TripleTree CRM

SaleS, Marketing and Serviceconvergence:HOW SAAS ECOSYSTEMS AND COLLABORATION TOOLS ARE REDEFINING CRM

a tripletree industry analysis

SPotligHt rePortWWW.triPle-tree.coM 7601 France ave S, Ste 150, MinneaPoliS, Mn 55435 12526 HigH BlUFF dr, Ste 300, San diego, ca 92130 952.253.5300

TABLEOFCONTENTS

INTRODUCTION 2

EXECUTIVESUMMARY 3

WHYCONVERGENCEISHAPPENING 4

ECOSYSTEMS 6

COLLABORATION 10

IT–SHIFTINGMARKETINGFROMARTTOSCIENCE 14

MARKETINGAUTOMATION 16

THECHANGINGROLEOFPROFESSIONALSERVICES 18

CONCLUSIONS 21

APPENDIX 24

THETRIPLETREETEAM 26

TripleTree,LLC

7601FranceAvenueSouthSuite150Minneapolis,MN55435

Minneapolis

t952.253.5300f952.253.5301

SanDiego

t858.792.3406f858.792.3407

www.triple-tree.com

MINNEAPOLIS952.253.5300SANDIEGO858.792.3406WWW.TRIPLE-TREE.COM Q32007CRMCONVERGENCEPAGE1

Organizations are no longer making independent departmental decisions about how to best serve their clients.

Driven by a range of compliance benchmarks, organizations have become aware of customer information silos. The result is that they are now internally focused on their varied customer touch points and where sales, marketing and service workflows and processes intersect. Externally, the impact of consumerism and the success of Internet communities are redefining how customer and business experiences can be managed.

TripleTree is fanatical about understanding unique delivery models and how they can create value for emerging companies. Few domains are being impacted by innovative delivery models more than Customer Relationship Management (CRM). Thanks to this innovation, critical customer and business information can be shared, and performance can be measured by simple, powerful, common systems that are engineered to automate customer facing workflows.

We’re convinced that the Software as a Service (SaaS) delivery model is a catalyst for the next generation of CRM. As the micro-disciplines of CRM link with Web 2.0 tools (specifically collaboration solutions), we believe Business Relationship Management could become a more meaningful description of the technologies and processes that mesh to frame the customer experience.

For emerging vendors in the midst of this transformation, SaaS will create value for its investors because of the well known benefits of recurring revenue streams and lower costs of innovation. However, these firms will need to align with platform partners who can provide the infrastructure and logic around other core business components to truly emerge as leaders.

This report reviews: - how the silos around sales, marketing and service are being

torn down because of SaaS;

- where leading vendor ecosystems are rationalizing new technologyplatforms that can impact CRM;

- where Web 2.0 and collaboration tools are becoming competitive differentiators for CRM vendors; and

- how the role of professional services is changing as SaaS proliferates.

TripleTree continues to work with terrific firms seeking their next plateau of growth while also advising global acquirers on ways they can remain opportunistic as new competitors enter the landscape. If your organization could benefit from our thinking and support regarding investment banking or strategic advisory services, please contact us.

For more on how TripleTree is

helping growth businesses with

investment banking, strategic

capital and long term advisory

services, please visit our website

at www.triple-tree.com.

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INTRODUCTION

EXECUTIVESUMMARY

Application functionality is demand-driven, not supply-driven. Workflows for IT, executive and knowledge workers are converging and the enterprise applications that were engineered for yesterday’s processes aren’t keeping up. Ten years ago legacy ERP, HCM, CRM and other enterprise functionalities were designed and built around silos and departments – and for the most part these solutions haven’t changed. Workflows today are broadly defined relative to their domain or industry vertical. For CRM, they refer to a set of related end-to-end business processes that produce a specific product or service that enhances customer value. Because more of today’s workflows and processes are both cross-departmental and may extend outside of an organization, the ways in which co-workers can collaborate to support these processes can be erratic – leading to unstructured, (or worse) undocumented activities. CRM software suites have automated many of the business processes which tie together sales, marketing and customer service functions and their accompanying workflows and activities. While much was accomplished by legacy CRM vendors, new and meaningful evidence of a convergence between key micro-disciplines within sales, marketing and service is emerging. This is buoyed in large part by the need for users to share information and the explosive growth of the SaaS (or “on-demand”) delivery model.

