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Welcome to the year's first edition of The Sterling Report. Just a quick
note to introduce some of the new content you can expect in 2005.
First, at the request of our readers we will be featuring interviews on
occasion with industry experts outside the realm of venture capital
investment.
Second, we will be featuring updates on financing news in the enterprise
software world. As our industry consolidates, it becomes even more
interesting to take note of which software companies have managed to
secure the confidence (and money) of venture capital investors.
Finally, I would like to encourage all of you to continue sending in
ideas about interesting people to interview, companies to profile, and
topics you would like us to publish content about. Further, I would
encourage everyone to take note of the upcoming Software 2005 event in Santa Clara on April 26 and 27.
By Angel Mehta, Managing Director, Sterling-Hoffman Executive Search
IONA rose to prominence during the technology bubble of the late nineties, achieving over $180m in annual revenue at its peak. But like every other middleware vendor, the downturn pushed the company to the brink, forcing a dramatic reevaluation of its business strategy. With a new product for the increasingly important Service Oriented Architecture (SOA) middleware market, IONA seems poised to resume its once torrid growth rate. Angel Mehta, Managing Director of Sterling-Hoffman, chats with Chris Horn, CEO and co-founder of IONA Technologies.
By Angel Mehta, Managing Director, Sterling-Hoffman Executive Search
Sooner or later, every startup entrepreneur or CEO will need to partner with a law firm. But with lawyers on every street corner, how do you know which firm to work with, and whether they're providing quality service - or not? Are 'big brand' law firms really worth the often astronomical fees they bill? Angel Mehta, Managing Director, chats with silicon-valley technology law veteran Jack Russo of Russo & Hale to find out.
By Ravi Kalakota & Marcia Robinson, Authors, Offshore Outsourcing: Business Models, ROI and Best Practices
What's in store for global sourcing in 2005? First, it's here to stay, especially in the areas of R&D and software product engineering. Second, the business world will see more companies from countries other than the United States and the United Kingdom begin offshore projects while established service providers and captive centers cope with rising operating costs and attrition rates. Greater demand for global sourcing and the ongoing management challenges should make for an interesting 2005.
By Dave Stein, CEO, The Stein Advantage, Inc., and Henry Bonner, Principal, Fairlead Capital Management, LLC
What is your software company worth? There are many valuation models in use today but broadly speaking, traditional corporate finance models provide us with a view that the value of a business is the present value of its expected future cash flows. This model is often adjusted to look at revenues (Sales Multiple Model) or EBITDA (Free Cash Flow Model).
By Ken Bender and Allen Cinzori, Software Equity Group LLC
Look at the acquisition frenzy. Scansoft acquires three speech recognition software vendors; Marchex looks to dominate the direct search niche by acquiring Name Development; Best Software makes another strategic acquisition; Cerner acquires Vital Works' Medical Division (VMD); and Kintera picks up a valuable property from Intuit for a song.
Our client, an emerging vendor of PLM & decision support solutions for manufacturers, requires a VP WW Sales to build the sales organization and drive revenue growth. The ideal candidate will have a background selling PLM, SCM or ERP solutions to discrete manufacturers. Experience growing revenues from under $10m to over $50m is also required. In addition, previous success at market leading companies such as: Agile, MatrixOne, PTC, Dassault, i2, Oracle, or SAP would be an asset. Candidate can be located anywhere in the United States.
8722J - VP Worldwide Sales
West Coast/Northwest
A leader in customized online information capture and dissemination requires a VP WW Sales to oversee and develop the sales organization, currently with a presence in the US and Europe. Through the initial milestones, our client requires an executive with experience in building upon a strong foundation as the company seeks to grow from under $5m to over $20m in revenue. Minimum 5 years executive management experience, preferably in content management, business intelligence and analytics solutions. Candidate must reside in the San Francisco Bay area.
8773M - VP of Sales
West Coast/Northwest
Candidate must have successful track record of sales management within market leading integration software vendor (TIBCO, WebMethods, SeeBeyond, Vitria) and have led a North American sales organization of at least $40m in revenue. The ideal candidate will have a minimum of 7 years senior level management experience and a demonstrable track record of success in rapid growth environments.
7550M - VP of Marketing
Northeast
Our client is a leading vendor of Enterprise Compliance Management
solutions for Global 2000 organizations. The ideal candidate will have a
track record of success as a senior marketing executive in a young
company environment, defined as growth from under $10m to over $40m in
revenue. At least one successful tenure with a market leading ISV is
required (i.e. Siebel, SAP, PeopleSoft, i2, Documentum).
6005J- VP North American Sales
Southeast
A semi-established vendor of PLM solutions requires a VP North American Sales to manage and improve an established sales and services organization. The ideal candidate will have experience managing a revenue base of over $30m, and have a rolodex in the automotive, semiconductor, manufacturing & production industries. A background selling PLM, ERP, SCM or procurement solutions is preferred.
6100K - Chief Executive Officer
Boston, MA
Early stage front office applications start-up with over 10 referenceable marquis customers and several million dollars in revenue traction seeks a CEO to assemble a professional management team and accelerate company's customer acquisition efforts. Candidates must have exposure to multiple functions within enterprise applications software and a strong enterprise sales background, specifically, a winning track record in securing significant deals on behalf of young companies that are competing against more established category leaders.
9111K - SVP of Field Operations
Northeast
Candidate must have at least 10 years of enterprise applications sales experience, preferably within front office segment. Ideal candidate will have served as VP of Sales in past, managed at least $75m revenue unit for period of 3+ years, and have at least one successful tenure at market leading ISV such as: Documentum, Siebel, SAP, Oracle, PeopleSoft, etc.
7345K- Chief Executive Officer
West Coast/Northwest
Emerging network infrastructure software provider requires a San Francisco based CEO to take the reigns from the founding members and drive growth. A track record in building from under $5m to over $25m is essential and also extensive domain expertise in the enterprise space, particularly the Finance and Government markets. Candidates must have previous senior level executive experience (i.e. CEO, COO, GM) and must have demonstrated the ability to raise funding while crafting a compelling exit strategy.
To apply for any of the above openings, please send an email to jobs@sterlinghoffman.com. Please include full job titles.
Note: We appreciate all submissions, but only qualified executives will be contacted.
All senior sales executives are encouraged to post resumes on www.SoftwareSalesJobs.com
To view the different editions of The Sterling Report, pleaseclick here
