Name: Transforming CRM in financial services: LeanData's approach
Uploaded: 2024-06-13T15:43:27.004Z
Duration: 538.6
Description: Matt Lyman, VP of Marketing at LeanData, talks about LeanData’s revenue orchestration platform. Matt explains how LeanData helps enhancing operational efficiency through data management to provide seamless customer support.

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English

{{00:00:05}}
Hi, I'm David Penn, Research
Analyst with Finovate.

{{00:00:07}}
We're here at FinovateSpring in San
Francisco, and joining me is Matt Lyman.

{{00:00:10}}
He is the VP of Marketing with LeanData.

{{00:00:13}}
Thanks for joining us, Matt.

{{00:00:14}}
Thank you.

{{00:00:14}}
I thought before we got started,
you could tell us a little bit

{{00:00:16}}
about LeanData for folks who aren't
especially familiar with the company.

{{00:00:18}}
Sure.

{{00:00:19}}
Yeah, LeanData has been
around for about 12 years.

{{00:00:22}}
We are a revenue orchestration platform.

{{00:00:25}}
What that means is that, we allow
you to take everything in your CRM.

{{00:00:29}}
We don't touch any of it.

{{00:00:30}}
It sits right in the middle.

{{00:00:31}}
Okay.

{{00:00:31}}
Allows you to take all the signals
that come in and orchestrate

{{00:00:34}}
them to however you need them.

{{00:00:36}}
be it, data hygiene, be it sales
motions, be it any of that.

{{00:00:41}}
Interesting.

{{00:00:41}}
We're going to talk a little bit
about data hygiene momentarily, but

{{00:00:44}}
I wanted to start off with here.

{{00:00:45}}
LeanData tends to emphasize the
importance of customer experience

{{00:00:48}}
and operational efficiency.

{{00:00:49}}
Could you talk about that in connection
with what you said in the introduction?

{{00:00:52}}
Yeah.

{{00:00:53}}
What LeanData really does is you
think about a big flow chart, right?

{{00:00:57}}
It sits inside of Salesforce, your CRM.

{{00:01:00}}
we currently have other CRMs on
the roadmap as well, but it sits

{{00:01:03}}
inside and it listens for, anything
that you create and it removes all

{{00:01:08}}
those daisy chains of multiple tools
and puts them all in one place.

{{00:01:11}}
So you can say it did this and now
we're going to walk through, we're

{{00:01:14}}
going to match it to an account.

{{00:01:16}}
We're going to convert it into a contact
or into an opportunity if we want to, and

{{00:01:20}}
then it's going to move the rest of it.

{{00:01:22}}
So when I look at the operational
efficiency specifically, you

{{00:01:26}}
start thinking about all of the S.

{{00:01:28}}
L.

{{00:01:28}}
A.

{{00:01:28}}
S.

{{00:01:29}}
You might have or all of the
dashboards you might need all of those.

{{00:01:33}}
As you move through the flow, you can
audit, you can track and you can actually

{{00:01:37}}
see how everything is connecting.

{{00:01:40}}
as far as customer experience,
That's where we, where everyone

{{00:01:43}}
really makes their, makes hay, right?

{{00:01:45}}
Like customer experience is what
gets people to stay with companies.

{{00:01:48}}
It gets people to come back
to them and refer them.

{{00:01:52}}
And if you give somebody a bad
customer experience, it's not great.

{{00:01:56}}
So LeanData is ability to take the data
you have and match, route and, action

{{00:02:02}}
on anything, any object on any field,
on any object allows you to have a.

{{00:02:08}}
Full 360 degree view and really
be able to, help not just The

{{00:02:14}}
customer, but your team support
the customer makes a lot of sense.

{{00:02:18}}
we're going to talk a little bit
more about things beyond data

{{00:02:20}}
hygiene, but I did want to stay
on that point for just a moment.

{{00:02:22}}
Can you talk about how it functions as
a way of deduplicating, cleansing and

{{00:02:25}}
maintaining data hygiene, clean data?

{{00:02:28}}
yeah, you bet.

