by Mike Walsh | Mar 30, 2020 | From Around the Web
Facebook, Google to be stronger after Virus Crisis
Cathie Wood, chief executive officer of Ark Investment Management, discusses her views on how the coronavirus outbreak is affecting U.S. technology giants.
Credit Bloomberg
Sourced through Scoop.it from: www.technology-in-business.net
Really interesting to think about how the tech giants will fare after the crisis, and how that could potentially change the landscape!
CEO of CloudMyBiz Salesforce CRM consulting services with a deep knowledge in the lending industry. Taking keen interest in the project management side of operations, playing a vital role in the 31% YOY company growth. Strategic leader, mastering the ability to problem solve at every level of the business, providing effective solutions for clients.
by Mike Walsh | Jan 16, 2020 | Success Stories
Triumph Business Capital provides invoice factoring for the trucking industry to over 7,000 small to mid-size businesses across the United States.
The Challenge
Triumph is a long-time user of Salesforce, but only for sales engagement. Underwriting was always implemented using a manual process.
Management had been reluctant to expand their use of Salesforce as the operations team was resistant to change and not tech-savvy.
Market pressure, as well as concerns from it’s parent company about profitability, were requiring a turnaround 1-2 days on loan applications,
but their legacy processes average 5-7 days. Additionally, having two separate, disconnected systems had been operationally ineffective and
was preventing Triumph from scaling while remaining competitive and profitable.
The Solution
Triumph turned to CloudMyBiz (CMB) for an assessment of not only the sales side of the system but to provide a reality check on what would be required to migrate underwriting onto Salesforce, transition the process, train the operations team and significantly speed up the turnaround time on deals. The enhancements required for the sales side were minimal, the underwriting and processing side was the exciting
challenge. CMB developed a roadmap that started by listening to the operations team’s concerns and apprehensions. With that knowledge, the team got to experience how they would be trained and then shown all the advantages and benefits they would experience with an implemented Salesforce platform.
The Result
A high-level of engagement by the admin team enabled CMB to quickly, and painlessly automate the manual processes, eliminating many of their mundane and redundant tasks, as well as a myriad of inefficiencies. Both sides of the company realized vast improvements in customer satisfaction, reduced operational cost and time for each deal while increasing lead conversion and overall transparency for the parent company.
“We were really drawn to the team’s responsiveness and how much they wanted to understand the business: they wanted to be a partner in the strategy as well as implement a solution.“
– Haley Heard, Senior Project Manager
Key Benefits
- Increased new client signings 3% year-over-year
- Reduced application underwriting time from 5-7 days to 1 day or less
- Reduced head count by one-third
- Implementation of an opportunity timer provides:
- Advanced metrics on employees speed at each stage of the process
- Enabling targeted training and re-hiring efforts, further increasing efficiency
- The company now consistently scores excellent marks from the auditors
Interested in learning more?
Have specific questions or want to talk to a FUNDINGO consulting expert?
Contact us at info@cloudmybiz.com
CEO of CloudMyBiz Salesforce CRM consulting services with a deep knowledge in the lending industry. Taking keen interest in the project management side of operations, playing a vital role in the 31% YOY company growth. Strategic leader, mastering the ability to problem solve at every level of the business, providing effective solutions for clients.
by Mike Walsh | Aug 30, 2019 | Blog, Salesforce Tips
One of the most annoying parts of funding MCA deals is the waiting period after you send an email submission. After it’s sent, you have no way to know what’s going on with your deal and the only way to check on the status is to follow up again and again with your representative. So without any insight or tracking on the process, you have to just sit back and hope for the best. The answer? The new Pearl Capital Salesforce App that allows you to submit via Salesforce and get real-time deal updates 24/7.
We are bringing you an exclusive early adopter opportunity to connect with Pearl Capital, and get better, faster insight and transparency into your deal submissions. The Pearl Capital Salesforce App was developed by industry experts, and tailored specifically for MCA deals.
The app is easy to set up and status update alerts are totally customizable – so you can choose when and how you want to find out about status changes. Find out more about the app and sign up to learn if it’s right for you by clicking below.
Click here to sign up!
-Ryan and the CloudMyBiz Team
Want to get started with Salesforce?
Need some custom consulting or development to enhance the Salesforce you already have?
Contact us
CEO of CloudMyBiz Salesforce CRM consulting services with a deep knowledge in the lending industry. Taking keen interest in the project management side of operations, playing a vital role in the 31% YOY company growth. Strategic leader, mastering the ability to problem solve at every level of the business, providing effective solutions for clients.
by Mike Walsh | Nov 12, 2018 | Success Stories
Imperial Advance, a leading small business lending and financial services company in New York City, provides small businesses the access they need to fast and affordable working capital. The company provides an unparalleled level of customer service and a commitment to helping all businesses achieve their goals.
Imperial Advance is proudly recognized by the Better Business Bureau (BBB) as an Accredited Business, achieving an A+ rating for its proven record of trustworthiness, ethics and commitment to outstanding client service.
The Challenge
When Imperial Advance came to CloudMyBiz, their growth had plateaued. They were essentially blocked from any further improvements or innovations due to a no longer effective legacy system.
Inefficient Processes:
- They had a slow onboarding process for new hires and procedures.
- It was difficult to submit loan applications to lenders for approval.
- Deals were often being sent to the wrong lenders, taking too much time, or not getting approved in time
- They had to go to the ACH portal every day to review all balance sheets, navigating in and out of many screens and apps to find the details of each deal
Limited Deal Tracking, Reporting and Disconnected Systems:
- Deals were being tracked on spreadsheets, and separate systems that didn’t talk to each other
- While on a call, reps had a limited view of customer contacts, history, and deals
- Their lack of reporting options made it almost impossible for management to track deals and get an accurate understanding of weekly cash flow
- It was difficult to track deals and provide exceptional customer service, leading to lost deals and unhappy customers
- The cost of acquisition of each closed deal was very high, as they were not able to target their marketing spend, leading to low conversions.
