CFO Tech Outlook: Specials Magazine

Jack M. Jacobs is the Senior Vice President of Commercial Banking at WesBanco Bank Inc., specializing in developing relationships with Middle Market companies. He focuses on providing tailored banking solutions, including lending, treasury management and fraud protection, to clients both locally in Pittsburgh and nationally. Jack is dedicated to driving growth for the bank while remaining actively involved in his community through volunteerism and local engagements. Strategic Banking Solutions for Middle Market Companies My role with the bank involves a focus on increasing market share by bringing in the relationship of Middle Market companies within our footprint. I work in the Pittsburgh market but also have clients who are headquartered outside of the city. Daily focus includes tailoring solutions which align with their goals in all areas of banking including lending and depository needs. We offer complete lending solutions to our corporate clients including revolving credit lines, permanent working capital, equipment financing, loans to facilitate M&A, commercial real estate, etc. Maximizing Value through Comprehensive Banking Services In addition to commercial lending, we help our clients protect themselves from fraud while maximizing their cash flow with the appropriate treasury management services. Outside of the bank, it is important to stay involved in the community. Volunteer efforts and attending important functions in the city are a way to make a difference in the market. “My role with the bank involves a focus on increasing market share by bringing in the relationship of Middle Market companies within our footprint.” The competition is stronger than ever. For a large share of banks, the growth engine and largest profit center of the organization is the commercial bank. At the same time, companies have become increasingly more educated on the important nuances of their banking relationship. It is not as vanilla as simply looking at loans and de

What challenge do multi-entity organizations face when financial systems vary by location? Franchises, dioceses, accounting firms and other multi-entity organizations operate as networks of independent entities, each maintaining its own accounting system and chart of accounts. As these networks grow, financial data becomes inconsistent across locations, making reliable consolidation and benchmarking difficult. For CFOs and finance teams responsible for multi-entity oversight, fragmented reporting limits financial control and delays informed decision-making. How does Qvinci centralize financial and nonfinancial data across distributed entities securely? Qvinci was developed specifically to resolve that fragmentation within one-to-many accounting and data environments. The platform connects directly to QuickBooks and other accounting and data systems used across distributed entities, securely extracting financial and nonfinancial data from each location into a centralized cloud environment in near real-time. Aggregation alone, however, does not create clarity. The core challenge lies in aligning fundamentally different charts of accounts and data sets without mandating uniform accounting practices. Qvinci addresses this through automated structural mapping, translating disparate financial and data architectures into a standardized corporate reporting model while preserving local independence. “Clarity doesn’t come from more reports. It comes from having the right data structured the right way,” says Brad A. Adams, president, CEO and chairman. “If you have fragmented data, you get garbage data in, garbage analysis out.” Why did standardizing disparate accounting structures require engineering at the data layer? Solving that alignment problem required engineering at the data layer. In 2008, Qvinci invented and patented its automated consolidation framework to standardize financial reporting across different accounting environments. The company now holds nine patents covering the processes that enable this automated mapping at scale..

What initial challenges do foreign entrepreneurs face when establishing businesses in the United States? “As a foreign national living in Florida for 10 years, I’m trying to help other foreign nationals do the same. To move to the U.S. and to invest in the U.S,” states Rodrigo Barbonetti, owner of SF Accounting Services. That perspective shapes how SF Accounting Services operates. The work does not begin with tax filings. It begins with incorporation, because that is where some of the most consequential decisions are made. Many foreign nationals assume forming an LLC is straightforward. In practice, it can generate reporting obligations and liabilities in their home country that are often not explained at the point of setup. Barbonetti’s position here is direct: most clients arrive focused on the finish line without understanding how the structure they chose determines every outcome that follows. They start from the end, focusing on taxes, rather than on how the company is created. That thinking also governs how roles are divided within the firm. In most small practices, the owner handles both advisory and execution. At SF Accounting Services, the two are separated. Barbonetti focuses on guidance and counsel, while other qualified professionals handle processing. Advice is always free. Fees apply only to work that is actually executed, giving clients the space to understand their situation fully before committing to a course of action..