February 21, 2019

An Interim CFO Brings Financial Stability & Profitability To Healthcare Providers

Healthcare spending was projected to increase by 5.4 percent annually from 2017 to 2022 according to the US and Global Health Care Industry Outlook compiled by Deloitte. That’s over $10 trillion by 2022.

The United States continues to outpace other countries on projected spending — both in public and private healthcare — with a grand total of $5.7 trillion projected from 2017 to 2026. Yet with nearly double the spending compared to similar countries, the positive health outcomes are worse in the United States.

Healthcare organizations who want to stay competitive must deliver positive outcomes while running a sustainable, profitable business. Many healthcare providers are now opting to outsource the expertise of interim Chief Financial Officers (CFO) to steer them toward a healthy financial future.

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February 12, 2019

The Strategic CFO

“How many businesses find their data to be a complete mess?” Christie Kelly, former CFO of JLL Real Estate questioned as she and a panel of high-profile CFOs discussed the changing landscape for financial leaders at an event held by the National Association of Corporate Directors.

In today’s world every business now seems to be in the game of being a technology business. That means that a new importance is placed on data, especially for CFOs.

“How do we transition to turn it (data) into insights, and how does that change finance to have more technology, process, and Six Sigma?” Kelly said.

The role of the CFO has evolved, due to the accelerated pace of the digital age. How? A strategic CFO drives transformational change. A CFO must not only understand a business from start to finish to provide financial excellence, but also must predict what is coming from a strategic standpoint and be ready to evolve.

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November 6, 2018

How an Outsourced CMO Enables Business Growth and Builds Brand Power

More than ever, a consistent brand that customers trust is critical to business growth. Whether product or service-based, B2B or B2C, local or global-focused, a strong brand with a great reputation is what enables a company to expand successfully.

Behind every powerful brand, stands an innovative Chief Marketing Officer. An experienced CMO can strategically plan and scale marketing plans during periods of business growth.

But not all companies can afford to hire a full-time CMO on a permanent basis. Many startups and midmarket companies reach a tipping point where they either expand or stagnate. All too often, the rate of business expansion they want to achieve outpaces their available operational resources and time.

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July 23, 2018

Signs Your Struggling Business Needs Help

Olivia Wagner | President, InterimExecs

We were having a conversation with an executive recently who shared about their experience parachuting into a business that was struggling with operational inefficiencies.

This executive, like many interims, kicked off the assignment by meeting face-to-face with the management team and employees to learn how the business functions, what’s working, and what isn’t. Their findings would turn into an operational roadmap of the business, where they would set out and implement a go-forward plan. When meeting with one team member and learning about what they did, the executive pointed to a process they had in place asking “why do you do that?”

 The answer: “Because we’ve always done it that way”

 (Alarm bells begin to loudly ring)

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June 28, 2018

Latin Got Interim Right 2,000 Years Ago

Robert Jordan | CEO, InterimExecs

My daughter eagerly accepted an internship at the morgue. Wait – how does she put it? The medical examiner’s office. Regardless, all I hear is morgue. Anyway, let’s move past the whole your-daughter-is-around-dead-people issue because here’s the interesting thing. They ask their interns to sign a statement agreeing to work pro re nata.

This was a new phrase for me: pro re nata. It is latin for “in the circumstances” or “as needed” or “as the situation arises.”

I believe the phrase is really a guiding light for the best interim execs around the world, because the best leaders operate as needs demand – pro re nata.

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May 29, 2018

How an Interim Chief Information Officer Transforms Good Companies to Great

All companies use information technology to some degree.

Great companies have CIO leadership on the management team to purposefully leverage information technologies in creative and sometimes disruptive ways – to grow business, produce faster than competition, enrich customer experiences, and make business transformation happen.

Many full-time CIOs dedicate their careers to one specific industry, and so their experience is vertically deep. Interim CIOs on the other hand, provide a unique perspective blending innovation and technology transformation across a variety of organizations and industries. They specialize in change, bringing an attractive depth-of-experience from a career of change management, while leveraging ever-evolving technologies. It is this change-leadership experience that is highly valuable to a proactive board or management team facing the challenge of business transformation, especially where information technologies are an enabling and differentiating factor.

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May 3, 2018

How to Evaluate Executive Candidates

“A man’s got to know his limitations.” Clint Eastwood’s immortal line as San Francisco detective Harry Callahan in the movie Dirty Harry stands true today when board of directors and management teams think about how to evaluate executive candidates. If you have been in management, ownership or board leadership long enough, sooner or later you’ve learned that no one has a perfect track record when it’s come to hiring.

So how do you increase your chances of success?

You’ve already taken the first step – by thinking of interim executives in order to mitigate your risk. You are making sure you have a clear roadmap and understanding of the leadership skillsets needed to get you where you want to go before committing to anything permanent too soon. That’s good.

Whether interim or permanent, there are questions to ask and ways to evaluate your organization’s fit with an executive leader.

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March 20, 2018

Growth Story: $4B Company Engages Transformational CEO to Spinoff Software Startup

Corporations know that innovation is key to their continued growth, but what happens when serious product or service reengineering is not within the organization’s DNA? What if the company is just too successful or set in their traditional world?

That is exactly what happened when a multi-billion dollar construction company came to us with a software division they had launched internally. While the company was superb at architecting, planning, engineering and building major construction projects, developing software was a new ball game.

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February 26, 2018

Case Study: Interim CEO Aligns NonProfit Member Network of Eye Banks

Non-Profit, Vision Share, is the consortium of eye banks that banded together in 1998 to get corneas ready for transplant, into the hands of surgeons around the globe. With 18 eye banks, the consortium provides a space to share best practices, help advance innovation and technology, and pool resources to reach surgeons fast.

After having a full-time CEO on board for two years, the board determined they were not getting the results they were looking for.

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February 14, 2018

Interim CIO Drives Technology Transformation and Revamp of IT Organization

A multi-billion dollar consumer products company wanted to revamp the organization to stay competitive and relevant to customers around the globe. One area of focus was technology. IT had been outsourced, and as a result the company lost control of its ability to innovate. Acquisitions over the years compounded the problem, with divisions in silos operating with extreme variability in skills, behavior, interface and processes country to county.

From Europe to Asia to South America and North America, management came together with a vision to take a disjointed organization and transform it into one collaborative global IT structure. Under this model IT would take charge of application and infrastructure management, security, enterprise architecture, staffing, and performance management. 

The global CIO had his hands full, running several initiatives:

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