Providing CFO services and Business Transition Services in Dallas/Fort Worth, TX and surrounding areas
Fort Worth, TX CFO
35 Years of Experience
Miami University (Ohio)
Certificates & Licenses:
Contact Bruce Benes and receive a free Discovery Analysis™
- A confidential meeting with the business owner(s), then interview company staff.
- Look at the company’s financial information and computer systems.
- Benchmark financial information against industry averages.
- Create a confidential report of our findings in The Strategy Gameplan™
Bruce is an experienced CFO who integrates the operating processes with financial reporting resulting in improved efficiencies and business profitability. His focus on communication and education helps build organizations that understand their key success factors and how to challenge the status quo to drive targeted and measurable improvement. These efforts help all team members understand how their actions impact cash planning and budgeting with an increase in profitability.
Bruce has worked with entrepreneurs, not-for-profit boards and mid-sized companies both domestically and internationally, as well as, in construction, automotive, manufacturing, and service industries. Through this experience, Bruce has:
- Secured bonding and managed banking relationships including lines of credit, term and mortgage loans, and bank work-out programs.
- Developed long range plans and annual operating budgets including new business development funding and owner exit strategies.
- Managed working capital through improved collections and cash management planning resulting in increased capacity for growth.
- Implemented and converted accounting software for timely operational reporting and efficiency.
- Managed sales tax, insurance and external financial audits for timely results and reduced expense.
- Trained staff on operating system applications and reporting to increase marketing activity effectiveness while improving operational profitability.
Bruce was the CFO of a large regional general contractor where he improved financial reporting, increased cash flows and improved overall profitability. He has hands-on operating experience having led disaster response teams reconstructing hurricane Rita damage along the Gulf Coast. He has worked to drive revenue growth of close to 100%, effectively managing cash flows, lender relations and staffing.
Bruce also has experience working through tough economic cycles. He has negotiated the sale of business units, planned and implemented major organization restructuring, and developed and coordinated marketing programs to increase market share.
Bruce has a solid reputation of providing valuable insight for planning and practical counsel based upon realistic experience. His ability to manage multiple disciplines and projects allows him to quickly grasp the critical issues facing an organization.
Bruce earned a Bachelors of Business Administration from Miami University with majors in Finance and Economics. He has completed additional post-graduate accounting courses and passed the certified public accountancy examination.
Bruce and his wife Lorna have two high school sons who attend Southwest Christian School. Bruce serves on the school's board of trustees, along with the finance and endowment committees.
Contact Bruce (817) 729-0688
Who Needs a CFO?
Every Company Needs a CFO
Companies without a Chief Financial Officer are at a competitive disadvantage. It’s not unusual for small to mid-sized firms to have sophisticated operations and complex cost and financial challenges like large companies. This often means that the CEO or the owner of the business needs the expertise of a senior financial executive.As an owner or CEO of a company, have you ever wondered how to solve the problems you’re facing? Have you ever spoken with another owner and come to the conclusion that what you really need is the advice of a CFO . . . but knew that you either didn’t need a CFO on a full-time basis or couldn’t afford the cost of a full-time CFO? Did you then decide to give up on finding the advice you need?You are not alone.
ADVANTAGES OF OUTSOURCING CFOs
Better financial information for key decision-making.
It’s a fact: most small to mid-sized businesses either don’t prepare financial statements, or they are not reliable. Another fact: you simply cannot make important business decisions while relying on bad, inaccurate, or incomplete information. If you have found yourself frustrated with the lack of information from your bookkeeper or controller, chances are the information they are giving you is of questionable value. You cannot effectively run a business in that situation.
More time to spend with customers.
To be competitive, you need to spend most of your time with current and prospective customers. Particularly today, you need to be with your customers as much as possible. Just as you are trying to get new customers, your competitors are trying to meet with your customers. You simply need to be spending the majority of your time with them.
More money from the bank and from vendors.
Bankers and vendors are more sophisticated than ever. With the current financial situation affecting all businesses, they are more skittish about lending to anyone other than the largest and safest companies. And they require regular, reliable financial statements. The financial statements must look professional, follow accepted accounting principles, and highlight the company’s key ratios. A CFO working with you on a part-time basis can improve your company’s external “image” and assist you with opening doors to banks and obtaining better vendor terms.
Other advantages to having an outsourced CFO include:
- A sounding board for the owner in making key decisions
- Fewer cash flow surprises
- Better trained accounting staff
- A theft deterrent
- Better documentation and controls
- Fewer surprises relating to tax payments
- Solutions to company problems