Rapid Success for 3 Small Financing Businesses through Salesforce

CloudMyBiz Consulting Successes

henry@cloudmybiz.com, @CloudMyBHenry Abenaim, Jon Cline, Steve Rosenblatt

Henry AbenaimConsultant@joncline

Sales Executivesteve@cloudmybiz.com

Jon Cline Steve RosenblattFounder and Principal Consultant

henry@cloudmybiz.com

Speaker Panel

Introduction

First Client - Platinum Rapid Funding

Second Client - Imperial Advance

Third Client - 6th Avenue Capital

Conclusion

Q & A

Presentation Outline

Salesforce can be used for not just big companies, but small ones as well● These 3 funding companies implemented Salesforce with less than 50 employees each● Their processes and all around business have improved dramatically since

Salesforce is highly customizable and flexible● All of these clients have unique processes and different business challenges● Salesforce was able to accomodate all of their needs

Less “traditional” industries, like Alternative Lending, can still benefit from the Salesforce platform● They are still selling a product and still need quality CRM capabilities

IntroductionKey Takeaways From This Presentation

● Antiquated, overly manual process that was inflexible, difficult to manage and was losing the company money and deals.

● Their entire business was contained in a 10ft x 6ft file cabinet full of manilla envelopes● Each manilla envelope was manually taken from the cabinet and walked from department to

department to progress.● Cost of growth very high due to labor intensive process.● Almost no automation and little digital processes for

their entire business.

Situation www.PlatinumRapidFunding.com

● Every new change and improvement on their homegrown system would cost them $5k - $10k, even for the smallest changes.

● They were losing money every week - moving too slow lost them deals.

● Competitors were able to move faster, taking existing clients or turning out new deals before Platinum could respond.

“Speed is the new currency of business” -- Marc Benioff

Problem

● They needed a fast, streamlined and automated system to keep their current business

● Needed to compete with bigger lenders and develop new business.

● Needed greater visibility into status, deal deadlines, and activity.

● Post implementation, Platinum reported YoY originations had nearly doubled; $100 million in 2015 to $180 million in 2016.

● Internal team managed continuing automations to save money, grow, and change to meet new needs

Need/Payoff

Salesforce + Ecosystem● Sales Cloud● FUNDINGO Origination, Underwriting, Loan Servicing, & Syndication● AccountingSeed● Conga, Docusign, LaserCredit

Customizations● Offer Wizard to create automated, standardized and lighting fast deal terms● DecisionLogic and Experian Integration● Financial Account / ACH integration ● Salesforce Processes, Automation & Reports

How We Did It

Offers Wizard

DecisionLogicDecisionLogic - Bank Integration

● Flat growth and innovation due to inefficiencies with scattered data and processes.○ Deals tracked on spreadsheets, and disconnected systems

● Slow onboarding process for new hires and procedures.

● Limited view of customer contacts, history, and deals while on a call.

● Difficult to submit loan applications to lenders for approval.

● Lack of reporting options made it almost impossible for management to track deals, and get an accurate understanding of weekly cash flow

Situationwww.ImperialAdvance.com

● Difficult to track deals and provide exceptional customer service, leading to lost deals and unhappy customers

● Cost of acquisition of each closed deal was very high, as they were not able to target their marketing spend and they had low conversions.

● Deals being sent to the wrong lenders, taking too much time, and not getting approved.

● They used to have to go to the ACH portal every day to review all balance sheets. Would then need to go in and out of many different screens and apps to find all the details of each loan and deal.● Lack of weekly cash flow metrics restricted their ability to take on new deals

Problem

● Needed end-to-end platform to integrate all of their different systems.

● Needed better tracking and reporting on lead conversions and marketing campaigns.

● Need a way to submit deals to the right lenders, quickly.

● Needed a system that could give them actionable insights, allowing them to scale while reducing the cost of acquisition.

● As a small company they saw immediate improvements enabling a second office in Miami.

● They have attributed their ability to grow to the Salesforce platform and FUNDINGO solutions

● They now display Salesforce Dashboards and Gamification screens throughout their offices.

Needs/Payoff

Salesforce + Ecosystem● Sales Cloud● FUNDINGO Origination● Conga, Docusign, LaserCredit, Five9 Dialer,

Customizations● Submission Wizard● Lender APIs (OnDeck, etc)● Financial account / ACH integration ● Alerts, Automation & Reporting

How We Did It

DecisionLogicSubmission Wizard

Strictly Private & Confidential

Submission Wizard

✓ One Platform

✓ Workflow Automation

✓ Fees Automation

✓ Flags & Validations

✓ Syndication Automation

✓ Generate Statements

ACH Integration

● An investment firm was interested in backing them with $60m. However, the firm requested an audit of 6th Avenue’s business processes and systems, prior to completing the deal.

● They were not satisfied with the disconnected, and inefficient systems being used and wanted to ensure the money would be repaid.

● If 6th Avenue didn’t get a more reliable, integrated and comprehensive loan management system, the deal would not go through, and they would miss out of the $60 million.

Situation www.6thAvenueCapital.com

● Two outdated legacy systems were in place that weren’t fully integrated or automated, the company was forced to rely on manual data entry, which often failed to comprehensively capture important customer information in a timely manner.

● Their system was losing them money because it was unreliable

● Had to rely on an outside vendor for servicing.

● Reporting was time consuming, very difficult, and limited.

Problem

● They needed reliability in the system and much better deal tracking, particularly for syndications.

● Needed a future proof system to handle Origination to Servicing.● Integrations with ACH and other financial APIs● The FUNDINGO Solution impressed the investment firm and the Client received their $60

million in additional funding, leading to significant growth● Replaced legacy systems with Loan Servicing and Underwriting which optimized the entire

processing system. ● The robust Syndication app was a significant part of deal approval● FUNDINGO system automatically generates what is owed, and the deal terms. An essential

feature

Needs/Payoff

Salesforce + Ecosystem● Sales Cloud● FUNDINGO Origination, Underwriting, Loan Servicing & Syndication● Conga, Docusign

Customizations● Financial account integration with ACH● API Integrations● Integration with essential data services, Experian, LexisNexis, Decision Logic, DataMerch● ISO & Syndication Portal● Business Processes, Automation & Reporting

How We Did It

Syndication Syndication / Investor Management

3 Different - Small Companies in Alternative Lending ● Salesforce gave them all unique solutions for growth

3 Main Takeaways:● Salesforce can be used for not just big companies, but small ones as well● Salesforce is highly customizable and flexible● Less “Traditional” industries, like Alternative Lending, can still benefit from the

Salesforce platform

Conclusion

“The CloudMyBiz team provided exceptional service. With this system, we can now handle everything from ‘soup to nuts’, and handle it effectively and efficiently.”

Darren ShulmanPresident 6th Ave. Capital

Q & A