By Vasyl Solushchuk/INSART

Site: www.laserfiche.com
Founded: 1987
Clients: Registered investment advisors, broker-dealers
Value proposition: Enterprise content management, business process automation, workflow, records management, document imaging, and web form software
The executive team: Linda Ding, Director of Strategic Marketing Greg Eisenberg, Director of Engineering

Laserfiche

is a market leader in enterprise content management and process automation. Forty-five percent of the company is the product development organization. In product development alone they had about 14% year-over-year growth last year, with three main development centers in three different countries (US, Canada, China). Currently, Laserfiche is focused on

how to accelerate how business gets done by creating software that people love to use

.

I spoke with two enlightened executives, Linda Ding and Greg Eisenberg. They walked me through the company from a structural and business perspective, and showed me how Laserfiche is leveraging smart research and development with strategic business planning to reach the pinnacle of success.

Greg Eisenberg

is a veteran software developer and manager who holds a bachelor’s degree in computer science from McGill University. He started his career at Microsoft where he held several roles including Program Manager and Lead Software Engineer on various B2C, B2B, Server, Desktop, Web and Mobile products. Greg finished his time at Microsoft managing the team which created the email application on Windows Phone. Greg spent over 3-years as the Director of Software and Firmware for eSolar managing several teams which built a solar collector system comprised of thousands of powered mirrors, heliostats, which collected heat to create electricity or desalinize water. Greg has been with Laserfiche for over two years; he is currently working on improving software development and product-management processes and helps lead an organization of software teams across multiple time zones.

Linda Ding

received a dual bachelors in economics and cognitive science from the University of California, Berkeley. Prior to joining Laserfiche, she worked as a market researcher and as a consultant for organizational training and development. Over the past 12 years, Linda has worked her way up to director of strategic marketing at Laserfiche. In 2017, she was named a “Rising Fintech Star” by PR News and “Ten to Watch” by WealthManagement.com.

Laserfiche: The automated Swiss Army knife

In an executive advisory survey, Laserfiche clients were asked, “What is Laserfiche to you?” The responses ranged from Laserfiche being their “Swiss Army knife” to “the glue that holds their organization together.” Essentially, the platform is the operational backbone to many wealth-management firms.

“What makes Laserfiche different is our long-term perspective and vision. We’re building something strong and lasting. We have seen a lot of mergers and acquisitions of fintech firms in this space. I [have] lost count of how many of them [have] come and [gone] over the years, but Laserfiche, as you can see, is the steady variable in the space.”—Linda

Greg said that every client they have has some existing digital ecosystem they operate in. Laserfiche serves as the conduit to transcend all business operations, including compliance, onboarding, making sure all fiduciary responsibilities are met, HR problems, etc. Laserfiche streamlines workflows by automating processes like data validation, separation of data, transferring data to third-party systems, as well as archiving transactions.

“This type of automation helps in the financial services industry, because it helps people meet their compliance obligations, providing granular security on the data that we capture, as well as robust auditing.”—Greg

Integrations

Integrations are a major part of Laserfiche’s business model. Greg highlighted that they allow third parties to integrate with Laserfiche using their SDK, and their Professional Services teams or Solution Providers can build integrations for their customers and their existing ecosystems. These integrations can be custom built to suit the customers’ needs.

Greg said that they have two major initiatives in the integration space: robotic process automation (RPA) and no-code activity-based integrations. Robotic process automation is a model that doesn’t require a developer. Instead, it enables a knowledge worker who knows system A and system B to record their interactions and add those interactions to the automated workflow. No-code integrations are a way for someone with no coding skills to configure the integration between Laserfiche and a third-party system. The customer can then add that integration to their workflow.

“Laserfiche’s mission is to accelerate how business gets done by creating software people love to use. Financial institutions have a lot of expensive state-of-the-art technology in their ecosystem, but because of the demographic of the industry, training the folks, staff members, and also leaders [to use] the right technology for the right workflow has been a tremendous challenge. Our priority is to support our customers’ digital transformation with smart technology. RPA and no-code integration is at the core of this strategy.”—Linda

Eliminating paper: Improve efficiency and save the environment

The Laserfiche platform is a way for companies and firms to eliminate the need for paper documents. Linda outlined that through smart data-collection tools, Laserfiche workflows that take minutes instead of months to complete can be triggered. This type of improved efficiency could allow an advisory firm to scale faster and transform their business on a fundamental level.

“Even if your customer or third-party system requires paper, you don’t need to require paper at your office. Our upcoming improvements in machine learning are making document extraction, data extraction, and document classification significantly more accurate, and it’s enabling much more automation.”—Greg

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