December 26, 2023 • 27 mins
Are you tired of the same old manual and time-consuming client onboarding processes? Looking for a way to make this crucial step smoother and more efficient? Say hello to Rachel Lyubovitzky, the CEO of Setuply, whose here to share her insights on automating the grueling client onboarding experience. With Rachel's expertise, you'll discover the key to transforming onboarding into a hassle-free journey for both solution providers and clients.
Rachel opens the conversation by introducing Setuply, a client onboarding automation platform designed to make the onboarding process a breeze. Whether you're onboarding to new software or transitioning to a new company, Setuply has you covered. Rachel's goal is to revolutionize the client onboarding segment, replacing outdated methods like spreadsheets with an automated system that ensures a smooth and pleasant onboarding experience.
Rachel's insights and expertise in onboarding automation will revolutionize your approach to client onboarding, giving you the tools to optimize your processes and enhance customer satisfaction.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
William Tincup (00:25):
This is William Tincup, and you're listening to
the Use Case Podcast.
Today, we have Rachel Ong fromSetuply, and we'll be learning
about the business case, the usecase for her company.
Rachel, would you do us a favorand introduce both yourself and,
uh, tell us what
Rachel Lyubovitzky (00:41):
Setuply does?
Sure.
My name is Rachel Lyubovitsky.
I'm the CEO of Setuply.
Setuply is a client onboardingautomation platform that helps
to make onboarding morepleasant, both for solution
providers and for clients whoare getting onboarded.
So,
William Tincup (01:01):
onboarding in this sense is onboarding to
software or onboarding to acompany?
Rachel Lyubovitzky (01:08):
Onboarding, well, I can look at it, I guess,
from both standpoints onpredominantly onto software.
If, uh, hypothetically a companydecided to up level their HCM
offering.
So it's, uh, getting up andrunning on the new, um, HCM, uh,
provider software.
(01:28):
I
William Tincup (01:28):
love this because it drives adoption.
So let's just, uh, let's justdig into how did you come up
with this idea?
How did this come about?
Rachel Lyubovitzky (01:37):
Well, my, my partners and I are serial
entrepreneurs, so when we'relooking about, uh, for the next
great thing to build, we kind oflooked around and said, uh,
okay, let's see what hasn't beensolved in the B2B space, because
that's where we love to be.
A lot of really fun, funprojects.
And one area that stood out tous is client onboarding.
(01:59):
Uh, we probably asked aroundmaybe 200, 300 different
solution providers and learned.
That 90 percent of them are, um,using spreadsheets, one notes or
various other, uh, manual, uh,semi manual means to get the job
done.
Uh, so if you really think aboutit, uh, there are tools for
(02:22):
sales, uh, folks out there likeSalesforce.
There are tools for marketingfolks like HubSpot and there is
really, really next to nothingfor the client onboarding reps.
William Tincup (02:35):
So, and who do you work with?
Who's, what's the type ofcompanies that are
Rachel Lyubovitzky (02:39):
partners?
Types of companies that I feelwe can make the most impact for
are, um, companies that havelong and painful and data driven
client onboarding process.
So that would be companies inthe human capital management
space, as I mentioned.
Um, if you're migrating somebodyto a new HCM solution, there's
(03:00):
historical data to be migrated,their employee data, their
positions, uh, prior payrollsand whatnot.
So long and painful onboarding.
So that's human capitalmanagement.
Um, It's enterprise resourceplanning, so ERP, if somebody is
migrating from one ERP toanother, from kind of an in
house system to a proper modernsoftware solution, that's ERP,
(03:23):
FinTech, Banking Back Office,InsureTech, and basically other
B2B markets where onboarding isanything that takes maybe more
than a couple of months andthere might be a heavy amount of
data involved.
William Tincup (03:36):
And, and, uh, are you always in, involved in
kind of a switch?
If, let's, let's say in, in theHCM space, uh, if they're moving
from a kind of a core payroll,like a DP and they're moving to
something else like Ceridian orYeah.
To a DP or you working inbetween a switch, or can you
work with somebody that's brandnew?
Rachel Lyubovitzky (03:59):
So our licensees, companies, uh, our
clients are, uh, human capitalmanagement, uh, solution
providers.
So that could be ADP, that couldbe Ceridian, um, and sometimes
it could be companies that workwith these types of entities to
help onboard their customers.
So outsourced onboarding shopsthat, um, help onboard customers
(04:20):
for the, uh, technologycompanies in that sector.
So those are our customers andthey use.
Our software to help, uh, makeonboarding easier for their
clients.
That's what I thought.
William Tincup (04:32):
That's what I thought.
And who pays?
Do they pay the, does the, uh,at the, at that point, like
there's an ADP or Ceridian, dothey pay or does the end client
pay?
Rachel Lyubovitzky (04:42):
Um, so the, uh, the, uh, Customer, who is
using the software to get thejob done, so ADP, Ceridian, they
pay.
And it is free for clients, thisis simply a sort of a stop to
help facilitate the transitionfrom the sales organization to
(05:02):
ultimately the system of theirchoosing.
This is where they can talk,work on the knowledge transfer,
learn the software, transfer theinformation, answer questions,
so this is a transitional phase.
Before they're able to startenjoying their new product.
William Tincup (05:19):
I love it.
So, um, is there any instanceswhere you would be direct with a
client or do you feel likeyou're always, you always go
through a client partner?
Rachel Lyubovitzky (05:30):
So direct, I guess, in our, uh, in our world
would be the technology, thesolution provider.
Um, and then we might getinvolved, uh, with their
customer, right?
Only if, uh, there is a case tobe made that our solution
addresses their needs as well.
So, got it.
Those customers could be in onefantastic case, uh, is medical
(05:53):
software, right?
So to get medical software intoa hospital could take up to a
few years.
So this is another area where wecould be helpful.
William Tincup (06:02):
Right.
I see.
So, so I mean, I totally under,uh, I like it.
