What does the term CFO Consulting really mean? As I have found over the last while, it means different things to different people.
So for the sake of clarity, this is what it means (and doesn’t mean) to me.
CFO Consulting is:
Working with CFOs to help them be a better CFO for the company they are working for, through
- Executive Coaching – helping them become a more capable and effective CFO.
- Training & Development – teaching to and increasing the knowledge, skills and abilities of the CFO.
- Talent Management – providing CFOs with all the processes necessary for a more efficient and effective Finance team – including Talent Assessment, Talent Planning, Talent Succession for the entire the finance group or for specific individuals within finance.
CFO Consulting is not:
- Interim CFO
- Part-time CFO
- CFO Career Coaching
Personally, I find Career Coaching for CFOs to be a needed and valuable service to those senior finance executives who need to plan their career. One such person that offers these services is Cindy Kraft (CFO Coach). She does an excellent job and I highly recommend her.
I’m not knocking those who work delivering Interim CFO or Part-time CFO. At one point in my career, I used to deliver Interim CFO and Part-time CFO services, so I do understand what is involved. There are many good companies and individuals that offer these services. My only issue is that calling these services “Consulting” is not appropriate. Calling them CFO Services is a better name for it.
This is my point of view. What is yours?