Dave Demedio

Tell us more about your background – what led you to move into the transportation industry after working in the fintech industry?

My path into the transportation industry is a little different than many of my colleagues. Prior to joining Pyle, I spent 16 years at a disruptive fintech company that changed the way consumers purchased goods. I started with the company when it was in the startup phase. As CFO and a member of the senior management team, we grew the business and took it onto NASDAQ.

Macroeconomic changes related to e-commerce, supply chains, consumer purchasing habits, and technology are driving similar disruptive impacts on the transportation industry. Therefore, when looking for the next phase of my career, the future of the transportation and logistics industry presented an exciting opportunity.

What about Pyle attracted you to work for this company?

The transportation industry is ever changing and consistently presenting new growth opportunities. For companies that correctly position themselves, they will be rewarded and will capture that growth. Pyle’s leadership and vision, such as our Integrated Logistics operations, sets us up to capitalize on certain opportunities.

Another thing that attracted me to Pyle was the culture. Those who have worked at multiple companies know how important culture is to establishing a winning environment for all stakeholders. Pyle’s ownership, leadership, and core values represent a company you want to join and work for.

Describe your role at Pyle.

As CFO, I am responsible for Pyle’s financial operations including accounting, reporting, payroll, and treasury functions. Also, as a member of the leadership team, I participate in strategic planning, operational decision making, and risk management to help establish the direction and operating environment for Pyle to be successful.

Are there any new programs or technologies that you have implemented that have resulted in improved efficiencies for Pyle?

When I first joined Pyle, the accounting department had just purchased an Oracle financial reporting and forecasting module; however, implementation had not begun. Within a few short weeks, the module was in full swing of implementation. Once implemented, the product improved the quality and timeliness related to the dissemination of financial reports. We are currently in the process of onboarding an AP Workflow system that will improve efficiencies in multiple processes. We believe this will provide an enhanced platform for financial reporting, budgeting and cost management.

How do you motivate the entire Pyle team to work together to meet operating results each year?

Fortunately, the Pyle team does not need enhanced motivation to meet the goals that are established each year, as the whole team is aligned and onboarded with achieving the collective goal. I work to make sure my team provides Pyle executives with timely reporting and data as to where we stand against those goals, allowing for ample time and any information needed to make operational changes.

No one ever expects to work through a global pandemic. What efficient ways were you able to monitor Pyle’s finances as well as reduce impact on the company and the Pyle family?

A global pandemic was not something anyone anticipated, nor is there any playbook that exists on how to operate your business and manage finances in the midst of one. Our company implemented a number of measures to meet these challenges. The measures ranged from health and safety concerns, such as ordering face masks or hand sanitizer, to employee benefits, such as additional COVID-19 paid time off. We also implemented cost containment measures to help maintain the financial strength of the organization. While some of the decisions were not easy to make, I’m really proud of the way the Pyle team responded and pulled together to put these measures into action. Once we are on the other side of the pandemic, I think we’ll conclude that we did a pretty good job writing our own playbook.

During your time with Pyle, what achievement are you most proud of?

Working in a startup, I was forced to deal with many challenges and I considered myself fairly adept at managing through crisis. That theory was tested twice within the first year of becoming Pyle’s CFO. First, a ransomware attack that took down many of our systems, and second, a global pandemic. We have a great team at Pyle, and I’m proud to be part of the team that led the company through both crises. With that said, I hope to not encounter another major crisis event anytime soon.

What is the most valuable lesson you have learned as a leader?

You’re only as good as the team you build around you.

Any closing thoughts?

Pyle is coming up on its 100th anniversary as a family-owned business. For any company to remain in business for so long is a testament to the ownership, leadership, and employees over the years. I’m proud to be a part of helping that legacy grow.