And again, I think it drivesadoption too, which is great,
especially when you're bringingin new software, getting people
to understand kind of, okay,what, what did you just buy the
value of what you just bought?
And in your case, you're takingthat Uh, in a lot of cases that
historical data and helping thembring that historical, wherever
(06:26):
that historical data might'vebeen from and bring into a kind
of modern software.
So I love that.
What are, uh, what are some ofthe, what are the, some of the
things that people can, uh, whenthey think of it?
Because they might not have,like, when you looked around at
the market, you said, hey,there's not a lot that's going
on in the client onboardingspace, have, have, uh, have you
(06:49):
had a great reception so farwith the people that are your
clients, uh, the systemintegrators or even the, uh, the
software providers themselves?
Have you had a great receptionwith them, the ADPs and sardines
of the world?
Rachel Lyubovitzky (07:04):
Absolutely.
This is something that, uh, is,is, is a subject for much
frustration, specifically if youkind of look at the HCM area at
this time of the year.
Uh, you know, this is the peaktime where everybody's running
around trying to get their mon,mon, months implemented.
I mean, the companies that aregetting up and running, uh, and
are expecting to do their firstpayrolls at the beginning of the
(07:26):
year, it's very busy time forthem.
Uh, and so they're veryreceptive with the idea.
to make this a more predictable,scalable process, uh, with less
of their time spent, uh, kind ofreminding their customers, Hey,
I need you to send me yourroster.
Hey, can you please send me alist of your positions?
(07:46):
Hey, can you send me youraccrual rules and things like
that?
The system will take care ofstaying on top of those
customers to help get that datasafely retrieved and positioned
and stored in one place.
And so these solution providers,the onboarding reps, can move on
and focus on other things likehelping their customers with
(08:07):
change management, helping theircustomers with training on the
new product.
Although nitty gritty, thedetails are taken care of by the
system.
William Tincup (08:16):
Yeah, I love that because it lets, it lets
them kind of focus on, you know,at one point, I'm sure the
audience is thinking tothemselves, well, why doesn't,
why don't some of these largerHCM players want to just build
this themselves?
It's like, well, you know,maybe, but the thing is, is
there's a lot of the minutiaethat can be easily outsourced.
And that's some of the, some ofthe things you're talking about.
(08:37):
It's like, yeah, we take overthat layer.
Let us just do that and do thatwell so that you can focus on
other things.
Rachel Lyubovitzky (08:44):
That makes total sense.
This is a little bit of a shoe,uh, shoemakers paradox, right?
Right, right.
Uh, so a lot of these HCMproviders and other B2B tech
providers, their firstimperative is to really deliver
the best of the breed productfor their customers.
The best of breed, of breed ERP,best of breed HCM.
(09:05):
So you really, when you'redeciding where to allocate your
resources, you really want todirect them, most of them
towards, you know, your primarybusiness.
And so not a lot is left towardskind of ancillary activities,
which is the reason why theseproviders don't build their own
sales CRM, their own marketingengine, and unfortunately use
(09:27):
kind of an outdated means to getthe onboarding done.
They simply You know, prioritizetheir core product, which
totally makes sense.
William Tincup (09:37):
Yeah.
And I mean, when you think aboutit like that, they should be
doing, they should be buildingout more of their roadmap and
not doing this because you'rebuilding out something that's
far more sophisticated and willbe continued to be more
sophisticated.
We didn't talk about kind ofthe, the big three with SAP
Oracle and Workday.
Do we, uh, do we currently dowork with, with them or is that
(10:01):
on the roadmap?
Rachel Lyubovitzky (10:03):
Um, we are able to exchange, um, data with
just about any HCM provider.
Right.
So, so this is very, veryhelpful when you want to avoid
kind of manual data entry, yetanother thing of the past.
Oh, yeah.
Uh, so being able to exchangedata easily, uh, validate, make
(10:25):
sure that it is transformed tothe correct format, that it is
safely protected in transit.
So definitely.
William Tincup (10:34):
So you don't have to be an official partner
of anybody per se.
I mean, I'm sure you are in somecases, but you don't have to be.
Uh, you can get data.
Uh, again, if it's, it's, ifit's coming out of a system or
going into a system, you can dothat without being kind of in a
quote, unquote, officialpartner, having a partnership
(10:55):
with anybody, UKG, uh, any,anybody, anybody that we've
talked about, you don't have tobe an official partner.
Rachel Lyubovitzky (11:03):
Well, as long as there is a formal,
everybody obviously has toprotect their data, their
customers data.
So when there are.
Published APIs and formalprocess to gain access to
specific data on client'sbehalf.
So you have to follow throughall these formal, through all
these processes.
Although when there is apartnership in place, we're able
(11:26):
to kind of experiment and dosome interesting things, uh, to
together to maybe bring in athird party provider and enrich
the data that is going into thethird party or, or that HCM
partner.
So you, you could, you could.
What in a, in a closerrelationship, you, you can
accomplish more, uh, was takinga little bit of a deeper
(11:46):
approach in how you exchangeinformation between the two
entities on behalf of a sharedclient.
William Tincup (11:52):
Tell me more about that.
Uh, data enrichment, becauseI've had the experience that,
uh, a lot of, um, a lot of HR.
And a lot of TA, they don'ttrust the data that they have.
They send out a lot of data,have a lot of data, always have,
but they don't trust the data.
Uh, maybe it's cause it's nottrustworthy.
(12:14):
Uh, maybe it's, maybe it'sbecause some of it is, they
just, uh, have the perceptionthat their, their data isn't,
uh, as great as it should be.
So when you said enrichment, itjust kind of triggered something
for me.
Tell me in the, in the caseswhere you can do that, what does
that look like for, uh, for a
Rachel Lyubovitzky (12:31):
client?
Well, uh, outside of HR data,which is a whole other special
case, I'll give you one goodtangible example.
Uh, you know, client onboardingis a significant portion of a
solution provider's P& L.
And when you ask a question,well, you know, you guys charge
(12:51):
set of fees.