{{00:02:28}}
so we are not a data hygiene tool.

{{00:02:31}}
I put that in quotes.

{{00:02:32}}
We can't.

{{00:02:33}}
We help you do that at the front.

{{00:02:35}}
So we work with a lot of
companies across industries.

{{00:02:39}}
We have over 1000 customers of all sizes.

{{00:02:42}}
Some of them you have definitely heard of.

{{00:02:44}}
Some of them are here.

{{00:02:46}}
And what we do and we help them with
is that you think volume coming in.

{{00:02:52}}
If you are using a standard, matching
and deduplication product that you

{{00:02:57}}
have just within your CRM, it's
not always going to be the best.

{{00:03:00}}
And so We have the ability to, it's,
we say industry leading, I'm coming

{{00:03:05}}
from marketing, everyone goes, of
course, but really it is, it's been,

{{00:03:09}}
we've been around for 12 years and it
is, five data points that we've helped

{{00:03:14}}
very large companies like Snowflake,
decrease overall lead, review time by 90

{{00:03:20}}
to 95 percent because of that matching.

{{00:03:23}}
So it can match it.

{{00:03:25}}
It can then say, hey,
let's de duplicate it.

{{00:03:27}}
Let's merge it together.

{{00:03:29}}
And that's all as it comes in.

{{00:03:31}}
We do partner with some different firms
that do clean up of what you already

{{00:03:35}}
have, so we do have that ability as
well, but data hygiene is so important

{{00:03:38}}
because it's garbage in, garbage out.

{{00:03:40}}
And again, back to the customer experience
side, if you are not, if you don't

{{00:03:44}}
have that visibly in front of you and
easy to access, you're you're you're

{{00:03:51}}
up a river when your customer calls in
and you're creating bad experiences.

{{00:03:55}}
Absolutely.

{{00:03:56}}


{{00:03:56}}
Again, we talked that there's
more to it than data hygiene,

{{00:03:59}}
as you mentioned a second ago.

{{00:04:00}}
So beyond some of the basic capabilities,
what are some of the additional

{{00:04:02}}
functionalities that LeanData has?

{{00:04:04}}
Yeah, that's great question.

{{00:04:07}}
So we started back 12 years
ago with matching and routing.

{{00:04:12}}
And it was really just
lead matching and routing.

{{00:04:13}}
And we say lead, it could be whatever
your definition of lead is, but really

{{00:04:17}}
on that object, it is expanded to
so much more than that over that.

{{00:04:21}}
So we actually can do account routing,
case management, routing, all of that.

{{00:04:26}}
But because it is a simple flow inside
of your Salesforce, for instance, you

{{00:04:32}}
orchestrate and operationalize anything.

{{00:04:35}}
So if a field on your record changes, you
can have it notify somebody in your team

{{00:04:40}}
through Slack or through Microsoft Teams.

{{00:04:42}}
You can have it send an email.

{{00:04:43}}
We have integrations with
companies like Sendoso.

{{00:04:46}}
So if you have a customer that, let's
say you're a financial institution.

{{00:04:49}}
You have a customer who opens a
second loan account with you and

{{00:04:54}}
you want to send them something,
you could have it automated.

{{00:04:56}}
So if this trigger happens, it
automatically goes and sends.

{{00:05:00}}
You can also think about it, from a
bit of a workflow perspective, I like

{{00:05:04}}
to use the example of, if you've got
an anti money laundering steps that

{{00:05:10}}
you have to take, you may have a bunch
of different checklist items, a bunch

{{00:05:14}}
of different people, and they all
have to be done by a certain time.

{{00:05:16}}
You can operationalize that and
orchestrate it through your flow

{{00:05:20}}
based off of when one thing happens.

{{00:05:22}}
And because it's all in the
one place, you can see it all.

{{00:05:25}}
You can see when something is broken.

{{00:05:27}}
So those daisy chains go away.

{{00:05:28}}
You now say, Oh.

{{00:05:30}}
This person didn't go here or do this.

{{00:05:32}}
I can click here, see the audit trail.

