An interim solution as a lever for transformation

An interim solution can do much more than fill an empty chair and handle the critical tasks for a while. Because if you use your interim consultant strategically, you gain a sparring partner who can both look at your company's challenges with fresh eyes and guide you safely through important changes. That's what Alessandro Colombo, former VP Finance at Monta, knows, and he has agreed to share his experiences with us.

Alessandro Colombo welcomes us to Monta's offices in Østerbro with a friendly smile and a dialect that reveals both his Italian origins and that he lived in the USA for a period as a child. Something that has shaped his life and meant that already during his studies, he knew he wanted to try working abroad. And for several reasons, he chose Copenhagen.

"I enjoy working in start-ups and scale-ups, where I can combine my financial toolbox with an entrepreneurial mindset that's about building everything from the ground up and supporting the founders' growth ambitions. And I also liked the pragmatic approach you have in Denmark," he says.

This has led him to the role of VP Finance at the Danish scale-up success Monta, where he started in 2021 as their first finance employee – and actually as one of the first employees altogether.

When a company has undergone such tremendous growth, as is the case with Monta, there is often a need for an upgrade in the support functions so they can keep pace with the business' needs.

"Heading into 2024, we were still a small team. Considering the scope and complexity of our activities, it created both challenges and opportunities," says Alessandro Colombo.

Because it's not easy being a small finance team in a company with a financially complex product. At Monta, most of the complexity lies in Monta Wallet, which is the digital wallet you use to purchase electricity through Monta's app, and which has a significant transaction volume.

Add to this that Monta has expanded their international operations through a 'land grab' strategy, where they entered more than 10 countries almost simultaneously to capture the market for charge point management.

"We operate in a relatively new industry, so there's strategic value in being first. But it also puts enormous pressure on the finance function, because we had to both manage large cash flows and maintain compliance in the new subsidiaries," he explains.

"We had actually grown so fast that our internal capacity couldn't keep up. Eventually, we realised we had to get an external consultant to help us – both because we needed extra hands and to get fresh eyes on the task. That way, we could also use the opportunity to professionalise the finance function so we could support the business even better."

Monta's Finance team needed a temporary Head of Reporting and Controlling to take over a number of important tasks and help the team get back on its feet, so they could meet the demand from the rest of the business.

And it had to be someone who could be physically present in the office and lead the team through a major transformation.

"I knew Basico beforehand, both from my previous work, where we had good experience using interim consultants, and through what I've heard from other financial managers in Copenhagen. So it was natural to reach out to you, as I knew you had solid experience in the area," he says.

And when a company grows as quickly as Monta has, according to Alessandro Colombo, it's good to bring in someone from outside who isn't as emotionally involved in what's going on in the company.

"There were some situations where I was uncertain about an important decision. And here, the sparring I had with our interim consultant from Basico was important – both when she challenged me and when she confirmed that my decision was the right one."

It was important for Alessandro Colombo to use the interim consultant strategically and not just as extra hands.

Therefore, he saw the interim consultant's knowledge as an opportunity to elevate the department to a new level, where they could work more proactively and have a clear plan for how they meet challenges.

Along the way, the team has undergone a major transformation, which has included new processes and workflows to ensure that tasks don't fall between two stools or get postponed due to lack of resources.

This has led to organisational changes, amongst other things, so the team can better distribute their expertise and efforts where it creates the greatest value for the business.

"We have much clearer roles and areas of responsibility now, and we've filled important positions, so we have a strong team that's ready for the challenges we have this year," says Alessandro Colombo.

Now that these pieces are in place, Alessandro Colombo has moved to a new position at another company. And he leaves behind a finance function that stands considerably stronger than when he started in the role at Monta.

"Monta has some big things in the pipeline within the next year that will be very significant for us, and I'm proud to hand over a finance function that's ready to support those initiatives and future growth."

It's also clear that Monta's finance department has become a more attractive workplace. "We've been able to attract candidates who contribute valuable new perspectives and experience – building on the strong foundation that's already in place. That's obviously a reflection of Monta having solidified its position in the market, but I also see it as a reflection of the transformation we've undergone."  

Before we leave Alessandro Colombo, we have one last question:

What would you say if you could give advice to someone who's in the situation you were in six months ago?

The answer comes promptly:

"Do what we've done. Bring in a skilled interim consultant and utilise their professional toolbox and experience to get your foundation in order and set up your team so you're not constantly chasing tasks."

And preferably do it earlier than they did themselves. "We could have gone through that transformation a few months earlier. It probably would have been a bit easier for everyone involved as well."

Alessandro Colombo smiles slightly, but then becomes serious. Because, he admits, there was also an element of personal pride in not getting outside help until it was absolutely necessary.

"So I'd probably like to add: Don't think about your personal pride, and don't think that it's not okay to bring in external support."