SaaS is proving to be an effective mechanism for building and aligning the tools necessary to facilitate inter-departmental collaboration and to alleviate some of the pain associated with change management and re-implementation of legacy software solutions. TripleTree’s perspective on the disruptive nature of SaaS is based on several emerging trends:

• Ecosystems have formed around a handful of technology and business services

• Collaboration technologies are tying together disparate workers to share

• CIO’s are finally coming around to the reality that SaaS-based applications can

• Vertical applications are increasingly relevant, especially in sectors like

• Marketing automation is emerging as the hub around which many customer –

The capital markets have recognized the growth (both in terms of user adoption and revenue) and business benefits of SaaS, and are associating a premium valuation with vendors who can demonstrate the ability to clearly track and optimize customer acquisition and loyalty. For these businesses, the options for gaining scale are numerous, however fast growth alone doesn’t denote value creation.

Positioning, messaging, pricing, a keen focus on adoption and relevant partnering all have a role in the strategic thinking of CRM vendors offering a SaaS delivery model. This, coupled with the rapid pace of innovation around SaaS, should spur emerging vendors to identify and become quickly visible within an ecosystem and to simultaneously leverage a collaboration tool set to remain disruptive and become part of a platform solution.


firms. These are most often technical at their foundation, but the need for eight (see page 9) “core” financial and operational components are becoming evident.

information and better serve customers. In addition, they’re redefining vertical solutions and business platforms upon which new applications can be developed, shared and marketed.

benefit most departments within their organizations. Many Web 2.0 tools are moving too quickly for IT to support in a traditional manner, yet the CIO and the team have a role to play as customer data is shared and analyzed.

healthcare or domains like compliance. The information needs and converging workflows around data quality and content sharing are critical elements of compliance and user satisfaction and are becoming increasingly intertwined.

facing applications will orbit. In addition, traditional linkages that marketing has with sales and service are growing stronger and new linkages with finance and HR are forming.

Convergence within CRM is becoming top-of-mind because the differences between sales, marketing and service are narrowing, the related business processes are becoming more integrated, and the value of customer retention is hyper-appreciated.

The history of on-demand CRM grew from point-based solutions addressing specific customer needs into burgeoning functionality and broader product suites. At its worst, licensed CRM software deployments littered the IT landscape with abysmal shelf-ware stories and an underserved small and mid-sized business (SMB) market. However, as on-demand CRM took flight in 2001, good-enough functionality and affordable pricing drove high user adoption and were early signs of a broad trend in how application functionality could evolve and perpetually innovate.

SaaS pioneers like Salesforce.com and Salesnet anchored broad on-demand sales functionality and RightNow emerged as a leader in services. However, marketing has been left behind. Vendors like Unica and Aprimo represent on-premise software solutions that do not necessarily offer best-in-class functionality across the wide range of needs confronting most marketing roles. It’s because of the continued growth of sales and service, and the promise of marketing that CRM remains a “top five” growth category among the two dozen SaaS domains and verticals tracked by TripleTree (for a complete list of these domains and verticals, see TripleTree’s SaaS Update Spotlight Report, September 2006).

Currently over 300 firms offer CRM solutions delivered via SaaS, but as collaboration tools mature and vertical specialization takes hold, TripleTree believes this number could double by late 2009. One reason for this growth is that the influence of collaboration tools on business relationship management solutions is influencing how vendor ecosystems are forming. Encouraged by hot capital markets and the lack of competitive fervor from legacy software firms, ISVs are attempting to broaden their functionality by joining ecosystems in the hopes of building market awareness and client uptake. Also spurred by the enthusiasm of ISVs to “join their family,” ecosystem leaders are scurrying to amass core business functions. Borrowing from the old adage “membership has its privileges” is a reasonable portrayal of how member ISVs will view these coordinated functions as ecosystems mature into more stable sales and delivery platforms.

As shown in Figure 1 on page 5, licensed or packaged CRM is no longer a “high growth” component of the enterprise applications sector as we project it to grow at 3.1% CAGR through 2011. In contrast, TripleTree is projecting strong growth for SaaS-based CRM solutions and professional services at 54.7% CAGR through 2011. A number of factors influence these estimates: an expected strong rate of venture capital investment continuing in CRM; growth and proliferation of open source CRM; growth of enterprise-class SaaS CRM deployments; broad and deep penetration of the SMB market; and an evolution of collaboration-inspired CRM solutions. Thus, by 2011 we estimate that spending on SaaS applications and

MINNEAPOLIS952.253.5300WWW.TRIPLE-TREEE.COMSANDIEGO858.792.3406

About TripleTree’s Sector-Q

Diagram on :

In 2005, TripleTree established a

graphical representation for mapping

markets and sectors as its Sector-Q

diagram (trademark of TripleTree) and

schema. Originally designed to support

client advisory assignments, the Sector-

Q diagrams now encompasses 15

versions covering a range of domains

and verticals and have become integral

to our research agenda.