Yes, we do.
How much?
Do those set up fees cover thecost of your onboarding?
Very few companies can answerthat question.
And yet, in larger sense, whenyou're doing financial reporting
and you want to be verygranular, it's kind of useful
information to know.
So, by Being able to granulateas you're onboarding customers,
(13:15):
how long does the task take?
How long does the task costbased on who is working on it?
Do you have a domain expert oryou have a regular onboarding
rep?
Do you have a tax benefitadvisor or somebody?
So being able to granulate onthe task level and then raise it
up on the project level thatyou're working on a client.
You can get to the point whereyou're able to say that, How
(13:37):
take to onboard this customer?
This is precisely.
how much it cost me.
So you can then Have moreaccurate read on the general
contract value of this newrelationship, and you can drive
better decisions as to, hey,these, these guys, this
particular vertical, let's justsay, uh, no kidding about, uh,
(13:57):
municipalities, but let's justsay municipalities are a
fantastic, fantastic client withthe lowest onboarding cost
possible.
Hey, that gives you a good readto the, to the sales and
marketing organization.
That, hey, these guys areprobably easy and inexpensive to
onboard.
Let's bring in more of them,right?
Let's focus on that vertical.
And then, so that's from thesales, uh, directive that you're
(14:19):
able to get from kind of aricher, deeper insight into your
onboarding costs and thenpassing it on to finance folks
who love, love, love theirnumbers, you can get beyond.
Okay, just basic figures.
Hey, we have 20, 30, 50, 100employees doing onboardings.
This is their salaries.
This is what we collected.
It's a very brute force andvery, very, very generalized
(14:42):
approach to figuring out howmuch onboarding costs.
And so being able to granulateon the project, on the products,
on the clients, on the verticalsgives obviously finance folks
wonderful peace of mind thatthis is where they are.
Perhaps a directive that, hey,maybe we should increase our
setup costs.
(15:03):
Maybe there are areas that wehave to focus on.
Uh, maybe there's someefficiencies of scale in
improving our onboarding processso that it's a little bit
faster.
It's very useful, uh, datapoints for finance folks and,
uh, your operating staff ingeneral.
So that's on, you know, gettinga little bit richer, deeper into
the
William Tincup (15:22):
data.
Well, and it gives them, uh,knowing that, uh, safety, the
security of mindset of what's,what's going on, but also helps
improve up the business case, sothe ROI for the software that
they're buying.
Uh, the faster, the faster thosefolks get set up and comfortable
with software, the fastereveryone kind of gets to the
(15:43):
value of software.
Rachel Lyubovitzky (15:45):
Absolutely.
Yeah.
If you get into that area,exactly.
Uh, customers make their buyingdecision for a reason they're
looking for.
better, better employeeexperience.
They're, they're looking formore, more compliant solutions,
richer feature set.
And so they can't usually, when,when, when they're, when they're
closing that deal, when they'reabout to start with the new HCM
(16:09):
provider, they can't wait to getstarted.
You know, you've got a littlebit of this instant
gratification feel like, hey, Iwant it right now.
And so by providing the meansnecessary.
To help drive that value fasterby again using the proper tools
for client onboarding, you'reable to satisfy that need.
(16:29):
Uh, and, and make customershappier, faster, happier.
Yeah.
William Tincup (16:34):
So tell me about like system integrators and
consulting firms.
Uh, I was at Syrian Insights inOctober and on one day I got the
podcast with a bunch of, uh, of,of a lot of their partners,
which happened to be, uh, systemintegrators and consulting firms
and, uh, a lot of fascinatingwork that they're doing.
Um, do you get, Do you get tokind of interact with the EYs
(16:57):
and Deloittes and, you know, uh,all of those folks?
Do you get to interact with themat all, uh, yet?
Rachel Lyubovitzky (17:05):
We are actually working, Deloitte
actually, we, hey folks, we had,we had a conversation, uh,
actually last week, but on.
The, uh, subject of, um,consulting organizations and
implementation organizationsthat provide the, are the
service providers for thatspace.
Absolutely.
(17:25):
These guys have a little bitdifferent business model as
opposed to technology providerslike the aforementioned, the
Workdays, the ADPs, Ceridians.
Their monetization window isusually only during the time
that the service is provided,right, when they're onboarded.
So they have a much biggerincentive to figure out what is
(17:47):
the best thing they can do interms of the process, product,
technology, to, uh, have thebest, realize the best margins
to have the most efficientprocess during that time.
Because a minute of delay,project getting out of scope,
out of timeline, out of budget,the impact for them, they may
never become profitable on thatparticular implementation,
(18:09):
because they never get therecurring revenue.
William Tincup (18:12):
Do you think that there's a model for them
going forward of data as aservice?
Rachel Lyubovitzky (18:22):
Probably.
I mean, conceptually, when Inthe consulting world, the
companies that are advisingtechnology providers on
improving their overallefficiencies, improving their
margins, improving capacity oftheir teams.
That's another topic we didn'ttalk about, how difficult it is.
(18:45):
Especially in the complex B2Bmarkets to hire, train, and
retain, uh, skill, you know,skillful knowledge workers, uh,
these consulting organizationsthat are helping technology
providers with their visions andtheir roadmaps, this is
something that is super helpfulto have you actual quantifiable
(19:06):
data points that, hey, if you'reable to migrate to an automated
solution, that could improveyour team's capacity by 25%.
That could reduce youronboarding time span by 30%.
And at, you know, the higher upyou go in terms of the volume
that these technology providershave to handle, the bigger the
(19:26):
impact.
William Tincup (19:27):
Yeah, I can see, you know, uh, I mean, I hope,
I'm sure they can see this too.
It's, it's on the, on the frontend, it's setting up the data
and making sure the setup, uh,goes extremely well for all
parties involved.
Got it.
But then there's kind of notjust the maintenance of said
data, it's the making sense ofdata that I think, uh, again,
(19:49):
someone needs to do that.
Well, maybe, maybe that's the,maybe that's Ceridian's job.
