May 12, 2022

FaaS, a time-sharing DAF for VSEs and SMEs

[CONTENU PARTENAIRE] Offer the services of a part-time CFO? This is the (successful) bet made by FaaS to enable its customers to improve the financial management of their company.

FaaS: for à la carte administrative and financial management

For VSEs and SMEs, use a Administrative and financial director full time represents a considerable cost. It is on the basis of this observation that FaaS has developed its service offer. The company enables companies tooutsource this mission with high added value thanks to a part-time CFO. What minimize its costs, while optimizing the financial and administrative management of its business.

Optimize financial management at the right price

Cost calculation, analytical monitoring, reporting, implementation of performance indicators… no company can do without rigorous financial and administrative management. However, before having reached a certain size, salaried a DAF represents a heavy load for the TPE and the SME. This threshold, FaaS estimates it at a turnover of around 8 to 10 million euros. Below, a salaried DAF works only partially on themes to high added value. The rest of his time is often devoted to assignments that could be taken on by a junior management controller or an office manager, which is much less costly for the company.

Calling on a part-time CFO therefore makes it possible to make savings substantial. On average, outsourcing this function costs one third of the cost of an in-house CFO. To achieve this result, FaaS focuses on tasks that require a high level of skills, and very often, the day-to-day management of its client’s finances is taken care of by an office manager. Ultimately, these are between 1 and 10 days of work per month that the FaaS team supports depending on the needs and size of the company.

A part-time CFO as a creator of value

Thanks to the experience acquired within FaaS and during their professional careers, the company’s part-time CFOs can intervene on all the subjects traditionally dealt with internally by an Administrative and Financial Director. Their objective ? The valuable creation. Here are several examples of missions that FaaS assumes:

  • The organization of the financial department and processes with the aim of reducing processing times, implementing a cash culture and improving EBITDA by making the right trade-offs.
  • The implementation of Reporting / Budget / BP, identification of KPIs and alternative indicators, ROI by BU / activity allowing to make the right strategic decisions and to prioritize investments by adopting a ROI vision.
  • Support for fundraising and the entry of new shareholders into the capital of the company;
  • Management of relations with shareholders, auditors, chartered accountants, banks or any other financial partner (BPI France, region, etc.) with the aim of ensuring the robustness of financial information and obtaining the trust of partners.
FaaS: for à la carte administrative and financial management
FaaS: for à la carte administrative and financial management © FaaS

FaaS also intervenes on specific missions to strengthen a financial department in place. For example, FaaS gives its clients the benefit of its WCR expertise by carrying out a preliminary audit, then rolling out the action plan so as to improve the company’s WCR and by establishing a cash culture there.

The role of FaaS is twofold. It is first of all about consolidate the financial and administrative management of the supported company. A healthy situation that allows the business manager to take the right decisions in the best conditions. But it also benefits the company’s image vis-à-vis its partners, in particular its banks and shareholders.

Responsiveness at the heart of FaaS priorities

Subject to many constraints, companies must respond quickly and effectively to regulatory changes, to the demands of their customers and suppliers, or to market fluctuations. By entrusting the position of CFO to an external service provider, it is legitimate not to want to lose reactivity. This key element is inscribed in the genes of FaaS: “A part-time CFO for support full-time” is the formula used on the company’s website.

François Ulrich, founder of part-time FaaS and CFO, translates this concretely and in detail engagement. With an outsourced CFO, there is no need to embark on the (long) search for a new employee or to resort to the services of a headhunter. It also starts with a good estimate of the accompanying time necessary for the business. On a case-by-case basis, the number of days of presence in the premises of the company is fixed in consultation with the client, with the flexibility necessary to adapt according to the evolution of the company. But it goes further: for example, if the part-time CFO is present physique one day a week, he remains available from a distance the rest of the time for all requests requiring a quick response. Enough to solve all the problems that may arise over the next 4 days!

This content was produced with AGENCE DELTA. The BFMBUSINESS editorial staff did not participate in the production of this content.

in partnership with AGENCY DELTA