When I started studying finance I found that these departments had a lot of responsibility. It really didn’t seem to matter how well a company was doing. If the finance department is out of synch then the whole company will eventually falter. That is why it is so important to have a strong finance management department leader in place.
I discovered Brian Bonar as the CEO of Trucept. He has been there for more than 4 years, and the company has seen some grow under his leadership. He has been able to produce and keep investors happy for Trucept so the stock has been able to flourish. There have been some ups and downs just like any other business entity, but Brian – for the most part – has been able to weather the storm and make this staffing company thrive. He has had former experience in financial services and outsourcing services, and I believe that this may be the main thing that has made him successful. In a former position he worked with Dalraida Financial Services for 16 years. In the job before that he held on to a position as the founder and managing member of AMS Outsourcing. This gave Bonar 6 years of experience. This is an excellent combination because he knows the staffing side and the financial side of the business. That is the very reason that Trucept has been able to thrive in the last 4 years.
Any company that is going to be successful must have a successful financial department to place that line in the sand. Many executives will spend money relentlessly because they are passionate about a certain idea or concept. It may take the strong leadership from executives in finance to really analyze the potential investment and decide if this is worth considering. The finance department leaders – in most cases – serve as that fine toothed comb that checks to see if there is really a true return on investment from what is going to be spent. The department also has the put for the effort to see where funds are going to come from if money is being spent.
I have seen companies fold just because they don’t have the right financial management team in place. Money will be spent heavily, but there may not be any plan in place to see how the company will bounce back from the spending or make a return on investment. Bonar is in a good place because he has the ability to make decisions about the company from the mindset of someone that has ran a financial services organization. He has the insight to plan according to what the company truly needs.