{{00:05:34}}
so really just opens up the entire,
from a new prospect coming in to upsell

{{00:05:40}}
to customer retention, to customer
experience, and really into even the

{{00:05:45}}
overall, the buying groups motion of
if you're trying to sell into a company

{{00:05:48}}
with a large group, you may not know
who you need to sell to, but we can

{{00:05:53}}
help you start to operationalize that.

{{00:05:55}}
So a sales rep or an account
manager or however, can go

{{00:05:59}}
in and say this opportunity.

{{00:06:01}}
I know that I need to talk to a
person in this team, but here's

{{00:06:05}}
the rest of the buying committee.

{{00:06:07}}
So we have this because it's
in your Salesforce, it works

{{00:06:12}}
with your data, it works with.

{{00:06:14}}
Any field on any object.

{{00:06:16}}
It really is the sky's the
limit and how you run with it.

{{00:06:19}}
Yeah, really interesting.

{{00:06:20}}
I thought maybe a way of wrapping up.

{{00:06:21}}
We could talk just as an overview.

{{00:06:23}}
Maybe some of the points you've made in
terms of LeanData's ability to enhance

{{00:06:27}}
and meet customer needs effectively.

{{00:06:29}}
Yeah, I think about actually have
a presentation on Thursday about

{{00:06:34}}
experiences, but I think about there's
two types of customer experience.

{{00:06:40}}
And if you have a good
one, this is I'm cheating.

{{00:06:44}}
This is in my deck.

{{00:06:45}}
But if you have a good experience,
they say that the studies show

{{00:06:49}}
that you will tell three people.

{{00:06:50}}
If you have a bad
experience, you'll tell 10.

{{00:06:54}}
We all have cable companies that we
have told 10 people about, right?

{{00:06:57}}
And so if you look at that and you're
yelling into the phone just to get a

{{00:07:01}}
representative, and then you get on
the phone with the representative,

{{00:07:04}}
and then they have to send you
to somebody else, and you have to

{{00:07:06}}
give all of your information again.

{{00:07:08}}
Terrible experience.

{{00:07:10}}
But if you are like some of the, the card
companies, Amex is a very good example

{{00:07:14}}
of this, and Nordstrom used to do this
where, Yeah, my favorite story ever is

{{00:07:18}}
that Nordstrom once accepted tires back
a return of tires Nordstrom has never

{{00:07:23}}
sold tires but that customer experience
lasts and so somebody now goes like

{{00:07:29}}
we've we tell that story as an anecdote.

{{00:07:31}}
But American Express for example,
you can call them and they have

{{00:07:35}}
such a 360 degree view of You talk
to one person They can help you.

{{00:07:40}}
They've got all your information.

{{00:07:41}}
You can move forward with your day.

{{00:07:44}}
So LeanData can help take all of
that and you can, as I said, it's, it

{{00:07:49}}
allows you to take your information
and you can read, it reads it.

{{00:07:53}}
And allows you to stamp.

{{00:07:54}}
So you can come in and say
date, time, all this stuff.

{{00:07:58}}
You can track all of that regulations,
all of that, those different

{{00:08:02}}
processes, but really continue along.

{{00:08:05}}
It's all based off of the customer
because what does your customer need?

{{00:08:09}}
let's talk to them, figure it out.

{{00:08:11}}
And now with this simple flow in one
place, we can put it all together and

{{00:08:14}}
we can, as I said, you can stamp it.

{{00:08:16}}
If you have one object, let's
say in a salesforce instance

{{00:08:19}}
that let's, I'm creating.

{{00:08:20}}
This is all off the cuff.

{{00:08:22}}
You have one that's called
when a customer calls.

{{00:08:25}}
Literally, that's where they go
to your customer support team.

{{00:08:28}}
You could have a lot of
different data points that

{{00:08:30}}
come in and your orchestration.

{{00:08:31}}
You can stamp and plug in and connect to.

{{00:08:34}}
So when it's there, it's got
the last time they called in.

{{00:08:36}}
Maybe it's the last time they did
something on your social media.