And we'll just use Ceridian asa, as a, as an example in this
case, maybe that's Ceridian'sjob is to make sense of the
data, or maybe that's Deloitte'sjob is to make sense of the
data, but someone's going toneed to make sense of the data
for the end user, uh, becausethey're not.
(20:12):
You know, even, even with themost intuitive software, they're
still going to need someone tohelp them at least for the next
couple of years to make sense ofwhat data they have, what they
don't have, what the data issaying, you know, trending,
forecasting, all of that stuff.
Some, somebody's going to haveto make sense of it.
Don't, don't you think?
Or am I reading, reading toomuch into this?
Rachel Lyubovitzky (20:33):
Oh no, I totally am on the same page with
you.
In order to start reallyoptimizing the process,
understanding where yourbottlenecks are, you need to
measure what's happening.
So your backlog, how long isyour backlog?
Backlog is the time between,hey, you closed the deal.
But guess what?
You're gonna have to wait fornine months before I have reps
(20:54):
available to onboard you.
So that time is the backlog.
And during that time, the clientis free to leave, you know, if
they, if somebody makes a morecompelling offering.
Um, so starting to track Thebaselines, at the very least, if
you don't do anything else, uh,technologically or process wise,
establish your baselines.
(21:15):
The backlog, the project timespan, how many onboard, how many
clients can a single onboardingrep handle.
Once you have that in place,Then you can start working with
it and figuring out, okay, whyis the backlog so long?
Well, because maybe I don't haveenough team members staffed.
Well, what do I do about it?
How do I find new ones?
How do I incentivize the onesthat are working?
(21:37):
Um, to, how can I make a, helpcreate a more satisfying work
environment for them?
William Tincup (21:43):
Yeah, you bring up a really fascinating point.
Um, we've all been through kindof, uh, implementations that
take, I used to say Years agowhen I would, you know, do
speeches and, and, uh, aroundimplementations and around user
adoption in particular, I'd say,I'd do this bit, I'd say,
listen, I can, I can make everysingle one of you in the
(22:03):
audience fall down on the groundand start sucking on your thumb.
And all I have to do is sayingone word and you know, people
are, you know, it's always, it'sa bit, right?
So I'd say implementation,because at that time.
Everybody had been through justan implementation and it went
sideways.
Everyone.
And if you lived in HR or talentacquisition, if you lived there,
(22:27):
you've been through animplementation and it's been
taught sideways.
But I've seen kind of, uh, inmore recent years, firms moving
to a model where they don't tryto implement the full solution.
It's more of a, um, let's getyou into kind of the, it's
almost like a, uh, icebergapproach.
(22:48):
Let's get you into a piece ofthe, of the, of the solution
that's above the waterline, butlet's do that quicker.
So instead of doing, let's saywe'll do a workday just for fun
for this one, uh, instead ofdoing, um, a nine month
implementation where you, wetake you on and we implement all
of the pieces that you, you'vebought for workday.
Let's get you into just core HR.
(23:10):
And do that.
We could do that in 30 days.
And so it's, it's a piece andthey stand that up faster and
then they move around to theother pieces.
I'm sure you've, you've seenthis.
What do you, what do you thinkof that model?
Uh, and it like the standing upsomeone faster in one part of
the solution and then kind ofmoving your way around to the
(23:30):
everything else that theybought.
Rachel Lyubovitzky (23:33):
I love it.
I think it, it plays to our.
Basic human nature, the changemanagement that, to, to, when
the change is made more gradual,gradual, gradually, you are able
to, you know, engage with it alittle more, understand how it
fits into your lifestyle, intoyour work day, uh, and, um, get
(23:57):
into it.
with a lot more deliberationthan something that's kind of
like avalanche lands on you.
I'll give you the winter examplesince we're headed into the
season.
You know, why, why doeseverybody do body slope?
Right.
Yeah.
You start simple.
You get comfortable.
You understand what you'redoing.
You know where, where, where,where your equipment is and then
(24:20):
you can go for the higherslopes.
William Tincup (24:22):
Right.
Right.
I'm still on the greens, butyes, I understand the metaphor
well enough to understand.
I mean, if I ever get aboveanything above a green.
I'm in a snow plow the entiretime, all the way down.
I, I, I made, accidentally, Iwas in Taos, and, uh, I got off,
what is it, Blue Diamonds?
I got off at the very, very top,and I was just not paying
(24:45):
attention, and I went all theway to the top.
And so I get to the top, andthen, you know, you know the
bit, right?
So I'm looking down, and I'mlike, uh, yeah, I'm gonna die
here.
This is where I die.
So I just got on the snow plowand people are whizzing by me,
you know, yelling at me,whatever.
And I'm just going really superslow.
It took me six hours to get, toget down the hill.
Rachel Lyubovitzky (25:07):
See, that's, yeah, that's, that's exactly,
hey, that exactly relates towhat we were talking about.
You get all the way to the topand you look like there's no way
in hell I'm making that journey,right?
That,
William Tincup (25:16):
that, that we just explained some of the more
intense.
Transitions, again, for SAP orOracle or for Workday, it is an
intense, we don't even thinkabout it.
When we, when we talk about, wedon't even think about how
intense this is for the end userand what, what it's changing in
their lives.
Uh, and so I, you know, I loveit.
(25:37):
Um, last thing is I saw you atHR Tech and we didn't get to
spend a whole lot of time withyou because I was worn out, uh,
from doing a lot of podcasting,but what were your, what was
your goals at HR Tech?
What were you trying to dothere?
Rachel Lyubovitzky (25:50):
Well, as always, it's fascinating to see
how the HCM space continues toevolve, so fascinating to see
all the AI and incredible newinnovations that are coming up
to make the workforce managementworkforce environment a better
place.
And with that, obviously for us,uh, where we see it's an
(26:14):
opportunity to potentiallyaccelerate realization of all
these awesome new innovations inthe HCM space by helping the
providers, uh, deliver thosefaster.