WHYCONVERGENCEISHAPPENING

professional services will comprise over 50% of the overall CRM market (or approximately $8.4B).


Lead Conversion Analytics

Opportunity Management

Channel Management

Presentation Generators Applications

Proposal & Quote Management

Prospecting/Contact Management

Mobile Sales

Sales Coaching & Training

Configuration Management

Human Capital & Performance Management

Self-Service Training

Product & Service Delivery Support Standards

Remote Contact Center AgentsOutsourced Contact Center

Sales Operations

Customer Interaction

Mgmt

e-Commerce & Order ManagementCustomer Service Portals / Microsites

Customer Asst’d. Product Dev.Order Processing

Marketing Planning and CalendarsPrivacy Management

Contact Center

Customer Data HubWeb Site Analytics

Partner Feedback Management

Product Engineering and Launch

Mobility Solutions / Dispatch

Competitive Market AnalyticsUnstructured Data Analytics

Marketing

Inbound Communication

Service

Customer Service Analytics

Sales

External Communication

Life-Cycle Management

Account Preparation

Planning and Strategy

Data Assessment

Negotiations & Contract Management

Live Chat & Presence

Account Management

RFP Response and Pursuit

Voice & Web Self-Service

Incentive Compensation

Product ManagementMarketing Analytics & Econometrics

Customer Information File

Lead Qualifications & Scoring

Promotional Management

Multi-Channel Sales Development

Territory Management

Forecasting

Internal CommunicationCase Management

Field Service Management

Team Performance Dashboards

Sales Analytics & Reporting

Technical Support

Case Resolution / Reporting

Pricing StrategyMarketing Resource and Asset Management

Alliance & Partner Relationship Management

Data Quality

Detection

Product Messaging & Positioning

Media Intelligence and MonitoringProduct Content Management

Marketing Spend Management

Advertising Planning and Strategy

Affiliate ManagementLoyalty Marketing

Ad Placement & SEOCampaign Planning & Optimization

Email MarketingWeb Marketing

Event ManagementTrade Promotion

Web to Lead

Community PlatformsVOIP

Lead Management

CSR Unified Desktop

Customer Experience Management

Enterprise Feedback Management

Performance Management

Marketing Compliance1:1

Marketing

Decision Support Analytics

Lead Development Outsourcing

Driving the growth in Figure 1, TripleTree’s proprietary database contains qualitative and quantitative rankings of over 300 firms offering CRM solutions via SaaS (TripleTree’s overall SaaS database now exceeds 1,100 firms). Using our proprietary Sector-Q market map, TripleTree has identified approximately 80 micro-disciplines within sales, marketing and service (See Figure 2) that are impacted by SaaS vendors and professional services firms focused on SaaS. The Sector-Q is a framework used by TripleTree when advising business builders on how value can be quantified and strategic alternatives assessed.

Figure 2: TripleTree’s Sector-Q for Customer Relationship Management


SaaS Delivered GrowthEstimated CAGR = 54.7%

Source: TripleTree, LLC

Figure 1: CRM Sector Revenue Forecast: SaaS vs. Packaged/Licensed

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

2006-2007 2008 2009 2010 2011

(in $ millions)

20%

28%

39%

0%

10%

20%

30%

40%

50%

12%

51%

Packaged Software Growth Estimated CAGR = 3.1%

-SaaS-delivered CRM (includes subscription revenues for sales, marketing and service disciplines and SaaS-specialized professional services).

Packaged CRM Software (also includes maintenance and professional services revenues related to packaged software implementations).

SaaS-delivered CRM revenue growth as a percentage of the overall CRM sector.n n Source: TripleTree, LLC & Industry Sources

Businesses and end-users have complex technology and information needs that no single CRM vendor can possibly satisfy. For nearly two decades, sales, marketing and service systems have been built in silos to address these needs, yet they have unknowingly created limitations for sharing product, customer, and sales data. These limitations stemmed from technologies that built a proprietary wall around customer and market data and didn’t establish a means for information sharing or fluid collaboration. And, because these cross-departmental views were clouded and disjointed, executives have been limited in their ability to tap valuable data resources across departments. The result is that there are now thousands of business leaders in charge of ecosystems and most don’t realize it.

