FAQs: Should I Hire a Project Consultant for Finance & Accounting Support?

Finance and accounting teams are no strangers to workload spikes—whether it’s year-end close, an annual audit, an M&A deal, or beyond.

Yet many teams struggle to efficiently scale their workforce up and down to satisfy these changing workload demands—something we call talent elasticity. When teams can’t adapt to these spikes, they risk increased errors, delayed reporting, and noncompliance. Project consultants combat this challenge by swiftly adding capacity when a new challenge or initiative emerges.

In this article, we answer commonly asked questions about project consultants, including:

• What is the ROI of consultants vs. full-time hires?
• What’s the difference between project consultants and interim professionals?
• Which finance and accounting tasks can project consultants execute?
• When does it make sense to bring in a project consultant?
• Which human capital partners are best for finding top-tier project consultants?

Let's get started!

What is the ROI of project consultants vs. full-time hires?

Full-time employees—especially Force Multipliers—are essential to a powerhouse talent strategy. An organization’s workforce is its greatest source of leverage. With high-impact employees, teams are better equipped to bridge skill gaps and execute multi-year initiatives effectively.

However, organizations that rely too heavily on full-time professionals risk under- or over- staffing as demand fluctuates. The true cost of a bloated workforce goes beyond severance expenses—employer reputation and employee morale suffer when organizations are forced to scale back after overstaffing.

Employers can overcome changing workloads and remain resource efficient with project consultants. Project consultants drive value through:

• Subject matter expertise: Consultants apply deep, cross-industry knowledge to solve complex challenges and accelerate outcomes.
• Enhanced workforce agility: Teams can scale up and down at any time.
• Accelerated completion times: Consultants adapt to new projects and ramp up quickly.

What’s the Difference Between Project Consultants and Interim Professionals?

Both project consultants and interim professionals offer strategic support for the Office of the CFO as non-permanent experts. Their engagements, however, diverge in scope and duration.

• Duration: Project consultants offer short-term support, while the timeline for interim professionals can vary depending on client needs.

• Scope: Project consultants are brought in to complete a predefined assignment. Their work focuses on tactical, hands-on execution for key deliverables such as an ERP implementation, audit preparation, or process improvement. On the other hand, interim professionals can backfill roles or provide additional part-time support alongside current teams. Instead of being restricted to a subset of deliverables, these professionals embody entire roles within the organization without becoming a full-time employee.

Which Finance and Accounting Tasks Do Project Consultants Execute?

Finance and accounting project consultants can execute assignments across all aspects of the finance function, such as:

• Technical accounting: SEC reporting, FASB research, and IPO readiness.
• Operational accounting: Accelerating month-end close, payroll processing, reconciliations, and cost accounting.
• Audit and compliance: Audit preparation, SOX implementation, third-party risk management, internal controls documentation, and access control reviews.
• Tax and treasury: M&A transaction, tax planning and compliance, risk management, and working capital optimization.
• FP&A: Budgeting and forecasting support, pricing analysis, and capital expenditure analysis and planning.
• Transaction support: Buy and sell side due diligence, acquisition and divestiture analysis, purchase price allocation, and Chapter 11 support.
• Financial systems: ERP implementation, data conversion and testing, and “quick hit” process implementations.

When Does it Make Sense to Bring in a Project Consultant?

When evaluating whether to bring in a project-based consultant, ask yourself:

• Do I need short-term or seasonal support (example: year-end close)?
• Does my team lack bandwidth to take a new project on?
• Would delays or inaccuracies lead to compliance risks or missed deadlines?
• Are deliverable(s) clearly defined?
• Do I need tactical execution, not just strategic advice?

If the answer is yes to most of these questions, a project consultant could be the right fit.

Which human capital partners are best for finding top-tier project consultants?

An effective human capital partner provides deep industry and functional expertise to help employers identify the right consultants quickly and confidently. Beyond expertise, look for a partner who is:

• Locally managed: Led by an accessible, hands-on owner or managing partner.
• Domain experts: Specialize in the functional area you’re hiring for.
• Established: Longevity signals stability, reliability, and deep market knowledge.
• Principled: Operates ethically, earning trust through reputation—not at the expense of the consultants they place.
• Value-driven: Focus on the long-term success of the business, rather than meeting quarterly expectations from investors.

Impactful Resources: Execution. Redefined.

Locally owned and managed since 2012, Impactful Resources is a leading provider of accounting, finance, and IT resources based in Southern California. As a full-service human capital firm focused on supporting emerging growth and middle market companies, we help firms scale to meet the needs of rapidly changing market conditions. Whether the solution is a special project, interim backfill, or a permanent placement, Impactful Resources can satisfy a wide range of client needs.