So we see that as an opportunityto see what's the best out
there, what's the latest and thegreatest, and how can we help to
get that into customers handsfaster.
(26:35):
Jobs
William Tincup (26:35):
Mike walks off stage.
Rachel, thank you so much foryour time.
Thanks for coming on the show.
My
Rachel Lyubovitzky (26:40):
pleasure.
Thanks, Will.
William Tincup (26:43):
Absolutely.
And thanks for everyonelistening.
Until next time.
This is William Tincup, and you're listening to
the Use Case Podcast.
Today, we have Rachel Ong fromSetuply, and we'll be learning
about the business case, the usecase for her company.
Rachel, would you do us a favorand introduce both yourself and,
uh, tell us what
Rachel Lyubovitzky (00:41):
Setuply does?
Sure.
My name is Rachel Lyubovitsky.
I'm the CEO of Setuply.
Setuply is a client onboardingautomation platform that helps
to make onboarding morepleasant, both for solution
providers and for clients whoare getting onboarded.
So,
William Tincup (01:01):
onboarding in this sense is onboarding to
software or onboarding to acompany?
Rachel Lyubovitzky (01:08):
Onboarding, well, I can look at it, I guess,
from both standpoints onpredominantly onto software.
If, uh, hypothetically a companydecided to up level their HCM
offering.
So it's, uh, getting up andrunning on the new, um, HCM, uh,
provider software.
(01:28):
I
William Tincup (01:28):
love this because it drives adoption.
So let's just, uh, let's justdig into how did you come up
with this idea?
How did this come about?
Rachel Lyubovitzky (01:37):
Well, my, my partners and I are serial
entrepreneurs, so when we'relooking about, uh, for the next
great thing to build, we kind oflooked around and said, uh,
okay, let's see what hasn't beensolved in the B2B space, because
that's where we love to be.
A lot of really fun, funprojects.
And one area that stood out tous is client onboarding.
(01:59):
Uh, we probably asked aroundmaybe 200, 300 different
solution providers and learned.
That 90 percent of them are, um,using spreadsheets, one notes or
various other, uh, manual, uh,semi manual means to get the job
done.
Uh, so if you really think aboutit, uh, there are tools for
(02:22):
sales, uh, folks out there likeSalesforce.
There are tools for marketingfolks like HubSpot and there is
really, really next to nothingfor the client onboarding reps.
William Tincup (02:35):
So, and who do you work with?
Who's, what's the type ofcompanies that are
Rachel Lyubovitzky (02:39):
partners?
Types of companies that I feelwe can make the most impact for
are, um, companies that havelong and painful and data driven
client onboarding process.
So that would be companies inthe human capital management
space, as I mentioned.
Um, if you're migrating somebodyto a new HCM solution, there's
(03:00):
historical data to be migrated,their employee data, their
positions, uh, prior payrollsand whatnot.
So long and painful onboarding.
So that's human capitalmanagement.
Um, It's enterprise resourceplanning, so ERP, if somebody is
migrating from one ERP toanother, from kind of an in
house system to a proper modernsoftware solution, that's ERP,
(03:23):
FinTech, Banking Back Office,InsureTech, and basically other
B2B markets where onboarding isanything that takes maybe more
than a couple of months andthere might be a heavy amount of
data involved.
William Tincup (03:36):
And, and, uh, are you always in, involved in
kind of a switch?
If, let's, let's say in, in theHCM space, uh, if they're moving
from a kind of a core payroll,like a DP and they're moving to
something else like Ceridian orYeah.
To a DP or you working inbetween a switch, or can you
work with somebody that's brandnew?
Rachel Lyubovitzky (03:59):
So our licensees, companies, uh, our
clients are, uh, human capitalmanagement, uh, solution
providers.
So that could be ADP, that couldbe Ceridian, um, and sometimes
it could be companies that workwith these types of entities to
help onboard their customers.
So outsourced onboarding shopsthat, um, help onboard customers
(04:20):
for the, uh, technologycompanies in that sector.
So those are our customers andthey use.
Our software to help, uh, makeonboarding easier for their
clients.
That's what I thought.
William Tincup (04:32):
That's what I thought.
And who pays?
Do they pay the, does the, uh,at the, at that point, like
there's an ADP or Ceridian, dothey pay or does the end client
pay?
Rachel Lyubovitzky (04:42):
Um, so the, uh, the, uh, Customer, who is
using the software to get thejob done, so ADP, Ceridian, they
pay.
And it is free for clients, thisis simply a sort of a stop to
help facilitate the transitionfrom the sales organization to
(05:02):
ultimately the system of theirchoosing.
This is where they can talk,work on the knowledge transfer,
learn the software, transfer theinformation, answer questions,
so this is a transitional phase.
Before they're able to startenjoying their new product.
William Tincup (05:19):
I love it.
So, um, is there any instanceswhere you would be direct with a
client or do you feel likeyou're always, you always go
through a client partner?
Rachel Lyubovitzky (05:30):
So direct, I guess, in our, uh, in our world
would be the technology, thesolution provider.
Um, and then we might getinvolved, uh, with their
customer, right?
Only if, uh, there is a case tobe made that our solution
addresses their needs as well.
So, got it.
Those customers could be in onefantastic case, uh, is medical
(05:53):
software, right?
So to get medical software intoa hospital could take up to a
few years.
So this is another area where wecould be helpful.
William Tincup (06:02):
Right.
I see.
So, so I mean, I totally under,uh, I like it.
And again, I think it drivesadoption too, which is great,
especially when you're bringingin new software, getting people
to understand kind of, okay,what, what did you just buy the
value of what you just bought?
And in your case, you're takingthat Uh, in a lot of cases that
historical data and helping thembring that historical, wherever
(06:26):
that historical data might'vebeen from and bring into a kind
of modern software.
So I love that.
What are, uh, what are some ofthe, what are the, some of the
things that people can, uh, whenthey think of it?
