Interim CFO – ERP Installation Project Management

If you’re installing a new system in your business and your existing finance team needs extra help… CFO On Call can assist.

Generally ERP installations involve:

1. Design – which should be an interactive process between the external implementation consultant (EIC) and the company.
2. Build/Develop the particular solution designed (EIC)
3. User Acceptance Testing – primarily by company staff with guidance by the EIC
4. Implementation/Deployment – primarily by company staff with guidance by the EIC
5. Post Implementation issues resolution – documented by staff and resolved by EIC

Where an Interim CFO can assist:

• Ensures there is a clearly defined and understood scope of work that covers the tasks of both the EIC and internal staff.
• Design meetings – manages sessions which should be in person with EIC rather than a ‘form filling’ exercise.
• Communicates with internal people who are shown exactly what is required of them.
• Work with the permanent CFO/Finance Team to review the Chart of Accounts
• Works with EIC and CFO/Finance team to understand importance of sub accounts and sub ledgers and how they interact with the General Ledger.
• ‘Tidying up’ accounts pre change over.
• Develops an internal project plan, which complements the EIC plan – so those involved can dedicate time to the implementation.
• Coordinates the efforts of internal people.
• Holds regular meetings of internal people as well as with EIC – documents any issues that need to be addressed and by whom.
• Sets milestones as part of the plan.
• Follow through to ensure EIC build based on the agreed design.
• Work closely with the team on the User Acceptance Testing (UAT) – documenting issues and working with EIC to fix issues.
• Meet EIC people regularly as well as internal meetings.
• Keeping track of agreed costs – understand variances – keep budget on track (it’s easy to go over without realising it).
• Managing inevitable process changes – in the UAT phase capturing these and documenting new processes with people doing the work i.e. not imposing it on them. Involving users along the way so they take ownership.  Potentially an effective team building exercise.
• Having a finance person in the role helps with structure, tidying up etc.
• Maximising all benefits available from the new system.
• Has the same level of knowledge as the CFO – will work with a permanent CFO – helps them to crystallise what they want from the system and potentially brings some distinct experience and perspective to the table.
• Acts as the CFO’s proxy through the implementation.

As you can see from the above, installing a new system is a lot of extra work on top of ‘business as usual’ for your CFO/Finance Team.  To ease the load, whilst ensuring your implementation is a success we’re here to help.

If you’d like to discuss your ERP installation and how we can help please get in touch by filling in the form.

FAQs

What’s the difference between interim CFO and acting CFO?

An interim CFO is a short term, project focused financial leader who steps in during transitions, such as after a resignation or during a restructure. An acting CFO is temporary for a current CFO on leave. Both are temporary roles but interim CFOs are usually brought in from outside the organisation and are often engaged through an outsourced CFO arrangement like ours.

How much does an interim CFO cost?

The cost of an interim CFO depends on the scope, duration and complexity of the work. At CFO On Call we offer a flexible, fixed fee structure that eliminates placement fees and gives you significant savings compared to hiring a full time CFO. Our interim CFOs work virtually so the service is even more cost effective.

Why hire an interim CFO?

Hiring an interim CFO gives you immediate financial leadership without the delay or cost of recruiting a full time executive. Whether you’ve lost a CFO, need help with a special project or are installing a new ERP system, an outsourced CFO gives you access to deep expertise, fast. Our Virtual CFO model means your interim CFO can work remotely, reducing overheads while delivering value.

What should an interim CFO do?

An interim CFO should stabilise your finance function, maintain business continuity and provide strategic insights. At CFO On Call, our interim CFOs deliver reports you can act on, mentor your team, manage ERP rollouts and review systems and processes so your business keeps moving forward.

When should I hire a fractional CFO?

A fractional CFO is ideal when your business needs strategic financial guidance but not a full time CFO. You might be planning growth, raising capital or navigating complexity. Through our Virtual CFO service, we offer fractional support tailored to your needs — including interim solutions when required.

What’s the difference between an interim CFO and a virtual CFO?

There’s a lot of overlap. An interim CFO is a temporary role, often project based or to fill an urgent gap. A Virtual CFO performs similar duties but works remotely and on an ongoing or flexible basis. At CFO On Call, our virtual CFOs often act as interim CFOs — giving you senior financial support without the commitment or cost of a full time hire.