Chief Financial Officer, Dovel Technologies
Barry Broadus joined Dovel in August 2019, just weeks before the company closed its acquisition of Ace Info Solutions to diversify its client base and expand its market capabilities. Broadus jumped right in and worked with the team on all closing decisions and details and then took a leading role in the harmonization of the financial operations of the companies.
This effort dovetails into the CFO’s strategic initiative to migrate the three stovepiped finance and accounting organizations — Dovel, AceInfo and MSC — to a shared services model intended to create a more efficient and effective finance and accounting organization. This shared services initiative will include formalizing standard policies, processes and procedures across the finance organization.
And in May 2019, Dovel announced a capital investment partnership with Macquarie Capital. The capital infusion will be deployed to expand Dovel’s reach within the federal market through internal R&D, organic and new market growth, and strategic acquisitions — the first proof point being the AceInfo acquisition.
“Dovel has always been committed to finding ways to introduce leading-edge technology into government to help customers work smarter and make better use of their data,” Broadus said.
Today, the company is involved in several pilots and rollouts applying advanced technologies like machine learning, artificial intelligence and blockchain — pairing the technology experience with domain expertise in health IT, life sciences, public safety and grants management — to ensure solutions meet the needs of users and their environments.
And through its growth from a small to mid-size business, Dovel has maintained its focus on quality, employee satisfaction and agility, according to Broadus.
“Dovel applies strong rigor in software quality, with an industry-leading defect potential and defect removal efficiency that is measured and reported on an annual basis,” he said. “Dovel is selective in what business it pursues. It is a purpose-driven organization and workforce that takes on projects that have an impact on improving, protecting and saving lives.”
Dovel is focused on organic growth through new business wins and successful recompetes in 2020. As CFO, Broadus is focused on improving the pace and depth of delivering key financial metrics to Dovel’s senior management and operations — an initiative that will enable faster, more informed decision-making that benefits outcomes for both the customer and Dovel.
Broadus is also homed in on improving the company’s cash efficiency. Since joining the Dovel team, he has more than doubled the company’s liquidity position. Broadus will also work with the executive team to support three pillars of focus across the company — innovation, customer success and employee growth — by ensuring the right resources are available to meet corporate goals.