Because they might not have,like, when you looked around at
the market, you said, hey,there's not a lot that's going
on in the client onboardingspace, have, have, uh, have you
(06:49):
had a great reception so farwith the people that are your
clients, uh, the systemintegrators or even the, uh, the
software providers themselves?
Have you had a great receptionwith them, the ADPs and sardines
of the world?
Rachel Lyubovitzky (07:04):
Absolutely.
This is something that, uh, is,is, is a subject for much
frustration, specifically if youkind of look at the HCM area at
this time of the year.
Uh, you know, this is the peaktime where everybody's running
around trying to get their mon,mon, months implemented.
I mean, the companies that aregetting up and running, uh, and
are expecting to do their firstpayrolls at the beginning of the
(07:26):
year, it's very busy time forthem.
Uh, and so they're veryreceptive with the idea.
to make this a more predictable,scalable process, uh, with less
of their time spent, uh, kind ofreminding their customers, Hey,
I need you to send me yourroster.
Hey, can you please send me alist of your positions?
(07:46):
Hey, can you send me youraccrual rules and things like
that?
The system will take care ofstaying on top of those
customers to help get that datasafely retrieved and positioned
and stored in one place.
And so these solution providers,the onboarding reps, can move on
and focus on other things likehelping their customers with
(08:07):
change management, helping theircustomers with training on the
new product.
Although nitty gritty, thedetails are taken care of by the
system.
William Tincup (08:16):
Yeah, I love that because it lets, it lets
them kind of focus on, you know,at one point, I'm sure the
audience is thinking tothemselves, well, why doesn't,
why don't some of these largerHCM players want to just build
this themselves?
It's like, well, you know,maybe, but the thing is, is
there's a lot of the minutiaethat can be easily outsourced.
And that's some of the, some ofthe things you're talking about.
(08:37):
It's like, yeah, we take overthat layer.
Let us just do that and do thatwell so that you can focus on
other things.
Rachel Lyubovitzky (08:44):
That makes total sense.
This is a little bit of a shoe,uh, shoemakers paradox, right?
Right, right.
Uh, so a lot of these HCMproviders and other B2B tech
providers, their firstimperative is to really deliver
the best of the breed productfor their customers.
The best of breed, of breed ERP,best of breed HCM.
(09:05):
So you really, when you'redeciding where to allocate your
resources, you really want todirect them, most of them
towards, you know, your primarybusiness.
And so not a lot is left towardskind of ancillary activities,
which is the reason why theseproviders don't build their own
sales CRM, their own marketingengine, and unfortunately use
(09:27):
kind of an outdated means to getthe onboarding done.
They simply You know, prioritizetheir core product, which
totally makes sense.
William Tincup (09:37):
Yeah.
And I mean, when you think aboutit like that, they should be
doing, they should be buildingout more of their roadmap and
not doing this because you'rebuilding out something that's
far more sophisticated and willbe continued to be more
sophisticated.
We didn't talk about kind ofthe, the big three with SAP
Oracle and Workday.
Do we, uh, do we currently dowork with, with them or is that
(10:01):
on the roadmap?
Rachel Lyubovitzky (10:03):
Um, we are able to exchange, um, data with
just about any HCM provider.
Right.
So, so this is very, veryhelpful when you want to avoid
kind of manual data entry, yetanother thing of the past.
Oh, yeah.
Uh, so being able to exchangedata easily, uh, validate, make
(10:25):
sure that it is transformed tothe correct format, that it is
safely protected in transit.
So definitely.
William Tincup (10:34):
So you don't have to be an official partner
of anybody per se.
I mean, I'm sure you are in somecases, but you don't have to be.
Uh, you can get data.
Uh, again, if it's, it's, ifit's coming out of a system or
going into a system, you can dothat without being kind of in a
quote, unquote, officialpartner, having a partnership
(10:55):
with anybody, UKG, uh, any,anybody, anybody that we've
talked about, you don't have tobe an official partner.
Rachel Lyubovitzky (11:03):
Well, as long as there is a formal,
everybody obviously has toprotect their data, their
customers data.
So when there are.
Published APIs and formalprocess to gain access to
specific data on client'sbehalf.
So you have to follow throughall these formal, through all
these processes.
Although when there is apartnership in place, we're able
(11:26):
to kind of experiment and dosome interesting things, uh, to
together to maybe bring in athird party provider and enrich
the data that is going into thethird party or, or that HCM
partner.
So you, you could, you could.
What in a, in a closerrelationship, you, you can
accomplish more, uh, was takinga little bit of a deeper
(11:46):
approach in how you exchangeinformation between the two
entities on behalf of a sharedclient.
William Tincup (11:52):
Tell me more about that.
Uh, data enrichment, becauseI've had the experience that,
uh, a lot of, um, a lot of HR.
And a lot of TA, they don'ttrust the data that they have.
They send out a lot of data,have a lot of data, always have,
but they don't trust the data.
Uh, maybe it's cause it's nottrustworthy.
(12:14):
Uh, maybe it's, maybe it'sbecause some of it is, they
just, uh, have the perceptionthat their, their data isn't,
uh, as great as it should be.
So when you said enrichment, itjust kind of triggered something
for me.
Tell me in the, in the caseswhere you can do that, what does
that look like for, uh, for a
Rachel Lyubovitzky (12:31):
client?
Well, uh, outside of HR data,which is a whole other special
case, I'll give you one goodtangible example.
Uh, you know, client onboardingis a significant portion of a
solution provider's P& L.
And when you ask a question,well, you know, you guys charge
(12:51):
set of fees.
Yes, we do.
How much?
Do those set up fees cover thecost of your onboarding?
Very few companies can answerthat question.
And yet, in larger sense, whenyou're doing financial reporting
and you want to be verygranular, it's kind of useful
information to know.
So, by Being able to granulateas you're onboarding customers,
(13:15):
how long does the task take?
How long does the task costbased on who is working on it?
Do you have a domain expert oryou have a regular onboarding
rep?
Do you have a tax benefitadvisor or somebody?
