In CRM the lookup always points to the ID of the related record and to get the name of that record or mark it with the name of the field, you have to get the related record first and then map it accordingly.
Please see the solved thread below and see if you can resolve the issue. Please post if you continue to face issues in this.
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in update record action i have mapped company name with account name but still gettingg error as "resource not found". can you suggest what is the problem here.
Can you please post a screenshot of the flow so that we can have a better understanding of the issue and assist you better that way?
My Flow scenario : i am uploading contacts from excel and it contains contact fields and account name . During import of contacts and while creating contacts if the specified account name already exists in CRM link that account to contact or else create account and then update contact with newly created account.
Please see below flow screem shots