“I’ve found Domo to be amazing because it lets me run the business from my phone.”
Chief Executive Officer
Positive Group is a leading group of Australian finance companies with a core focus on utilizing technology to enhance the speed they offer financial services.
Integrations and Apps Used
Challenge: Ten major sources of data but no centralized platform to collect it on.
Solution: Streamlined visibility processes and mapped-out loan inquiry data.
Impact: Deep dives into their rich data ecosystem give constant, reliable, crucial business insights.
The business was generating data from more than 10 major sources, but had no centralized data platform to collect, analyze, and access this data. The ensuing lack of data transparency between headquarters in Adelaide and Positive’s branch in Manila made it difficult for leaders to obtain the information they needed to track and streamline interaction between their platform and those of their partnering lenders and financiers.
By connecting Domo with its data sources and those of its partners, The Positive Group obtained a broader picture of its business—something the business never had before. This didn’t just help its leaders and managers to monitor the health of the business; it also gave them the opportunity to perform deep dives—through Domo— into their rich ecosystem of customer, partner, and financial data. This constantly uncovers crucial insights that help align objectives, steer conversations, and improve vital business metrics—such as lead generation and loan submission times—across the board.
Better Targeting and Conversions
Through Domo, The Positive Group gained access to the insights it needed to streamline its processes and maximize the efficiencies of its staff. By questioning and mapping all its loan enquiry data, the business quantified the enquiries with the most conversion potential and hence, business value. This allowed the business to invest more time, attention, and resources into targeting the most promising leads, with staff in Manila spending 1.5 hours less on follow-up activities even as their conversion rates improve.
The visibility provided through Domo has streamlined processes on The Positive Group’s brokerage platform. The group needed to ensure its brokers and salespeople were crafting deals or submissions with care, taking into account various customer details and considerations like financial compliance. Through Domo, the business is successfully guiding its brokers towards more effective and well-formed deal structures in all product lines.
“We’ve been able to take the numbers from Domo and email that as feedback to our brokers so they can improve with our support,” said Caesar. “Using that same data, we’ve also been able to identify certain heuristics that indicate potential inefficiency in how brokers are working. Those heuristics then inform how we guide our entire family of brokers with broader training and development.”
Meaningful Team Management
Domo’s real-time performance data has also allowed The Positive Group to set better benchmarks and more achievable KPIs for staff. By basing their interactions off Domo’s reports and data cards, managers can hold more meaningful conversations with their reports, and provide clearer directions.
“On average, it takes our team less than 40 minutes to finalize loan submissions—that’s a benchmark everyone can see and track through Domo,” said Caesar. “We do a lot of one-on-one coaching to support and upskill our staff, and the data certainly does feed a lot into that. With Domo, we’ve been able to bridge physical distance with data: we can now see how well everyone’s doing, where they need assistance, and how they’re growing, with total clarity around performance and purpose.”
Results and Future Opportunities
From saving up to two hours per day per person for their support staff, to improving the overall efficiencies of their workforce, Domo has given The Positive Group the data insights they need to match the speed and demands of today’s financial markets.
The clarity provided by these data insights has encouraged the business to consider embedding Domo’s data cards and dashboards—using its many APIs—into their brokerage platform. The business is also planning to introduce Domo usage to its board of investors to better manage expectations between top management and on-ground staff.
Check out more stories of digital transformation.
Ready to get started? Try Domo now or watch a demo.