarily unavailable (due to illness, pregnancy leave, international mutation, etc) and his or her tasks cannot be covered by others in the company.
A sudden or unplanned departure of a key player leaves a hole in the organisation which has to be filled as soon a possible. An Interim Manager will ensure the continuity of the service and takes up the responsibility until an adequate long term replacement will have been found.
A specific and well defined project has to be executed and the required resources or competencies are not available internally. Once the project is done, the Interim Manager is no longer needed.
Why interim management?
Interim management offers a flexibility unparalleled by any other form of collaboration (permanent employment, temps, fixed term contracts,...) and is therefore the most convenient solution when there is uncertainty on the duration or intensity of the project.
Our extensive and continuously updated database of interim managers allows a very short response time to any request for temporary assistance.
Interim managers are always seasoned professionals with years of experience in their field. This enables them to ‘hit the ground running’ and to deliver added value very quickly.
An interim manager is not a ‘consultant’ who limits him or herself to merely extending advice on ‘how things should be done’. Instead, the interim manager will dive into the job itself, even if this implies hands-on, day-to-day operational involvement.
Good price-quality ratio
When hiring an interim manager, a company does not have to invest in long and expensive training. Neither will the client be charged for so called ‘best practices’ or an expensive ‘back-office’. The cost of interim management is always clear and transparent from the beginning.
Textbook example 1
Post acquisition integration: Company A takes over Company B and wants to integrate B’s entire finance department into its own. Company B’s CFO has left and Company A’s CFO does not have the time or people required to accomplish this. The interim manager will integrate Company B’s accounting, reporting and IT systems into those of Company A.
Textbook example 2
ERP Project: A company wants to implement an ERP or other accounting IT system (SAP, Oracle, JD Edwards, Hyperion, Exact,...) and needs a Project Manager who will translate the needs of the users to the IT developers.
Other situations in which an interim manager can be useful? A negative audit review, fiscal optimisation, setting up transfer pricing, management reporting, the implementation of Sarbanes-Oxley or IFRS, the professionalisation of an SME, cost cutting exercises, investor relations after an IPO, etc.
How does it actually work?
The client – Company X – has a temporary and/or urgent need to strengthen its finance department.
Company X contacts Catalize and explains the issue.
Catalize introduces one or several qualified and pre-screened interim manager(s) to the client and schedules meetings for the client and the interim manager(s).
The client meets one or several interim manager(s) and takes a decision.
Catalize makes a contract between the client and Catalize in which the following is stipulated: designation of the interim manager, the assignment, start date and remuneration.
Catalize makes a contract between the interim manager and Catalize in which the following is stipulated: designation of the client, the assignment, start date and remuneration.
The assignment begins and Catalize ensures a regular follow-up with both the client and the interim manager until the assignment is successfully completed.