With workflows between departments flattening organizations, the task of re-engineering legacy applications to address these information sharing and collaboration needs would be a significant, multi-year undertaking and be extremely cost prohibitive. As application vendors realize that customers want more than just applications to tackle these needs, ecosystems are forming to facilitate the integration of best-in-class solutions.

Ecosystems while not new, are being redefined as best-in-class SaaS and collaboration tools permeate business units and IT departments. The productivity leverage from linking these point solutions are beginning to illustrate that “workflow integrations” are as much (if not more) important than “systems integrations.”

To ensure rapid deployment and strong user adoption, integration of discrete SaaS solutions still require the guidance of a professional services firm – both at a systems and workflow level. However, as Web 2.0 technologies mature, the move toward platforms will likely see SaaS vendors embedding more plug-and- play integration capabilities and added considerations for automating workflows. The goal for these vendors will be to drive down customer costs associated with implementing platforms (which may be one-time fees) while building up a recurring revenue stream. Illustrated throughout this report are a few considerations on how SaaS ecosystems are beginning to link departments across an extended enterprise and where SaaS platforms may likely evolve.

Performance Management: Human Resources and Finance are two departments becoming more actively linked to sales, marketing and service disciplines, making performance management a potential growth area in CRM. As these departments grapple with manual processes and spreadsheet-driven information flows, SaaS vendors – with performance management solutions – will see strong market interest from customers focused on getting the most out of their employees.

SALES PERFORMANCE

DiamondPerformanceGroupwww.diamondpg.com

WHYTHEY’REINNOVATIVE:

DiamondPerformanceGrouphasevolved

itshighlyuniqueapproachtoperformance

benchmarking around key metrics and

behavior traits which can feed directly

intoincentivecompensationprogramsand

HRhiringprofiles. Thisdataallowssales

managers to become better coaches

for their reps and promote a culture of

continuous improvement between sales,

financeandHR.

KEYMETRIC:

Focusonattributesoftopperformersto

drivefinancialresults.


ECOSYSTEMS–ACORNERSTONEFORSaaSPLATFORMS

“SaaS ecosystems are quickly enabling

SaaS vendors and users to integrate

multiple on-demand applications. These

ecosystems typically permit integration

and interoperability at a software code

level via mutual APIs and web services;

at a user interface level via common

design elements; and at a sales and

marketing level with joint procurement and

provisioning capabilities.”

–JeffKaplan,

SeniorAdvisortoTripleTree/

ManagingDirector,THINKstrategies

• Employee Optimization: Most sales executives will agree that integrating a technology-based selling solution with a proven sales methodology can be beneficial. The benefits range from equipping reps to handle thorny account management issues and optimizing how peak performers are managed to where incentive compensation can be best positioned. As shown in Figure 3, this data can be captured and fed to an HR department as useful information when hiring or facilitating performance evaluations, and to the finance department as quantitative business and product results are measured.

Figure 3: Microdiscipline Cluster – Performance Management Solutions

• Incentive Compensation Management: ICM is a discipline being improved by the proliferation of discrete SaaS tools. It’s an obviousarea of convergence as Finance and HR departments begin to collaborate on team and individual performance, and the CFO becomes increasingly focused on sales team ROI. Currently two SaaS vendors – Centive and Xactly – are addressing this domain area with unique client approaches.

Workflow Improvement:Complex processes can define a workflow when linked by a dynamic set of related tasks. Sales pursuits, product development and compliance management are examples of resource-intensive activities that drive important results. For sales pursuits, customer information, product data, competitive intelligence, configuration resources and pricing data all converge into a proposal or quote. When developing a product, notes from contact center employees, customer forums, enterprise feedback management and cost data converge to craft a product roadmap. As compliance is monitored, documents, financial data and business rules converge to evaluate risk and identify issues. Because many SaaS solutions have simplistic workflowengines, complex environments like these can be addressed by point solutions and integrated within an ecosystem.

INCENTIVE COMPENSATION

Centivewww.centive.com


Targeting mid-market clients has allowed

Centive to enjoy strong growth and build

creativity into their solutions. While

addressingSarBoxneedsaroundreporting,

Centive has realized that gaining input

fromsalesprofessionalscanbeinvaluable

as solutions are tailored and incentive

programsaredesigned.

KEYMETRIC:

Maintainsolutioncreativityandlistento

yoursalesprofessionals.

