Adelphi Consult · Policy and Sustainability Consulting · since 2020
Interim CFO: finance function rebuilt, first monthly close after 100 days
Interim CFO
- 100
- days to first monthly close
- 30+
- people in the finance team led through the change
- Starting point
- Adelphi is one of Europe’s leading sustainability and policy consultancies, with projects for governments, institutions, and companies. The finance function had not kept pace with this growth: no monthly close, no structured budgeting, no financial model that could support management decisions. On top of that, project business with a share of grant funding, which meant complex accruals and a liquidity position that depended on when funders paid out.
- Approach
- In the first quarter, I introduced a disciplined monthly close. After that came budgeting and a financial model with scenarios and forecasting, Power BI as the reporting layer, and a liquidity plan connected to the accounting data. In parallel, I digitalized the finance processes to reduce manual effort and improve data quality, and led the finance team of more than 30 people through this change.
- Result
- A close that is done every month. A management team that, for the first time, has a reliable view of the numbers. Liquidity management that reflects when funders actually pay out, instead of estimating it.
“He quickly got an overview, set the priorities, and managed in very short time to overcome several problems — including introducing a complete new financial reporting system.”
Walter Kahlenborn, Founder & CEO, Adelphi Consult
What I take away from it
In an organization defined by its mission and its experts, finance is easily seen as secondary. Technology alone does not change that. It takes credibility with management, visible value from reliable numbers, and a finance team that carries the change rather than having it imposed from above.
The result was a finance function that matches the quality of the organization. More on how I approach mandates like this under Interim CFO and CIO.