So being able to granulate onthe task level and then raise it
up on the project level thatyou're working on a client.
You can get to the point whereyou're able to say that, How
(13:37):
take to onboard this customer?
This is precisely.
how much it cost me.
So you can then Have moreaccurate read on the general
contract value of this newrelationship, and you can drive
better decisions as to, hey,these, these guys, this
particular vertical, let's justsay, uh, no kidding about, uh,
(13:57):
municipalities, but let's justsay municipalities are a
fantastic, fantastic client withthe lowest onboarding cost
possible.
Hey, that gives you a good readto the, to the sales and
marketing organization.
That, hey, these guys areprobably easy and inexpensive to
onboard.
Let's bring in more of them,right?
Let's focus on that vertical.
And then, so that's from thesales, uh, directive that you're
(14:19):
able to get from kind of aricher, deeper insight into your
onboarding costs and thenpassing it on to finance folks
who love, love, love theirnumbers, you can get beyond.
Okay, just basic figures.
Hey, we have 20, 30, 50, 100employees doing onboardings.
This is their salaries.
This is what we collected.
It's a very brute force andvery, very, very generalized
(14:42):
approach to figuring out howmuch onboarding costs.
And so being able to granulateon the project, on the products,
on the clients, on the verticalsgives obviously finance folks
wonderful peace of mind thatthis is where they are.
Perhaps a directive that, hey,maybe we should increase our
setup costs.
(15:03):
Maybe there are areas that wehave to focus on.
Uh, maybe there's someefficiencies of scale in
improving our onboarding processso that it's a little bit
faster.
It's very useful, uh, datapoints for finance folks and,
uh, your operating staff ingeneral.
So that's on, you know, gettinga little bit richer, deeper into
the
William Tincup (15:22):
data.
Well, and it gives them, uh,knowing that, uh, safety, the
security of mindset of what's,what's going on, but also helps
improve up the business case, sothe ROI for the software that
they're buying.
Uh, the faster, the faster thosefolks get set up and comfortable
with software, the fastereveryone kind of gets to the
(15:43):
value of software.
Rachel Lyubovitzky (15:45):
Absolutely.
Yeah.
If you get into that area,exactly.
Uh, customers make their buyingdecision for a reason they're
looking for.
better, better employeeexperience.
They're, they're looking formore, more compliant solutions,
richer feature set.
And so they can't usually, when,when, when they're, when they're
closing that deal, when they'reabout to start with the new HCM
(16:09):
provider, they can't wait to getstarted.
You know, you've got a littlebit of this instant
gratification feel like, hey, Iwant it right now.
And so by providing the meansnecessary.
To help drive that value fasterby again using the proper tools
for client onboarding, you'reable to satisfy that need.
(16:29):
Uh, and, and make customershappier, faster, happier.
Yeah.
William Tincup (16:34):
So tell me about like system integrators and
consulting firms.
Uh, I was at Syrian Insights inOctober and on one day I got the
podcast with a bunch of, uh, of,of a lot of their partners,
which happened to be, uh, systemintegrators and consulting firms
and, uh, a lot of fascinatingwork that they're doing.
Um, do you get, Do you get tokind of interact with the EYs
(16:57):
and Deloittes and, you know, uh,all of those folks?
Do you get to interact with themat all, uh, yet?
Rachel Lyubovitzky (17:05):
We are actually working, Deloitte
actually, we, hey folks, we had,we had a conversation, uh,
actually last week, but on.
The, uh, subject of, um,consulting organizations and
implementation organizationsthat provide the, are the
service providers for thatspace.
Absolutely.
(17:25):
These guys have a little bitdifferent business model as
opposed to technology providerslike the aforementioned, the
Workdays, the ADPs, Ceridians.
Their monetization window isusually only during the time
that the service is provided,right, when they're onboarded.
So they have a much biggerincentive to figure out what is
(17:47):
the best thing they can do interms of the process, product,
technology, to, uh, have thebest, realize the best margins
to have the most efficientprocess during that time.
Because a minute of delay,project getting out of scope,
out of timeline, out of budget,the impact for them, they may
never become profitable on thatparticular implementation,
(18:09):
because they never get therecurring revenue.
William Tincup (18:12):
Do you think that there's a model for them
going forward of data as aservice?
Rachel Lyubovitzky (18:22):
Probably.
I mean, conceptually, when Inthe consulting world, the
companies that are advisingtechnology providers on
improving their overallefficiencies, improving their
margins, improving capacity oftheir teams.
That's another topic we didn'ttalk about, how difficult it is.
(18:45):
Especially in the complex B2Bmarkets to hire, train, and
retain, uh, skill, you know,skillful knowledge workers, uh,
these consulting organizationsthat are helping technology
providers with their visions andtheir roadmaps, this is
something that is super helpfulto have you actual quantifiable
(19:06):
data points that, hey, if you'reable to migrate to an automated
solution, that could improveyour team's capacity by 25%.
That could reduce youronboarding time span by 30%.
And at, you know, the higher upyou go in terms of the volume
that these technology providershave to handle, the bigger the
(19:26):
impact.
William Tincup (19:27):
Yeah, I can see, you know, uh, I mean, I hope,
I'm sure they can see this too.
It's, it's on the, on the frontend, it's setting up the data
and making sure the setup, uh,goes extremely well for all
parties involved.
Got it.
But then there's kind of notjust the maintenance of said
data, it's the making sense ofdata that I think, uh, again,
(19:49):
someone needs to do that.
Well, maybe, maybe that's the,maybe that's Ceridian's job.
And we'll just use Ceridian asa, as a, as an example in this
case, maybe that's Ceridian'sjob is to make sense of the
data, or maybe that's Deloitte'sjob is to make sense of the
data, but someone's going toneed to make sense of the data
for the end user, uh, becausethey're not.
(20:12):
You know, even, even with themost intuitive software, they're
still going to need someone tohelp them at least for the next
couple of years to make sense ofwhat data they have, what they
don't have, what the data issaying, you know, trending,
forecasting, all of that stuff.
