What can a freelance Finance Manager do?

By Carsten Bjerregaard, CEO, Addcapacity.com

A Finance Manager is the backbone of a company’s financial management and daily decision-making basis. The function ensures that accounting, reporting and budgeting are connected to the reality of the business and management’s priorities. The Finance Manager typically works closely with operations and translates figures from ERP systems, budget tools and BI solutions into concrete insights that management can act on. In many companies, the Finance Manager is the one who creates coherence between strategy and execution by ensuring transparency, timeliness and quality in the financial data. This provides better decisions, more peace of mind in the organization and a stronger financial foundation for growth and development.

1. What does a Finance Manager work on in everyday life?

The everyday life of a Finance Manager is about ensuring stable operations in the finance function and at the same time providing management with a clear and reliable overview. This is where the figures are collected, validated and explained so that they can be used actively in managing the company. The Finance Manager is often responsible for accounting, budgeting, reporting and follow-up – and acts as a natural link between the finance department and the rest of the organization. A significant part of the work lies in prioritizing: Which figures are important right now, and where should they be focused to avoid problems later?

Key daily focus areas

• Monthly closing and accounting quality
• Budget follow-up and forecasting
• Management reporting and analysis
• Cash flow management and follow-up
• Dialogue with managers about finances

A picture from practice: In a busy operating organization, the Finance Manager can ensure that monthly figures are quickly explained so that management can react before deviations become large.

2. What are the most important tasks – where the effort makes a difference?

The greatest value arises when the Finance Manager helps the company prioritize correctly. It is not about measuring everything, but about focusing on the financial drivers that actually affect earnings and liquidity. A strong Finance Manager helps to create discipline around budgets and costs, while also understanding the needs of the business. Here, finance becomes an active management tool rather than a backward-looking control function.

Where the Finance Manager creates impact

• Early identification of deviations
• Focus on profitability rather than volume
• Improvement of cash flow
• Support for management priorities
• Clear financial communication

A specific example: In the case of falling margins, the Finance Manager can point out whether the cause lies in purchasing, pricing or product mix – and thus where action should be taken first.

3. What distinguishes a strong Finance Manager from an average one?

The difference often lies in the ability to combine professionalism with business understanding. An average Finance Manager delivers correct figures; a strong Finance Manager explains what the figures mean – and what should be done about them. This requires overview, prioritization and the courage to challenge decisions when the economy calls for it. At the same time, the relationship with management is crucial: Trust and dialogue make the finance function relevant and value-creating.

Characteristics of high quality

• Business understanding behind the numbers
• Clear and action-oriented reporting
• Proactive dialogue with management
• Focus on the most important key figures
• Ability to create structure and calm

In practice: A strong Finance Manager will often simplify reporting so that management sees fewer – but more relevant – figures that can be acted upon.

4. What tools does a Finance Manager typically work with?

The CFO’s tools are crucial for the quality of the decision-making basis. It is not about advanced systems per se, but about using them correctly and consistently. The best Finance Managers ensure that data is valid, easily accessible and understandable for management. Automation is used to reduce manual work and free up time for analysis and sparring.

Typical tools

• ERP systems for accounting and operations
• Budget and forecast models
• BI and reporting tools

A practical example: With a single dashboard, the Finance Manager can provide management with daily insight into revenue, contribution margin and liquidity.

5. How does a Finance Manager create value – which KPIs are relevant?

The value of a CFO is clearly seen in the company’s management and stability. The right KPIs help maintain focus and ensure that the finances support the business’s goals. The crucial thing is that the KPIs are actively used and understood by management – ​​not just reported.

Relevant KPIs

• Contribution margin and EBITDA
• Liquidity and cash flow
• Budget deviations and forecast accuracy

An example: When budget deviations are detected early, adjustments can be made on an ongoing basis instead of through rapid savings at the end of the year.

6. Who does the Finance Manager collaborate with – and why is it important?

The Finance Manager works closely with both management and the organization. Collaboration with the CEO, sales managers, operations and HR ensures that financial decisions are rooted in reality. Externally, the dialogue with the auditor and bank is central to credibility and freedom of action. Good collaboration is based on understanding, not control.

Key partners

• Management and management group
• Department managers and HR
• Accountant and bank

A concrete picture: When the Finance Manager and sales management continuously discuss the pipeline and forecast, revenue expectations become more realistic.

7. What is happening right now within the Finance Managers area?

The area is developing towards more automation and greater expectations for insight. Standard tasks are being streamlined, while the requirements for analysis, overview and advice are increasing. At the same time, data quality and transparency are taking on more importance because the pace of decision-making is higher than before.

Current trends

• More automated accounting
• More focus on management insight
• Closer link between operations and finance

In practice: Many Finance Managers today spend less time on bookkeeping and more time supporting management in prioritizing.

8. Getting off to a good start – input for your briefing

A good start requires clear expectations. It is important to define whether the need is primarily stable operations, better reporting or more active sparring with management. The clearer the framework, the faster the Finance Manager can create value.

Good points in the briefing

• Clear description of business and challenges
• Expectations for reporting and dialogue
• Access to systems and decision-makers

An example: If the focus is on better liquidity management, this should be clearly prioritized from day one.

Conclusion – when a freelance Finance Manager is the right solution

A freelance Finance Manager can be a flexible and value-creating solution when there is a need for high professionalism without a permanent position. The collaboration is often close, the start-up is quick and the costs are lower than with traditional consulting firms. Some freelance Finance Managers work very hands-on with accounting and reporting, while others primarily contribute with structure, overview and sparring to management. Addcapacity.com helps identify three strong candidates who match both professional needs and the scope of the task – completely without obligation. This provides a solid basis for choosing the solution that creates the most value.