Quite often, the end goal for a startup is straightforward: to build a best-in-class tool to accomplish a specific task. Depending on what that task is, this might be exactly the right approach.
However, the more complicated and involved the use case, the more important it is to consider the bigger picture. And, rather than focusing on building the best tool, achieving a specific customer outcome itself becomes the goal.
For example….
In Gain Compliance’s case, our goal is not to build the best software. Don’t get me wrong: our solution is unquestionably best-in-class.
Our goal, however, extends beyond this: offering the best software is only the starting point. Rather, we are not satisfied unless our customer has an excellent filing experience. Use of our software is only a part of this process.
This requires a broader view of our mission. We not only want to provide a framework for reporting teams to be more efficient and compliant with NAIC regulations, we also want to empower our customers to complete their filings fully and accurately. While software is at the heart of the process, there are other pieces as well.
In our case, this manifests itself in two areas:
- A high-touch approach to customer support. There is no user setup whatsoever – our team takes full responsibility for onboarding and training. Not only is transitioning to our solution frictionless, but our Customer team is also available to field any and all questions – even those unrelated to our software – at any time.
- Expertise. The accounting rules and guidance around this filing is both complicated and dynamic. We offer a full accounting policy team which stays up to date on the changes, maintains the industry’s best library of educational resources, and serves as an on-call source of information for our customers.
There’s an obvious downside to our approach: it’s expensive. At the same time, since the total customer experience is important, the investment is absolutely worth it. This is particularly true for complicated use cases, and the RegTech challenges Gain tackles most certainly fit this bill.
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