Omniscient: Painting the Broader Picture of Analytics

When Felipe Luna founded Omniscient five years ago, the technology landscape for financial services firms was too fragmented and inundated by legacy systems to keep up with the modern times. “Executives in financial organizations were under the illusion that their business processes were being automated because they were using numerous ‘technology’ solutions to manage their businesses. Instead, most of them found themselves bogged down because they were forced to constantly switch among multiple applications, to extract information and conduct business operations,” observes Luna, CEO, Omniscient. Consequently, organizations lacked the ability to attend to multiple clients simultaneously, directly impacting profitability. Omniscient rose to the operational challenges in a holistic manner.

“The Omniscient application operates on a few simple principles: to simplify technology for financial services firms while helping them reduce the use of multiple applications and data bases, thereby allowing business leaders to see all business data at one time and empowering them to use these data driven insights to improve the decision-making process,” explains Luna. With CRM as its core functionality, the platform performs a range of interrelated activities involving financial document integration along with managing customer interaction portals, service, and case management processes. The Omniscient database records all information received from banks and other financial institutions seamlessly, thereby accelerating data processing for its users.

According to Luna, the present CRM space is experiencing a shift toward higher order predictive analytics. Using advanced analytics, organizations are moving beyond legacy, web-based solutions to the ones that promise automated data integration. “We are approaching an era where organizations will be capable of optimizing the use of predictive analytics in automating client responses and workflow processing,” explains Luna.

40 percent of small financial services firms are unable to afford analytics and automation technology, states Luna, referring to recent studies. In an ambitious bid to empower these advisors to assist their clients better, Omniscient offers its core CRM system free of charge for firms with four or fewer users.
“In the long run, we aim to eliminate legacy technology/ methodology and enable organizations to evolve from outdated servers and workstation-based applications and unify their data in a single app,” adds Luna. This is what makes Omniscient unique. Omniscient’s flexible and lightweight SaaS application allows firms to migrate data from other web-, workstation- or server-based databases to the cloud. The goal, as described by Luna, is to transfer client data in real time, without interrupting the ongoing workflows and integrate the entire firm’s data into a single database. The team at Omniscient applies its experience in business operations to assess clients’ business goals and suggest methodologies that can help them improve their decision-making process.


We are approaching an era where organizations will grow capable of making optimal use of predictive analytics in automating the client experience as well as vital business processes

Luna recollects Omniscient’s success in assisting a small organization that used multiple applications to complete their daily operations. In a course of three months, Omniscient’s efficient CRM platform helped the client consolidate all their applications into a single database. This improved their efficiency by 50 percent while reducing the overall technology costs by 45 percent. Scripting similar success stories, Omniscient has secured a strong foothold in the CRM landscape. In the near future, the company has massive expansion plans that include expanding into Asian countries such as India, Malaysia, and Indonesia, along with South and Central America. “Omniscient will continue to help investment advisors, brokers, banks and insurance firms automate their daily processes, thereby reducing operational costs and increasing efficiency,” concludes Luna.

Company
Omniscient

Headquarters
San Jose, CA

Management
Felipe Luna, Co-Founder & CEO

Description
The Omniscient application operates on a few simple principles: to simplify technology for financial services firms while helping them reduce the use of multiple applications and data bases, thereby allowing business leaders to see all business data at one time and empowering them to use these data driven insights to improve the decision-making process. With CRM as its core functionality, the platform performs a range of interrelated activities involving financial document integration along with managing customer interaction portals, service, and case management processes. The Omniscient database records all information received from banks and other financial institutions seamlessly, thereby accelerating data processing for its users

Omniscient