- Their lack of weekly cash flow metrics restricted their ability to take on new deals
Why FUNDINGO?
FUNDINGO is a loan management solution, created by industry experts, and designed specifically for Alternative Lending companies. It streamlines the entire process of originating, underwriting, and servicing loans. Unlike a hodge-podge of outdated and unconnected systems, each handling only a single element of the lending process, the FUNDINGO solution helps Alternative Lending companies attract and close more deals, accelerate the underwriting process, generate more pricing options, reduce errors, and ensure greater consistency.
For Imperial Advance, FUNDINGO was the perfect solution because it would provide them with:
- An end-to-end platform to integrate all of their different systems
- Significantly improved tracking and reporting on lead conversions and marketing campaigns
- A better and faster way to submit deals to the right lenders
- A system that would give them actionable insights, allowing them to scale while reducing the cost of acquisition.
With these upgrades, Imperial would be able to jumpstart their business.
The Result
The FUNDINGO solution, developed and implemented by CloudMyBiz, became the new foundation for Imperial’s business.
The project included implementing Sales Cloud, FUNDINGO Origination and a number of 3rd party apps such as Conga and Docusign. As we often do at CloudMyBiz, the project also included a number of customizations tailored specifically to Imperial Advance’s unique process. Some of our most significant tweaks for this project were: a customized FUNDINGO loan submission wizard, added a number of lender API’s, financial/ACH integrations and the implementation of a whole host of automations, alerts and reporting options.
Imperial’s funding process, from start to finish, became faster, more user-friendly and smarter. As a small company, they saw immediate improvements to their entire business, from faster deal submissions to significantly improved metrics and data insights. The turn around was so significant, that within a few short months Imperial was able to expand, and open a new office in Miami, where they now emphatically endorse Salesforce, and the FUNDINGO solution. Their stagnation is definitely a thing of the past.
Interested in learning more?
Have specific questions or want to talk to a FUNDINGO consulting expert?
Contact us at info@cloudmybiz.com
CEO of CloudMyBiz Salesforce CRM consulting services with a deep knowledge in the lending industry. Taking keen interest in the project management side of operations, playing a vital role in the 31% YOY company growth. Strategic leader, mastering the ability to problem solve at every level of the business, providing effective solutions for clients.
by Mike Walsh | Oct 25, 2017 | News
Conversica Automated Sales Assistant Integrated to Salesforce
LOS ANGELES (PRWEB) OCTOBER 24, 2017
CloudMyBiz and AI Assist Powered by Conversica, have teamed up to change the way Merchant Cash Advance (MCA) companies do business with an automated artificial intelligence system that nurtures leads, improves conversion and response rates and increases ROI. Conversica’s A.I. Sales Assistant is a brand new approach to the sales process, and through the CloudMyBiz Salesforce Frameworks, that A.I. will now be custom tailored to the Alternative Lending and MCA Industries.
“As a Salesforce consultant and developer, we are always on the look-out for quality apps and technologies to bring to our clients,” said Henry Abenaim, Founder and CEO of CloudMyBiz. “When it comes to the sales process, we have seen that developing leads and relationships can cause significant pain and slowdown for our clients. The Conversica A.I. Sales technology is something that could dramatically alter the face of Alternative Lending and MCA.”
AI Assist uses the Conversica advanced Sales Assistant A.I. to tirelessly follow up on leads, intuitively develop relationships and then transfer hot leads to real salespeople to close the deal. Built on the idea of humanizing automation, A.I. Assist Powered by Conversica uses proven sales methods and psychology to boost sales and ROI by making the sales process warmer and more personable.
“We have noticed that our Salesforce customers see a higher overall ROI, because of the ease and workflows that the Salesforce and Conversica integration allows,” said Roman Vinfield, President of AI Assist, powered by Conversica. “With the MCA industry being such a big part of our business, we have been looking for a best in breed organization to partner with who will maximize the benefits of our technology for our clients. We couldn’t be happier to partner with CMB, who couldn’t have a greater reputation in the MCA and Lending industries. We are excited to work together and to bring current and future clients a superior product”
About CloudMyBiz
The CloudMyBiz team, via the Fundingo suite of apps, empowers business through the Cloud and encourages streamlined collaboration between departments, clients, customers and partners. CloudMyBiz focuses on Salesforce Implementation, Migration, Integration and Development, Third Party Applications, and Custom App Development, all specializing for the lending industry.
About AI Assist
AI Assist is an exclusive partner of Conversica, and the only provider of the Conversica software for the finance industry. Conversica provides lead management software for marketing, inside sales and sales organizations. Presented as a customized online persona, Conversica engages and nurtures leads through natural email exchanges until the lead converts into an opportunity or opts out. Conversica is used by more than 12,000 sales representatives worldwide and has assisted in the creation of more than US$8 billion in sales revenue.
Contact Information:
Dennis Mikhailov
Business Development | CloudMyBiz, Inc.
P 818.732.4316 | M 818.419.7339
dennis@cloudmybiz.com
Roman Vinfield
President AI Assist Powered by Conversica
P 917.664.7200
roman@aiassist.com
CEO of CloudMyBiz Salesforce CRM consulting services with a deep knowledge in the lending industry. Taking keen interest in the project management side of operations, playing a vital role in the 31% YOY company growth. Strategic leader, mastering the ability to problem solve at every level of the business, providing effective solutions for clients.
