Advisory: finance direction

Part-time CFO and interim finance direction for SMEs

An SME needs a finance director long before it can hire one full time. Between the accountant, who prepares the accounts, and the managing director, who decides, there is often nobody to steer cash, make reporting reliable and prepare decisions. Sagora provides a part-time CFO, a few days a month, or an interim finance direction when the situation calls for it: departure of the finance director, restructuring, fast growth or business transfer.

What is a part-time CFO?

A part-time CFO, also called an outsourced finance director or fractional CFO, performs the finance director role in your company a few days a month instead of holding a full-time position. They take charge of financial steering, not bookkeeping: they read the figures, anticipate cash needs and prepare decisions with management.

The pace is set with you according to the size of the company and current stakes, and it changes over time: more intensive during a fundraising or a restructuring, lighter once steering is in place.

What your CFO takes on

The part-time CFO covers the tasks of a finance department, scaled to an SME: they set up the missing steering tools, run them with you and turn figures into decisions.

Cash: forecasting, monitoring of working capital requirement, alerts before tensions arise.
Management reporting: income statement, cash flows and key indicators, read and discussed with management.
Budget and financial plan: construction, variance tracking, scenarios.
Banks and investors: financing files, dialogue with financial partners.
Decisions: investments, hiring, pricing and trade-offs, with their figures.
Governance: preparation of board meetings and of discussions with the statutory auditor.

Start with a diagnostic

Interim finance direction

When the finance director position becomes vacant or an exceptional situation requires it, Sagora provides an interim finance direction, part time or full time, long enough to stabilise the function and hand it over in good order.

Departure or prolonged absence of the finance director, with no immediate successor.
Restructuring or cash under pressure, calling for quick reinforcement.
Strong growth, fundraising or acquisition.
Preparation of a business transfer and handover.

How an assignment works

Every assignment starts with a financial review of the company, followed by a written scope: objectives, perimeter, pace of intervention, deliverables and contacts. Follow-up then takes place in regular sessions with management, each with written minutes.

Review: reading of the accounts and of the existing steering tools.
Scoping: objectives, perimeter, pace and deliverables agreed with you.
Steering: regular sessions, management reporting, follow-up of decisions.
Handover: when you hire a finance director, the function is handed over to them in good order.

Why Sagora

Sagora is a Belgian financial intelligence firm founded in 2006, bringing together professors from Solvay Brussels School (ULB) and corporate finance practitioners. Its finance direction assignments rely on the same methods as its diagnostics: analysis of the accounts filed with the National Bank, sector comparison and financial modelling.

The team on your engagement

Professors at the Solvay Brussels School (ULB) and corporate finance practitioners. Participants rate Sagora 4.9/5 on Google, across all activities.

Assignments are led by Mathias Schmit, founder of Sagora, professor of finance at Solvay Brussels School (ULB) and doctor in management sciences, together with Sagora's advisory team.

Pr. Mathias Schmit

Professor of finance at Solvay Brussels School, Director of Executive Education Programmes, PhD in management science (PhD Management Science, Solvay), founder and Managing Director of Sagora

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Going further

Frequently asked questions

What is the difference between a part-time CFO and an accountant?

The accountant keeps or reviews the books and prepares the annual accounts: they shed light on the past, within a legal framework. The part-time CFO steers: they forecast cash, build the budget, explain variances and prepare decisions with management. The two roles complement each other.

How many days a month should I plan for?

It depends on the size of the company and current stakes. The pace is set during scoping, then adjusted: more intensive during a fundraising, a restructuring or a transition, lighter once steering is in place.

How much does a part-time CFO cost?

The assignment is quoted according to the pace of intervention and the scope. You only pay for the agreed time, without hiring a full-time finance director.

When should I call on an interim finance director?

When the finance director position becomes vacant with no immediate successor, or when a situation calls for quick reinforcement: cash under pressure, restructuring, strong growth, fundraising, acquisition or preparation of a business transfer.

Do you work outside Brussels?

Yes. Sagora works in Brussels, across Belgium and in Luxembourg, on your premises as well as remotely.

Where should I start?

With a first conversation about your situation. If you would first like an outside view of your figures, the 360 financial diagnostic is a good starting point.

Let's talk about the financial steering of your company

Tell us about your situation: together we define the pace, scope and deliverables of the assignment.

Start with a diagnostic