INCENTIVE COMPENSATION

Xactlywww.xactly.com


Xactly is building a suite of services on

top of its base sales compensation and

performance management solution for

midtolarge-sizedorganizations.Someof

theseincludeapproachestohelpalignthe

salesdepartmentwiththeCIO,withbetter

territory management, and compliance

reporting.

KEYMETRIC:

Linksalesandfinanceonabroadersuite

offunctionality.


Sales

Service

Marketing


Internal Communication

Data Assessment



Lead Management

Account Preparation


ECOSYSTEMS–ACORNERSTONEFORSaaSPLATFORMS




Channel Management




Mobile Sales







Sales Operations


Mgmt


Customer Asst’d. Product Dev.

Order Processing


Contact Center






Marketing


Service




Account Preparation


Data Assessment



Account Management










Forecasting





Technical Support




Data Quality

Detection









Web to Lead


Lead Management

CSR Unified Desktop




Marketing Compliance

1:1 Marketing



Addressing Vertical Markets: Vertical markets are becoming a key point of competitive focus and differentiation for many SaaS vendors. Annually, TripleTree spends hundreds of hours in briefings with global firms regarding their SaaS strategies and other disruptive forces in the market. Invariably these discussions center on key industry verticals as evidenced by Salesforce.com’s recent introduction of its Wealth Management Edition. The marketplace is now seeing a major SaaS vendor put a marketing focus behind a CRM vertical solution. For this edition, Salesforce.com will likely tweak little of its core technology, but instead leverage its AppExchange platform and partner support to deploy at Merrill Lynch (its first announced Wealth Management Edition client).

The Impact of Consumerism: A number of household name consumer web-based firms (WebMD, eBay, Amazon) have awakened to the reality that their consumer-based pricing models (advertising, content, transaction) and user design constructs could be successful if focused on a business solution. Not only are these consumer models sustainable, but in verticals like Healthcare – where employers are taking control of costs – they could be extremely effective, e.g. Yahoo! Health and Google Health. Consumer business models are about trust, and considering the credibility that Paypal and Verisign bring to a Web property, SaaS platforms will follow suit. A good example of this is AmericanExpress, whose recent investment in Rearden Commerce proves that they “get it” and could potentially become a disruptive competitor with customer-facing business applications like CRM. Another solution provider taking what they learned from selling to customers and applying it to businesses is Connextions.

Maturing Ecosystems: To take advantage of these opportunities, many other consumer brands will likely evolve their platforms to enable Web-based business functionality and attract partners. Consider Amazon.com with its Amazon Web Services platform. Via its aStore and Omakase functions, Amazon is building eCommerce capacity for SMBs that want a simplified and proven way to link products, make recommendations and track sales. As TripleTree maps how SaaS ecosystems are influencing markets, we are aware that many emerging SaaS vendors are not sufficiently capable of delivering a comprehensive solution without professional integration and support services. For these firms, a hybrid business model balancing custom pricing, project-oriented deployments, and a common definition of client relationships is the norm. As shown in Figure 4 on page 9, there are eight foundational components TripleTree views as critical for an ecosystem to mature into a platform. These components will offer ecosystem members a comprehensive ability to connect suppliers, clients and communities – elements which can improve workflow as an “extended organizational team” and foster collaboration. Not all of the market leaders listed in Figure 4 offer a CRM solution. However, key SaaS platform elements are maturing for these firms which could make them viable business relationship management providers.

OUTSOURCED CUSTOMER SERVICE

Connextionswww.connextions.com


Connextions has revolutionized how

customerdataisharvestedandappliedat

every stage of the transaction lifecycle;

using every touchpoint as an opportunity

to drive revenue and brand loyalty.

Connextions has applied its proprietary

expertise within the healthcare sector,

enabling plans and providers to make

the transition from commercial (B2B) to

retail (B2C) distribution, addressing the

rapidgrowthofconsumer-drivendecision

makingandsales.

KEYMETRIC:

Make customer data manageable and

actionabletoincreasesalesandcustomer

retention.


Compliance Security

Administration

Billing

Workflow Integration &PartneringCommunity

Document Management

Eight Core SaaS Components

• Amazon• AmEx• Apple• eBay• Google• WebMD• Yahoo!

