Interim management is still less widespread in Italy than in other European markets, but it is growing fast — especially in the role of the interim CFO. Many Italian SMEs find themselves in transition phases where they need senior financial expertise but have neither the budget nor the need for a full-time finance director.
What an Interim CFO does
Responsibilities vary with the company’s stage, but the most common areas of intervention are:
- Reorganising the finance function and reporting processes
- Managing treasury and working capital in times of strain
- Preparing and negotiating bank financing
- Support on corporate transactions: acquisitions, disposals, capital increases
- Building a management control system
- Supporting the owner in strategic financial decisions
- Recruiting and training the internal staff who will take on the role permanently
When a interim CFO makes sense
Rapid growth without adequate structure. When a business grows fast, the finance function often does not keep up. An interim CFO can build the structure needed and then hand it over to an internal team.
Liquidity crisis or restructuring. In situations of financial difficulty, having an experienced leader who manages the banking relationships, coordinates creditors and builds the turnaround plan can make the difference between recovery and closure.
Business succession and transitions. When the owner steps back and the successor does not yet have financial experience, a interim CFO ensures continuity and supports the transition.
Before a sale or acquisition. Preparing a business for an M&A process requires specific skills: normalising the accounts, building the data room, managing due diligence. An interim CFO with experience of these transactions is often the most efficient investment.
How long it lasts and what it costs
An interim management engagement typically lasts from 6 to 24 months. Fees are structured by the day or as a monthly retainer, in proportion to the time committed — which can range from 1–2 days a week to full time in the most intensive phases.
The cost is significantly lower than that of a full-time CFO with equivalent experience, taking into account salary, benefits, social security contributions and recruitment time. Above all, you pay for results, without the fixed costs of a permanent structure.
The difference between a consultant and an interim manager
A consultant analyses and recommends. An interim manager decides, implements and takes operational responsibility. This difference is fundamental: the interim CFO is not an outside observer producing reports, but part of the team with full responsibility for the finance function.
Further reading
Can I help you with this?
If you are going through a phase of transition or growth and need experienced financial leadership, we can assess together whether an interim management engagement is the right solution.
