(Related Article: Data Impact Names Michael Lane as Chief Executive Officer)
PYMNTS.com: Could you tell us a little bit about yourself, how you got into payments and what it means to be CEO at Data Impact?
MICHAEL LANE: I began my career in cash management operations at Bankers Trust Company, during the time when Ed Lesser turned the back office expense centers into profit centers. The entrepreneurial spirit, as well as a grounds-up understanding of the business, has helped guide me ever since. I was fortunate in my early career to have worked across many functional disciplines, including development, operations, product, marketing and sales. This broad experience has provided insights into how these functions work together to deliver value to clients. I have also worked with some very intelligent and insightful managers and colleagues who taught me how to work together to achieve a common goal, as well as the importance of always remaining focused on the client.
PYMNTS: What was most attractive about Data Impact, and what was the driving factor to join the company?
LANE: I was introduced to Data Impact by my friend and long-time colleague, Joe Proto. Joe knows a thing or two about spotting a good opportunity and growing it into something much bigger. He has helped build several successful businesses and is now working on his third (and he claims last!). I was attracted not only by the obvious stuff – recurring revenue model, top shelf client base, leading technical platform and functional solution, very hot EIPP market space – but also by the commitment of the financial partners, led by Bill Bridgers, and the founders, Bill Plant-Mason and Charlie Koehler.
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PYMNTS: PYMNTS.com is all about “what’s next” in payments. How will you, in your role, help Data Impact define “what’s next” ?
LANE: Data Impact has firmly established itself as an innovator in the electronic invoicing and payment space. When we sell to larger companies with EDI systems in place, we’re not competing with that EDI system, but instead are providing a complementary solution – one that enables the company to extend the benefits of electronic invoicing and payment to a broader spectrum of its customers. I think a large part of “what’s next” will involve making e-invoicing and payment accessible to more users. Data Impact’s offerings are designed for accessibility and flexibility, so my role is really to make sure that the entire organization is working toward that goal – to make e-invoicing and payments simple, intuitive, flexible and accessible.
PYMNTS: Who or what has been your biggest influence in your career?
LANE: I have a very supportive and loving family – my wife of 21 years, Joann, and two beautiful daughters of 14, Allison and Emily. I work hard to balance the demands of career and family. Between business trips, I have been fortunate to have been able to coach softball teams, chaperone field trips and watch them pursue their passion for musical theater. I have been forced to become efficient because of these other commitments.
Executive Bio: Michael Lane joined Data Impact as Chief Executive Officer and member of the Board of Directors in 2010, on the heels of a number of expansion-focused developments, including a new round of financing, additions to the Board of Directors, strengthening of the management team, recruitment of new industry partners, and the signing of several new clients. With extensive executive experience in payments, cash management and capital markets, Mr. Lane took the reins of Data Impact as it embarked on an aggressive new period of growth.
Prior to joining Data Impact, Mr. Lane served as Senior Vice President and General Manager of Bottomline Technologies, leading provider of cash management solutions, where he led the business to significant growth. Previously, as Managing Director, Global Banking and Capital Markets for Pegasystems, a provider of business process management solutions, Mr. Lane built a New York-based team to penetrate the financial services market, and brought on significant new business. As a founding member of Encompys, a start up independent software company owned by Accenture, The Bank of New York, Microsoft, Compaq, and Advent Software, he served as Chief Marketing officer.
Earlier in his career, Mr. Lane served as Global Director, Capital Markets with Accenture, Senior Vice President of Banklink (a Fiserv company), and held Vice President positions with both Chase and Bankers Trust Company.
Mr. Lane holds a BA from the University of California, Los Angeles, and an MBA from Columbia University’s Graduate School of Business.
Keep it simple, stupid. That could be the motto for Data Impact‘s new CEO, Michael Lane, who is working to streamline the e-invoicing process. Data Impact is a provider of modular, SaaS-based Electronic Invoice Presentment and Payment (EIPP) solutions. Lane shared his thoughts with PYMNTS.com on “what’s next” in e-invoicing innovation.