Growing companies do not always have the need or the budget for a finance director. However, as they expand, finance support becomes more critical. Cash flow management, budgetary control, performance management, strategic financial planning, complex tax issues, fund raising, acquisitions and exit planning can add tremendous value to a business. A good FD is able to provide all of these services and much more.

Digital FD was formed to provide ambitious small to medium sized firms with access to an experienced finance director on flexible terms,  costing much less than employing one full time. Our approach is to firstly ensure that processes and systems are designed efficiently, leveraging the latest cloud based technology and paperless office principles. Digital FD can build (or adapt) this function in-house or out source to a third part provider. Once the efficient and accurate production of management information can be relied on, then a more flexible and cost effective approach can be adopted by the finance director. For example, this might involve a day in the office each week – or even once  a month, complimented with meeting attendance, email monitoring and report reviews. It is important that the FD should be paid for performing an FD function not that of a financial controller or group accountant. We also believe it is important that the FD is seen as a partner in the business, not a “gun for hire”. As such we believe it is important that the finance director has a stake in the future success of the business.

Digital FD was formed by Richard Rhodes (ACMA). Richard qualified as an accountant in 1996. He worked for Merrill Lynch for ten years gaining a reputation for an entrepreneurial approach to business support and finance, the innovative application of technology and team building. His final role at Merill was as CFO for the International Private Bank. He then spent 3 years in Thailand with his young family, building a successful portfolio of small businesses. He even implemented a cloud based accounting system on a remote island resort – pioneering at the time! Over the last 7 years, Richard has worked as the finance director for growth firms in the UK, mainly in the  financial services sector. He has served on 15 boards, executed 10 acquisitions, sold a business and business assets worth in excess of £25m and raised £30m in PE funding.  Quantifiable tax and cost savings from initiatives across his career amount to over £15m.