Coworking is a weekly segment where we talk to CFOs and others in the finance space about their experiences, their companies, and the larger economy. Let us know if you are—or you know—a CFO we should interview.
Eliran Glazer is CFO of workplace-organization software company Monday.com, which went public in 2021. (Disclosure: Morning Brew is a Monday.com client.) He’s served as CFO of public and private companies going back 20 years.
This interview has been lightly edited for length and clarity.
Monday.com went public roughly a year ago. What was that like getting ready for your first IPO?
I’ve been around in finance for about 20 years, the last 15 years as a CFO in mostly private companies, in the high-tech industry, and global industry in the US. [In] February of last year, Monday asked me to join to lead the IPO. The IPO was in June and [we had] only four months to get up to speed. I had to learn the people, get to know the business, and get up to speed with the analysts, the bankers. It’s like drinking from a firehose. I think the one important thing that I would emphasize is resilience. If you remember last year, there were multiple IPOs—not like this year—and everybody was super busy. So you have to kind of juggle around a lot of things.
Is there a part of your job that maybe you didn’t expect you would be doing when you first started out in finance?
Actually, I was lucky because when I started my career, I worked with a CFO who told me that when you focus on accounting, focus on the business side of the company and get to know your stakeholders, get to know the sales manager, get to know the marketing manager. And you know, these are [the] kinds of tips that helped me down the road. The CFO used to be the bean counter, or the guy who when everyone would come with the sexy ideas, [and] he said, “No, no, it costs too much money. There’s no return on investment.”
What’s changed—at least from my perspective—over the course of the last 10, 15 years, is the CFO has become more like a partner to the CEO; it’s much more strategic than what it used to be. Because when things are going south, like what happened with Covid-19 in the last nine months or even things before, CFOs are becoming the [professionals] on the front seat and have to lead, not only to follow, and I think this is one of the most important evolutions.
News built for finance pros
CFO Brew helps finance pros navigate their roles with insights into risk management, compliance, and strategy through our newsletter, virtual events, and digital guides.
How do you keep things on an even keel, both internally and when you’re thinking about where the company’s going over the next few months?
You have to understand that this is a marathon. It’s a long-term play. And you know, try to think beyond the first, second, and third year. Second thing is: we don’t want surprises. We need to be proactive in the way we forecast the business. So when you provide a long-term plan, and you try to forecast the business, then it mitigates the risk of having surprises. Thinking longer term, planning in advance, not being surprised, a proactive approach—this is what I would say are the things that will help you to go through these troubled waters as a CFO.
Is there one thing that the CFO of say, two or three years from now, should be thinking about to best prepare when they finally do get the top job?
I would advise them to bring the best people that they can. Don’t be afraid to bring talent that can even be stronger than you and, to a certain extent, people are the No. 1 thing that will make you successful, to get to the next level. [The] second is learn. Educate yourself. You asked me, “How did I manage when I joined, what helped me to do the IPO?” I listened to earnings calls. I read prospectuses of other companies. I read S-1s. So I would say, educate yourself in understanding the business and the metrics that support the business that you work in, but also get an education on things that are related to the CFO role.
Is there something that if I looked at your LinkedIn profile, I wouldn’t be able to guess about you?
Yeah, I do snowboarding. And to be completely honest, you have to enjoy your job. There are stressful times as the CFO, but it’s really good to enjoy what you’re doing.—KL
Editor's note 10/11/22: This post has been updated to clarify a quote.