New Independent Nucleus Research Study Shows that Domo Provides ROI of More than 400 Percent for Ingo Money in Less Than One Year
Domo enables efficiency boosts across the financial services company by drastically increasing access to and understanding of its data
SILICON SLOPES, Utah – May 25, 2017 – Domo today announced that an independent study by Nucleus Research shows that Ingo Money, a financial services company, achieved an annual return on investment (ROI) of 424 percent in less than one year. With Domo, Ingo Money increased ROI and achieved significant company growth with only minimal rise in overhead expenses, greatly improving the bottom line.
Ingo Money is a push payments technology and risk management company based in Georgia. It provides solutions for businesses and people to pay and get paid, helping them convert cash, checks and ACH into instant digital payments. The company was capturing all of its data in Excel, a system which was not able to scale at the pace of its data and business needs.
“We sought a solution to help us better understand what was happening across our business, and Domo quickly proved to be the easiest to implement and understand,” said Steven Doctor, CFO at Ingo Money. “Within four months, we were able to deploy Domo across the company and teach a handful of our analysts how to be Domo experts and spread the technology throughout departments.”
Cloud-based Domo has enabled Ingo Money to steadily automate reports, which were previously compiled manually, and drastically increase access to, and understanding of its data across the organization. These new insights have resulted in:
- Increased productivity: Risk underwriters have been able to complete tasks faster and with fewer errors; employees in Ingo Money’s client services department have demonstrated greater efficiency despite a rapidly-growing customer base; and reporting analysts also known as “Domo experts” have freed up and redirected 50 percent of their time to support other departments.
- Ad spend efficiency: Ingo Money linked its ad channel data to Domo’s analytics tool, enabling it to better understand how its ad spend was translating into customers.
- Mitigated costs: Domo provided Ingo Money with all-encompassing analytics which helped the risk team recognize signs of fraud more easily, leading to a significant reduction in costs from fraudulent checks.
“Considering our dramatic growth, Domo is saving us more than $800,000 annually compared to the kind of support levels we needed before Domo,” Doctor continued. “Being able to visualize our data has led to better decision making with fewer resources, which is proving critical as we expand into the market of consumer facing payments.”
To view the full case study and see how Domo can help your business improve efficiency and ROI, visit https://www.domo.com/learn/nucleus-research-ingo-money-roi-case-study.
About Domo
Domo helps all employees – from the CEO to the front-line worker – optimize business performance by connecting them to the right data and people they need to improve business results. Domo’s Business Cloud is the world’s first customizable platform that enables decision makers to identify and act on strategic opportunities in real time. The company works with the world’s leading and most progressive brands across multiple industries including retail, media and entertainment, manufacturing, finance and more. For more information, visit www.domo.com. You can also follow Domo on Twitter, Facebook, LinkedIn, Google+, Instagram and Pinterest.
###
Domo, Domo Business Cloud and The Business Cloud are trademarks of Domo, Inc.