Fintech Impact

Jason talks to Ryan George, CMO of Docupace. It is a platform for paperless tools basically designed to automate your back office or the financial advisors back office that, eliminate a lot of the heavy lifting and pain that we go through daily.

Episode Highlights:

• 03:07: Ryan is working with and working for people who are sometimes in the background of the business, whether it's connecting to the CRM and having a wireframe into that business or another level of deep integration.
• 05:56: As per Ryan, in the early 2000s, they sort of had the mainframe systems where everything was a locked technology ecosystem, and in terms of what it was able to do and what happened, that led to this explosion of innovation.
• 11:01: As per Ryan industry average is around between 25 to 27% of the NIGO rate for large enterprises, which sounds extremely high because it is on Docupace, it's below 3% for their clients.
• 12:00: As per Ryan, APIs are a big part of their integrations and a big part of their systems. 
• 18:26 Ryan discusses how the pandemic drove growth in digital data gathering.
• 24:37: Sometimes, your clients will lead you down the path to destruction. It's a matter of knowing where to draw the line and saying this is what's good for us.
• 28:01: As per Ryan, there is a need to pivot, and we need to change things in order to get to where we are trying to do what we are trying to move, move faster, be more agile, be more innovative, serve customers in a different way.
• 30:42: As per Ryan, they are not at the level of creativity to where people are coming up with creative solutions to solve because they don't know what the problem is yet.

3 Key Points:

1. Ryan shares a case study of someone he has dealt with who didn't have the interconnectivity, what kind of experience change they see within their company, and what type of productivity gains they get from this.
2. Docupace provides tracking in the dashboards where if paperwork gets submitted, somebody must call and say, hey, where's Joe and sell his application.
3. Ryan shares what are the new features of Docupace that they are going to implement in the coming years.

Tweetable Quotes:

• "We want to be a cohesive glue that helps connect your financial planning software, custodian, and systems together as you integrate throughout the technology stack that you have at your firm." – Ryan
• "Often, it's not the technology, it's the humans that become the inefficiency in the system, and we are trying to find that." - Ryan
• "Do you have the people in management or middle management with the vision for how this all comes together, which is a is and it's a very difficult thing to fill because it's a Venn diagram." - Jason
• "People who understand the digital realm as to what's possible and being able to tie that all together. Those are the single most valuable people in our enterprises these days." - Jason
• "There are so many uses for being able for one person to get data from another person, and that is never going to go away in this business." - Ryan

Resources Mentioned:

• Facebook – Jason Pereira's Facebook
• LinkedIn – Jason Pereira's LinkedIn
• LinkedIn - Ryan George