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Björn Wahlström, CEO
Spotlight: Sphere State Group
The problem
We’ve been on a strong growth journey for the last 6-7 years. It’s at times been very hard to keep up. I’ve been running the company now for seven years. And it’s been hard to figure out the getting the right level of financial support that I needed. I’ve had financial assistance that helps me with the day-to-day and I’ve had corporate secretaries as third parties to help with the administration of finance, but it’s hard to find the right approach to get financial advice to the executive level, which I knew we needed. But we didn’t really have the financial muscles to hire a full time CFO. This is where The CFO Centre helped us.
Since 2007 Sphere State Group has provided in-depth experience in all areas of risk and has helped numerous clients around the world to stay out or get out of trouble. http://www.spherestate.com
The solution
We needed a structured approach to raising capital and our CFO, Clement, has done an excellent job for us. He helped us figure out that approach and successfully secure the capital we needed. We’re not a large group, but there’s quite a few companies within the group and we also needed to find a system of strong but manageable internal and consolidated reporting. Clement really helped us sort that out together with the different stakeholders.
Clement provided the strategic support I needed to get reliable and meaningful consolidated reporting for the group.
“For any business questioning when to bring in a CFO—my advice is: don't wait. The right support is closer than you think.”
We considered a part-time CFO for two years before we did anything about it. I think the advice I would give is you can do it that bit sooner than you think through a fractional CFO type of solution. Looking back, I wish we would have gone ahead sooner. Clement and The CFO Centre really has worked out well for us.
The CFO Centre’s solution
"At times in a small company, you're quite alone at the top with decision making and having someone else on senior and strategic level that that can sit down with you when you're looking at a potentially impactful decision is invaluable. As many CEOs I sometimes rush into something that sounds exciting on a business development level, and with Clement by my side I have the nuts and bolts of strategic financial thinking with me in the room."
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