Array Information Technology’s Bob Deegan, who serves as senior vice president and chief financial officer, has been instrumental in leading the company through one of the more difficult transitions in the federal IT industry: graduating from small business status. He and the leadership of ARRAY accomplished this, while also executing a management buyout of the founding owner.
As CFO, Deegan is responsible for all day-to-day accounting, finance and contracts including internal and external financial reporting, budgeting, pricing for bids/proposals, corporate taxation, insurance risk management, financing and banking relationships, and compliance reporting.
In 2019, Deegan restructured ARRAY’s debt load, saving the company over $600,000 a year. In 2019, the company finalized five years of incurred cost audits by the Defense Contract Audit Agency, with no financial impacts.
As the company continues to evolve, Deegan oversees the increase of full and open contracts by 33% year over year. For the sixth consecutive year, ARRAY has maintained or increased revenue, while transitioning contracts out of the small business program.
Deegan has held senior executive positions in multiple companies specializing in government contracting since 1988. He has worked with 8(a) companies, graduated them and worked with large businesses. He holds a bachelor’s degree in accounting from Mount Saint Mary’s College and is active in the local soccer community, having run a soccer club for the past 18 years.
Deegan continues to oversee ARRAY’s evolution into a paperless accounting environment — 100% of invoices are currently issued electronically, and all vendor vouchers are in an electronic format. In 2020, he will focus on the continued conversion of contracts from small business to full and open. Deegan has positioned ARRAY to have its revenue mix grow to 65% full and open. He will oversee the continuation of debt paydown, without compromising investments necessary to achieve the company’s growth targets.