What makes a part time FD different and why does it matter?
A part time fd sets reporting cadence, protects margin with simple rules, and makes cash visible in 13 weeks and 12 months, so decisions speed up, and surprises drop.
If month‑end drifts and margin feels uncertain, a part time fd gives you senior judgement on tap. In UK SMEs, a part‑time Finance Director provides senior judgment for set days each month, so you get usable strategy and a steady reporting rhythm while the team keeps trading. We flag cash when cover for one payroll and the next VAT return looks tight. Explore how our Business Growth Strategies service links cash management with growth planning.
What does a part time FD do each month?
Make the numbers useful for decisions. A part-time FD sets a reporting rhythm that the team can sustain, and the board can use. We publish a month‑end timetable with named owners and dates, lock reconciliations by day 6–7 and freeze the board pack by day 8–9. High‑performing SMEs target ten business days or fewer for month‑end (APQC benchmarks).
Once the rhythm is stable, many teams settle at five to seven days. The pack is six to eight pages and shows P&L, cash, working capital, and a single page of actions. We maintain a 13‑week cash view and a 12‑month forecast, and we reconcile both to your management accounts. In practice, a part time fd owns this cadence until the team does.
How is a part-time FD different from a Controller and a CFO?
Controller
The Controller owns accuracy, close, controls, and compliance. They keep ledgers clean, reconcile accounts, and deliver VAT, payroll, and statutory returns on time.
Part time FD
The FD owns decisions and commercial levers: pricing and margin, cash runway, working capital, hiring priorities, and system changes that affect performance. They translate numbers into a plan the team can execute, and the board can govern.
CFO
The CFO owns external capital events: investor or bank narrative, covenant modelling, capital structure, and M&A readiness.
Rule of thumb: when the question is “are the numbers right?” you need a Controller. When the question is “what should we do next?” you need an FD. When the question is “what will the bank or investor think?” you need CFO coverage. A strong part time fd will work with your Controller and call in CFO firepower when a fundraise or acquisition appears. This split mirrors professional guidance on finance leadership in UK SMEs (ICAEW).
When does a part-time FD make the biggest difference?
Use this quick test. If two or more apply, the model fits.
- Close takes more than 10 working days and there is no published timetable. You feel blind for half the month.
- Board pack looks backward. You lack a simple bridge from last year to forecast, and a short risks and mitigations note.
- Debtor days keep rising. Customers pay late, and no one owns collections.
- Pricing is ad‑hoc. Sales discount to win deals without clear guardrails.
- No reconciled 13‑week cash the team trusts. Cash still surprises you.
- The finance team lacks bandwidth or coaching. Good people, wrong cadence.
If you approved a discount at 5:20 p.m. to close a deal, you need guardrails. If you learn about cash shortfalls on day 23 rather than day 3, your cadence is backwards. UK SME finance remains selective (British Business Bank markets report; UK late‑payment crackdown), and consistent cadence with clean working‑capital signals makes supplier and lender conversations smoother. A part time fd resets the reporting rhythm and stabilises cashflow discipline.
What results can you expect in 60–90 days?
Month‑end follows a predictable timetable with named owners and dates. A seven‑page board report shows P&L, cash, margin by line, and working capital with actions on one page. A reconciled 13‑week cash view and a 12‑month forecast inform hiring, pricing, and spend decisions. Pricing guardrails cut leakage.
Collections targets bring debtor days down. When discounts above five percent require giving, average discounts fall and win rates hold. Finance roles and processes are clear so the Controller can maintain hygiene. Aim to reduce DSO by six to eight days within the quarter, subject to customer mix and enforcement cadence. If the fit looks right, the next question is cost and cadence. A part time fd prepares you for both.
What will your board ask first, and what should be on each slide?
- Runway now and with planned hires.
- DSO trend with the next actions on the top ten accounts.
- Margin by line with your give‑get rule.
- Next month’s close timetable and who signs off reconciliations.
What does a part time FD cost in the UK?
Companies usually pay a day rate or a monthly retainer for scoped days. Indicative UK ranges: £1,000–£1,500 + VAT per day or £2,000–£8,000 + VAT per month depending on scope, speed, sector, and location; treat these as guidance, not a quote.
Plan in ranges: budget a few days per month for cadence and reviews, then add project days for upgrades, pricing work, or funder readiness. The right question is value per pound: will this cadence and judgment change decisions and outcomes?
When should you not hire a part-time FD?
- Bookkeeping and controller basics are broken. Fix hygiene before strategy.
- You need daily exec coverage through a transaction. Choose interim or full‑time.
- You want statutory compliance only. A Controller or accountant is enough.
What does the first month with a part-time FD look like?
In week one, we run a diagnostic, publish the close timetable with owners, outline the board pack, and baseline cash and working capital. Week two produces the first 13‑week cash view and the 12‑month forecast, a pricing and margin review, and a collections plan with named actions. In week three, we issue first board pack and the KPI page with DSO, DPO, DIO, on‑time delivery, and margin by line. By week four, the guardrails are live, we rehearse month‑end and agree roles and the process map with the Controller. Throughout month one, a part time fd works alongside your Controller to embed the rhythm.
Weekly: 30‑minute cash and collections stand‑up (top debtors and new promises), a margin flash by line, and operations highlights.
Monthly: day‑8 report pack with one‑page actions, and a short risks and mitigations note reviewed in the meeting.
What should you know if your FD joins the board?
If your part-time FD becomes an appointed director or acts as a de facto director, standard Companies Act duties apply. Agree the scope and reporting lines and record any conflicts.
How do you choose the right part-time FD?
Look for stage and sector fit, with experience in SMEs like yours and systems you use. Ask to see artefacts: a sample board pack, a 13‑week cash template, and pricing guardrails. Be clear on cadence: days per month, who owns what, and how handover works. If your FD practises independently, confirm professional standing (ICAEW or ACCA), insurance, and whether a practising certificate is required for the work. Speak to references who can point to better cash, stronger margin, and a tighter reporting cadence.
Tip: a capable part time fd can show a six to eight‑page board pack your team can run after they leave.
Where Evoke Management fits
Learn more about our About Evoke Management page to understand our ethos and leadership approach.
Evoke Management embeds part‑time Finance Directors who work hands‑on with your team to build the reporting rhythm, cash visibility, and pricing discipline that help founders make better decisions. We work alongside Controllers to keep hygiene tight and support your wider growth plan. See Part‑Time Finance Directors and Business Growth Strategies.
Book a short call. Bring last month’s numbers. We’ll tell you if a part time fd fits and outline a sensible starting cadence.