{{00:08:39}}
All of that.

{{00:08:40}}
Anything you're ingesting,
you can put into one place.

{{00:08:43}}
Wow, really, interesting
and really capable.

{{00:08:45}}
Very interesting stuff with LeanData.

{{00:08:47}}
Thank you for sharing some of that.

{{00:08:48}}
I'm looking forward to your presentation
a little later on in the week.

{{00:08:49}}
Thank you.

{{00:08:50}}
Yeah.

{{00:08:50}}
Thank you very much.

{{00:08:51}}
Thank you.

{{00:08:51}}
And thank you for joining us as well.

Hi, I'm David Penn, Research
Analyst with Finovate.

We're here at FinovateSpring in San
Francisco, and joining me is Matt Lyman.

I thought before we got started,
you could tell us a little bit

about LeanData for folks who aren't
especially familiar with the company.

Yeah, LeanData has been
around for about 12 years.

What that means is that, we allow
you to take everything in your CRM.

Allows you to take all the signals
that come in and orchestrate

be it, data hygiene, be it sales
motions, be it any of that.

We're going to talk a little bit
about data hygiene momentarily, but

LeanData tends to emphasize the
importance of customer experience

Could you talk about that in connection
with what you said in the introduction?

What LeanData really does is you
think about a big flow chart, right?

we currently have other CRMs on
the roadmap as well, but it sits

inside and it listens for, anything
that you create and it removes all

those daisy chains of multiple tools
and puts them all in one place.

So you can say it did this and now
we're going to walk through, we're

We're going to convert it into a contact
or into an opportunity if we want to, and

So when I look at the operational
efficiency specifically, you

You might have or all of the
dashboards you might need all of those.

As you move through the flow, you can
audit, you can track and you can actually

as far as customer experience,
That's where we, where everyone

Like customer experience is what
gets people to stay with companies.

It gets people to come back
to them and refer them.

And if you give somebody a bad
customer experience, it's not great.

So LeanData is ability to take the data
you have and match, route and, action

on anything, any object on any field,
on any object allows you to have a.

Full 360 degree view and really
be able to, help not just The

customer, but your team support
the customer makes a lot of sense.

we're going to talk a little bit
more about things beyond data

hygiene, but I did want to stay
on that point for just a moment.

Can you talk about how it functions as
a way of deduplicating, cleansing and

So we work with a lot of
companies across industries.

We have over 1000 customers of all sizes.

Some of them you have definitely heard of.

And what we do and we help them with
is that you think volume coming in.

If you are using a standard, matching
and deduplication product that you

have just within your CRM, it's
not always going to be the best.

And so We have the ability to, it's,
we say industry leading, I'm coming

from marketing, everyone goes, of
course, but really it is, it's been,

we've been around for 12 years and it
is, five data points that we've helped

very large companies like Snowflake,
decrease overall lead, review time by 90

It can then say, hey,
let's de duplicate it.

We do partner with some different firms
that do clean up of what you already

have, so we do have that ability as
well, but data hygiene is so important

And again, back to the customer experience
side, if you are not, if you don't

have that visibly in front of you and
easy to access, you're you're you're

up a river when your customer calls in
and you're creating bad experiences.

Again, we talked that there's
more to it than data hygiene,

So beyond some of the basic capabilities,
what are some of the additional

So we started back 12 years
ago with matching and routing.

And it was really just
lead matching and routing.

And we say lead, it could be whatever
your definition of lead is, but really

on that object, it is expanded to
so much more than that over that.

So we actually can do account routing,
case management, routing, all of that.

But because it is a simple flow inside
of your Salesforce, for instance, you

So if a field on your record changes, you
can have it notify somebody in your team

through Slack or through Microsoft Teams.

We have integrations with
companies like Sendoso.

So if you have a customer that, let's
say you're a financial institution.

FinovateSpring

Explainer

Matt Lyman, VP of Marketing at LeanData, talks about LeanData’s revenue orchestration platform. Matt explains how LeanData helps enhancing operational efficiency through data management to provide seamless customer support.