Why choose a DAF timeshare?
Not all companies necessarily need a full-time CFO. In addition, many of them do not have a budget that allows them to internalize an experienced executive in full-time financial management in the company. Another point: At BDDD we also intervene in the phases in which a company manager is on sick leave, is on maternity leave, etc. We then ensure continuity of service for companies in roles that are crucial and for which there can be no vacancies.
What are the main missions that the timeshare CFO will fulfill?
There is a hard core that consists of establishing cash and operating budgets and organizing their monitoring, both daily and in a horizon of 12-18-24 months. Monthly we highlight management indicators. They will allow the manager to ensure that the company is on the trajectory defined at the beginning of the year. To these missions are added more specific tasks such as updating the cost price to check if the structure earns money in all its activities. We will also optimize the company’s internal organization to identify risk areas and secure processes. On the basis of all this, which constitutes the heart of our missions, we are going to be questioned on a multitude of other issues. They can be of a strategic nature, such as an external growth project.
For which company profiles, the shared DAF is the most appropriate response?
It is the answer that best suits the needs of VSEs/SMEs, which represent 99% of the French business market. Remember that there are companies with 50 million annual turnover that do not have a financial director. It may come as a surprise, but it is an established fact. The same happens with start-ups where there is practically no structure and which today represent 15% of our clients. In the latter, our interventions are generally beneficial for managers and investment funds that are reassured by finding a financial contact to support them.
What is the career path of CFOs joining your network?
They must necessarily have 10 years of experience as CFO, RAF, etc., and have worked in French SMEs. The paths are varied, some have worked in a consultancy or through internal auditing, or even through the banking world.
In addition, beyond the verification of technical skills, the know-how of the person will count greatly and will also be the subject of serious evaluation.
Is the DAF timeshare model being developed?
In fact, the demand is growing. The model has been around for about ten years, but it is a profession that is developing more and more and is having success throughout France. More and more companies are realizing that they have the possibility (without having to invoice tens of millions of euros) of having an experienced and immediately operational framework. On average, the duration of the mission is 12 to 18 months. 80% of our missions last more than 6 months with a very high renewal rate (80%).
This content was produced with SCRIBEO. The BFMBUSINESS editorial team was not involved in the production of this content.
Source: BFM TV
