Nearly every business needs a chief financial officer. But every business does not need a full-time CFO, nor can every business afford one. Gary Aldridge brings an alternative option to those organizations as he launches Deep Bench CFO in Nashville.
Gary served in CFO and senior financial positions for 25 years. The companies he served ranged from start-ups to companies earning more than $100 million in revenue in the telecommunications, hospitality, manufacturing, health care, distribution, and nonprofit fields. This hands-on experience led him to create his company, Deep Bench CFO. His goal is to help more businesses increase cash flow, solve management and operational inefficiencies, in other words, to “build business value.”
Every successful business, like a successful team, needs a deep bench of talented professionals to help maximize the value of the business.
“The CFO impacts every dollar that comes in and goes out of a business. The CFO is like a rudder on a ship,” Gary said. “Without a rudder, you may go fast but you don’t know where you’re going. A CFO keeps you on course financially.”
Deep Bench CFO offers three branches of service, including accounting, CFO services, and exit planning. CFO services aim to maximize a company’s value by setting up systems for accounting and budgeting, financial planning and improving inefficiencies.
One inefficiency improved through Deep Bench CFO is the wasted time and extra expenses of having a full-time CFO in organizations that don’t need one full time. The Deep Bench CFO model offers company services only when they need it. Deep Bench saves companies from paying costly benefits, full-time salaries, vacation time, hiring expenses, and training. Many companies outsource attorneys and information technology specialists. Deep Bench adds accounting and CFO services to that list of optional outsourcing for local businesses.
“A full-time CFO with benefits can cost even a small company $150,000 a year or more,” Aldridge said. “For larger companies, that can exceed $200,000 a year and up.” We provide these services at a significantly lower cost, thus saving a business money, while still receiving experienced professional service.
“I first started developing this concept about 15 years ago when I was working with a small business that earned about $16 million in revenue annually. I thought, ‘I can manage several of these, reduce client costs, and provide excellent service.’”
Aldridge developed the idea over time while continuing to work as a CFO before launching his own firm this year. He adds a third tier to Deep Bench’s services with his expertise in exit planning for business owners. He has developed a three-part approach for business owners to help them launch a business, grow a business, and then exit that business.
“Ten trillion dollars will change hands over the next 10 years as Baby Boomers exit the work field and sell or leave their businesses,” Aldridge said. “I can help plan for that exit. I really focus on building value for a business.”
Gary Aldridge holds a bachelor’s in banking and finance from the University of Mississippi (1982) and a master of business administration in accounting from the University of Alabama (1997). He is a Certified Public Accountant, and Certified Valuation Analyst.
Please join us for the Deep Bench CFO Ribbon Cutting
Date: November 16, 2017
Time: 4-6 PM; Ceremony at 4:30 PM
Location: Williamson, Inc.
5005 Meridian Blvd. Suite 150
Franklin TN 37067
Contact: Gary Aldridge