Data Access Will Power CFOs’ New Role in 2023

Businesses expanding globally will face numerous Black Swan challenges in 2023 and what will power them through is data access, so says Joe Pergola, Chief Financial Officer at Connatix, a New York-based video technology company for publishers and advertisers.

Pergola believes CFOs must partner closely with CEOs to navigate the economic headwinds and sat down with PYMNTS to discuss his insights on 2022 and the challenges facing CFOs in 2023. 

According to Pergola, his company’s growth has resulted in an expansion of his duties as CFO. In addition to overseeing finance and human resources, he is also guiding the implementation of new enterprise resource planning (ERP) and financial reporting tools, as well as helping with the development of buildouts and new strategies for HR. At the same time, Pergola said that his background prepared him for multifaced responsibilities.

“Throughout my career, I’ve been very close with product technology and sales and marketing, and it’s really made me much more well-rounded,” said Pergola. “Where I’ve seen the [CFO] role evolve, is really moving to being more of a co-pilot partnership with the CEO.”  

As such, Pergola says he’s focused on working with the CEO to deliver data-driven insights. “I get to serve as a trusted counsel and promoter of fresh things because I’m holding the keys to the financial data and the opportunities for ROI.”

Data and Economic Concerns Will Drive CFO and CEO Collaboration

CFOs have more access to vital insights than ever before. With the evolution of that data access, Pergola said, CFOs are becoming more involved than ever before in the development of the business model architecture. They are also working more closely with CEOs on everything from the systems and processes that constitute business operations to quality assurance and compliance issues. “We’re really thinking through the financial aspects of everything, from ‘Are we going to clear an accounting review?’ to, ‘Can we go back to the board and ask for more investment?’ because we (CFOs), have clear line of sight to the opportunities.”

Looking out for opportunities is one of Pergola’s main duties, but so is his ability to help prepare the company for uncertainty entering 2023. As Black Swan events like the Ukraine conflict and global health crises threaten to impact clients and marketplace volatility, Pergola stated his focus is on helping customers strategize scale.

“Those macro-economic headwinds are always on my mind day in and day out,” said Pergola. “You know the Ukraine conflict continues to be front and center — [we’re thinking about] how it’s going to impact our ability to scale in the EMEA marketplace, and whether or not those advertisers have the appetite to really be out there with their messaging and that environment.”

Managing Real-time Bidding Requires More Than Powerful Tech

Connatix’s ad server facilitates real-time bidding (RTB) — AI-powered live auctions that occur in milliseconds — to power video content monetization. Key to the company’s success is its ability to ensure that B2B payments are seamless.  

The demand side of the business, where publishers offer purchase inventory, has been growing rapidly, said Pergola. Managing connections between supply (content publishers) and demand requires more than a robust tech stack. Pergola says that part of his job is helping publishers and advertisers get the most for their investment.

“We’re a full ecosystem, and that relationship continues to differentiate ourselves from our competitors,” Pergola said. 

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