Some, somebody's going to haveto make sense of it.
Don't, don't you think?
Or am I reading, reading toomuch into this?
Rachel Lyubovitzky (20:33):
Oh no, I totally am on the same page with
you.
In order to start reallyoptimizing the process,
understanding where yourbottlenecks are, you need to
measure what's happening.
So your backlog, how long isyour backlog?
Backlog is the time between,hey, you closed the deal.
But guess what?
You're gonna have to wait fornine months before I have reps
(20:54):
available to onboard you.
So that time is the backlog.
And during that time, the clientis free to leave, you know, if
they, if somebody makes a morecompelling offering.
Um, so starting to track Thebaselines, at the very least, if
you don't do anything else, uh,technologically or process wise,
establish your baselines.
(21:15):
The backlog, the project timespan, how many onboard, how many
clients can a single onboardingrep handle.
Once you have that in place,Then you can start working with
it and figuring out, okay, whyis the backlog so long?
Well, because maybe I don't haveenough team members staffed.
Well, what do I do about it?
How do I find new ones?
How do I incentivize the onesthat are working?
(21:37):
Um, to, how can I make a, helpcreate a more satisfying work
environment for them?
William Tincup (21:43):
Yeah, you bring up a really fascinating point.
Um, we've all been through kindof, uh, implementations that
take, I used to say Years agowhen I would, you know, do
speeches and, and, uh, aroundimplementations and around user
adoption in particular, I'd say,I'd do this bit, I'd say,
listen, I can, I can make everysingle one of you in the
(22:03):
audience fall down on the groundand start sucking on your thumb.
And all I have to do is sayingone word and you know, people
are, you know, it's always, it'sa bit, right?
So I'd say implementation,because at that time.
Everybody had been through justan implementation and it went
sideways.
Everyone.
And if you lived in HR or talentacquisition, if you lived there,
(22:27):
you've been through animplementation and it's been
taught sideways.
But I've seen kind of, uh, inmore recent years, firms moving
to a model where they don't tryto implement the full solution.
It's more of a, um, let's getyou into kind of the, it's
almost like a, uh, icebergapproach.
(22:48):
Let's get you into a piece ofthe, of the, of the solution
that's above the waterline, butlet's do that quicker.
So instead of doing, let's saywe'll do a workday just for fun
for this one, uh, instead ofdoing, um, a nine month
implementation where you, wetake you on and we implement all
of the pieces that you, you'vebought for workday.
Let's get you into just core HR.
(23:10):
And do that.
We could do that in 30 days.
And so it's, it's a piece andthey stand that up faster and
then they move around to theother pieces.
I'm sure you've, you've seenthis.
What do you, what do you thinkof that model?
Uh, and it like the standing upsomeone faster in one part of
the solution and then kind ofmoving your way around to the
(23:30):
everything else that theybought.
Rachel Lyubovitzky (23:33):
I love it.
I think it, it plays to our.
Basic human nature, the changemanagement that, to, to, when
the change is made more gradual,gradual, gradually, you are able
to, you know, engage with it alittle more, understand how it
fits into your lifestyle, intoyour work day, uh, and, um, get
(23:57):
into it.
with a lot more deliberationthan something that's kind of
like avalanche lands on you.
I'll give you the winter examplesince we're headed into the
season.
You know, why, why doeseverybody do body slope?
Right.
Yeah.
You start simple.
You get comfortable.
You understand what you'redoing.
You know where, where, where,where your equipment is and then
(24:20):
you can go for the higherslopes.
William Tincup (24:22):
Right.
Right.
I'm still on the greens, butyes, I understand the metaphor
well enough to understand.
I mean, if I ever get aboveanything above a green.
I'm in a snow plow the entiretime, all the way down.
I, I, I made, accidentally, Iwas in Taos, and, uh, I got off,
what is it, Blue Diamonds?
I got off at the very, very top,and I was just not paying
(24:45):
attention, and I went all theway to the top.
And so I get to the top, andthen, you know, you know the
bit, right?
So I'm looking down, and I'mlike, uh, yeah, I'm gonna die
here.
This is where I die.
So I just got on the snow plowand people are whizzing by me,
you know, yelling at me,whatever.
And I'm just going really superslow.
It took me six hours to get, toget down the hill.
Rachel Lyubovitzky (25:07):
See, that's, yeah, that's, that's exactly,
hey, that exactly relates towhat we were talking about.
You get all the way to the topand you look like there's no way
in hell I'm making that journey,right?
That,
William Tincup (25:16):
that, that we just explained some of the more
intense.
Transitions, again, for SAP orOracle or for Workday, it is an
intense, we don't even thinkabout it.
When we, when we talk about, wedon't even think about how
intense this is for the end userand what, what it's changing in
their lives.
Uh, and so I, you know, I loveit.
(25:37):
Um, last thing is I saw you atHR Tech and we didn't get to
spend a whole lot of time withyou because I was worn out, uh,
from doing a lot of podcasting,but what were your, what was
your goals at HR Tech?
What were you trying to dothere?
Rachel Lyubovitzky (25:50):
Well, as always, it's fascinating to see
how the HCM space continues toevolve, so fascinating to see
all the AI and incredible newinnovations that are coming up
to make the workforce managementworkforce environment a better
place.
And with that, obviously for us,uh, where we see it's an
(26:14):
opportunity to potentiallyaccelerate realization of all
these awesome new innovations inthe HCM space by helping the
providers, uh, deliver thosefaster.
So we see that as an opportunityto see what's the best out
there, what's the latest and thegreatest, and how can we help to
get that into customers handsfaster.
(26:35):
Jobs
William Tincup (26:35):
Mike walks off stage.
Rachel, thank you so much foryour time.
Thanks for coming on the show.
My
Rachel Lyubovitzky (26:40):
pleasure.
Thanks, Will.
William Tincup (26:43):
Absolutely.
And thanks for everyonelistening.
Until next time.
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