Discover the latest software purchases and digital transformation initiatives being undertaken by Live Oak Bank and its business and technology executives. Each quarter our research team identifies on-prem and cloud applications that are being used by the 984 Live Oak Bank employees from the public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources.
During our research, we have identified that Live Oak Bank has purchased the following applications: SAP Analytics Cloud for Analytics and BI in 2018, 8x8 X Series for Call Center in 2018, Hubspot CRM for CRM in 2021 and the related IT decision-makers and key stakeholders.
Our database provides customer insight and contextual information on which enterprise applications and software systems Live Oak Bank is running and its propensity to invest more and deepen its relationship with SAP , 8x8, Inc. , HubSpot or identify new suppliers as part of their overall Digital and IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.
We have been analyzing Live Oak Bank revenues, which have grown to $391.0 million in 2023, plus its IT budget and roadmap, cloud software purchases, aggregating massive amounts of data points that form the basis of our forecast assumptions for Live Oak Bank intention to invest in emerging technologies such as AI, Machine Learning, IoT, Blockchain, Autonomous Database or in cloud-based ERP, HCM, CRM, EPM, Procurement or Treasury applications.
About the Customer
Live Oak Bank is a direct bank headquartered in Wilmington, North Carolina. It is a subsidiary of Live Oak Bancshares, Inc., a bank holding company. The bank specializes in originating business loans that are guaranteed by the Small Business Administration (SBA) to companies in 16 specific industries.
Along with Wells Fargo and U.S. Bancorp, it is one of the largest originators of loans guaranteed by the SBA. The company typically sells 90% of its loans, including the portion guaranteed by the SBA. The company does not have any branches but has offices in North Carolina, Florida, Georgia, and California. The company owns three jets, which have been referred to as "branches that fly".
Scope and Challenges
Live Oak Bank uses the latest technology to differentiate itself in the marketplace. Why they chose Analytics Cloud is to help employees answer tough questions and make decisions in real time
Prior to SAP, they had several Excel workbooks with lots of different tabs and that was fine when they were small but they have been a growing company for a number of years and they continue to grep heading into the 2016 budget process.
They saw that unless they made a change they wouldn't be able to deliver the decisions quickly to managers; They were really looking for who would be able to kind of handle the complex models. They chose SAP Cloud for Analytics because they knew that the Hana platform was behind it and because they know that'll they provide better collaboration, better transparency, and greater flexibility.
Outcome and Implications
"SAP really enables us to make decisions faster and to find answers to questions faster. It doesn't take a lot of expertise to understand the software and understand how to use it, you just move drag-and-drop change filters and get the answers you want by educating the rest of the company. We could really empower everyone else through the organization" -said Steven Hayes Analytics Manager at Live Oak Bank.
Vendor | Old Product | New Product | Category | Market | VAR/SI | When | Live |
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Twilio | Legacy Apps | Twilio Sendgrid | Transactional Email | PaaS | n/a | 2018 | 2018 |
Vendor | Old Product | New Product | Category | Market | VAR/SI | When | Live |
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Akamai | Legacy Apps | Akamai CDN | Content Delivery Network | IaaS | n/a | 2013 | 2013 |
Subscribe | Subscribe | Subscribe | Application Hosting and Computing Services | IaaS | Subscribe | 2014 | 2014 |
Subscribe | Subscribe | Subscribe | Application Hosting and Computing Services | IaaS | Subscribe | 2014 | 2014 |
Subscribe | Subscribe | Subscribe | Application Hosting and Computing Services | IaaS | Subscribe | 2018 | 2018 |
Subscribe | Subscribe | Subscribe | Secure Email Gateways (SEGs) | IaaS | Subscribe | 2019 | 2019 |
First Name | Last Name | Title | Phone | |
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Subscribe | Subscribe | Analytics Manager | Subscribe | Subscribe |
Subscribe | Subscribe | Chief Information Officer | Subscribe | Subscribe |
Subscribe | Subscribe | SVP Customer Experience | Subscribe | Subscribe |
Subscribe | Subscribe | Customer Success Manager | Subscribe | Subscribe |
Subscribe | Subscribe | Customer Success Manager | Subscribe | Subscribe |
Subscribe | Subscribe | Customer Success Manager | Subscribe | Subscribe |
Subscribe | Subscribe | Customer Success Manager | Subscribe | Subscribe |