Why Hire an Interim Finance Leader?

Описание: Hey, it’s Ray from ‪@pitchhillpartners‬
One of the big questions I get from founders, investors and CFOs is:
“Why would we hire an interim rather than just going straight to a permanent?”
So in this video, I’ll walk through when an interim makes sense — and how to think about value, not just cost.
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Start with the real question: is this about value or cost?
Hiring an interim gives you expert impact, fast, without long-term commitment.
Yes, the day rate can look expensive.
But the better question is: what’s the value?
For example, if you bring in a finance specialist at £1,000 a day who helps you unlock £500,000 of R&D tax credits…
The ROI pretty much answers itself.
So let’s break down the main situations where an interim is the right move.
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1. You need senior firepower before you can afford it permanently
A classic scenario:
• You’re growing
• You’re raising debt or equity
• You need proper board-level finance input…
…but a full-time CFO salary just isn’t realistic yet.
In that case, an interim CFO or senior finance leader is ideal.
They can shape the story for lenders or funds, get you investor-ready, and help you avoid rookie mistakes — without being a permanent line on the P&L.
Sometimes that then transitions into a part-time or “one day a month” board role once things are stable.
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2. Investors want more finance maturity
Another common one: you’re raising from PE or VC, and they want to see more structure.
An interim can:
• Build a proper reporting framework
• Design or tweak the financial model
• Put in place basic controls and governance
• Help you hire a strong permanent No.2 or No.1 in finance
They don’t need to be there forever.
They set it up, ensure it works, and then stay involved at board level if needed.
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3. You need to stabilise, triage, or protect value
Sometimes the business is a bit wobbly.
Maybe performance has dipped, reporting is unreliable, or there’s tension on the leadership team.
Pulling someone out of a stable permanent role into that uncertainty can be tricky — and sometimes unfair.
Bringing in a short-term interim is a smarter way to:
• Stabilise the situation
• Fix urgent issues
• Support a fundraise or refinancing
• Buy yourself time to make the right permanent hire
If there’s suspected fraud, poor cash control, or something that “doesn’t smell right”, an interim can do a targeted independent review.
That can be faster and more cost-effective than commissioning a full-blown Independent Business Review immediately.
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4. You’ve got a project that needs specialist skills
Think things like:
• ERP or systems implementation
• Fundraising
• M&A — buy-side or sell-side
• Integration after an acquisition
• Building a proper forecasting or BI setup
These are naturally project-based, with a clear start, middle and end.
That’s exactly what interims are built for.
You scope the outcomes clearly at the start, they deliver, and then they step away.
A quick tip here:
Make sure knowledge transfer is part of the brief.
Get your permanent team involved in scoping, rollout and handover so the interim leaves a legacy — models, documentation, and a way of working that lives on after they’ve gone.
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5. You’re bridging the gap to a permanent hire
Senior finance hires take time.
You might need to:
• Run a proper retained search
• Meet a range of candidates
• Navigate long notice periods
An interim lets you slow down the permanent decision — in a good way.
You don’t have to panic-hire just to get someone in the seat.
They hold the fort, keep things moving, and sometimes even help define the shape of the permanent role.
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Quick clarifiers: how interims actually work
Just to clear up a few practical points:
• Minimum period: Agreed at the briefing stage. They stay while they’re adding value, not for the sake of it.
• Hours: Outcome-led. Usually full-time during key phases, with some flexibility around the edges.
• Equipment: Many interims use their own kit; regulated sectors may require client hardware.
• Day rate vs fixed-term contract:
o Project-based, outcome-led assignments often suit day rates
o Ongoing, “employee-style” roles tend to sit inside IR35 and look more like a salaried or FTC arrangement
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So, why hire an interim?
Because you get senior expertise exactly when you need it, for exactly as long as you need it — and you only keep them while they’re adding value.
If you’re weighing up whether an interim might be right for your situation, feel free to get in touch — I’m always happy to talk it through.

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