Consumer Oriented Tools/Portals

• Adobe• Cisco• IBM• Intuit• Microsoft• NetSuite• Oracle• Salesforce.com• SAP

Enterprise Application Vendors

•

•••••••

• ADP•AON•BankofAmerica•Fiserv•JP Morgan Chase •Wachovia•United Health Group

•••••

Vertical / Business Services Providers

Platform-Ready Market Leaders (SaaS Capable)


Figure 4: Potential Business Relationship Management Platforms



Business Applications

Web 2.0

Social

Unified Messaging

Faxing

Email

Voicemail

Instant Messaging

Web Publishing

Internet Forums

Online Chat

TelephonyVOIP

Video Conferencing

Data Conferencing

Desktop Sharing

Application Sharing

eMarket Place

RSS Feeds Mash-ups Service 2.0 Folksonomies Support

ServicesComplimentary Business

Groupware

Wikis

Podcasts

Blogs

Social Software

Online Office Suites

Web Analytics / Reporting

Dashboards

eForm Management

Application Streaming

Group Calendaring

Document Management

Contact ListsVirtual Team SpaceMobility

Patch Management

Backup Management

Virus Protection

Presence

Conferencing

Management

E-Commerce

Contact Center

Web Meeting Systems

Remote Support

Desktop Streaming

Portals

Communication

COLLABORATIONTOOLSARESTREAMLININGWORKFLOWS

The growth of collaboration and Web 2.0 is making an impact on the CRM sector. As knowledge workers seek others who share their energy and vision for a given topic, collaboration tools are blurring the lines between how organizations, departments, functions and roles are interacting. As these interactions occur, harnessing ideas and best practices on a platform will be a logical link for CRM workflows and collaboration technologies.

The Web 2.0 technologies that support collaboration (social networking, blogs, wikis, tagging and RSS) are mostly offered by point solution providers. But similar to the evolution of the micro-disciplines evolving in CRM, the move toward a platform of linked functions is happening quickly. Cisco’s recent acquisitions of FiveAcross (social networking) and more notably WebEx signify that a market premium can be placed on content and collaboration tools, but also that large global players are beginning to enter the playing field. Not surprisingly, Adobe, IBM, Google, Microsoft, Oracle, and Salesforce.com are also among the major software vendors building collaborative tools. TripleTree believes that collaboration tools will mature into a key platform component as the metadata resulting from client and partner interactions is captured, analyzed and put to use. Depicted in Figure 5 and Table 1 on page 11, TripleTree has identified approximately 50 micro-disciplines linking communications and business applications in the collaboration sector.

Figure 5: TripleTree’s Sector-Q for Collaboration


LOYALTY MARKETING

VerticalResponsewww.verticalresponse.com


Vertical Response has evolved as a

resource for its clients beyond plain

vanilla email marketing services. Using

simple Web 2.0 tools, their executive

teamhasbuiltafan-likefollowingofusers

who are regularly blogged with valuable

insights onmarketing best practices and

links to useful sales enhancement tools.

Encouragingatwo-waydialoguebalances

this collaboration and creates a simple

butpowerfulcommunitywhereinnovation,

valueandloyaltyareexchanged.

KEYMETRIC:

Evolvetoavoidbecoming

commodotized.


ecivreS dna gnitekraM ,selaS ot dekniL stnemtrapeD

TI secruoseR namuH ecnaniF senilpicsiD MRC

Sales


Management

• Visibility into quota attainment, performance metrics and commission payments.

• Evolve to performance based incentive and advancement.

• Up-sell and cross-sell forecasting and reporting.

Sales Knowledge and Team Performance

Management • Sales rep ROI

• Development of an deal sales rep profile.

• Complex solution selling and activity reporting.

• Access to corporate knowledge databases, competitive content and best practices.

Mobile Technologies and Portals

• Remotely monitor marketing programs.

• Foster collaboration

• Mobile worker connectivity primarily impacts contact information, email and chat; but service alerts and order status are emerging applications.

Marketing


• Links financial performance to customer satisfaction strategies.

• Addressing organization alignment of how a customer experience mindset would be adopted across and organization.

• Ensure users understand and work with customer facing systems.

• Design these systems with common UI and interconnectivity across channels.

Marketing Spend Management and

Campaign ROI

• Allows managers to make trade-off decisions related to how campaigns perform relative to planning and budgeting.

• Optimized IT Spend Management

Benchmarked Marketing

Performance, Predictive Analytics,

Data Quality

• Analyze and predict churn, likelihood of next purchase, effective targeting.

• Clean prospect and customer data is a key driver to overall CRM success.

• Tied closely to Service technologies via contact center data collection and validation.

Service

Collaborative Service • Define and lead standards around

Extended Enterprise communications.

• Knowledge management aids client/agent/employee/ partner interaction.

• Can lead to integrated document sharing and proactive service.

Outsourced Contact Center

• Optimized ROI for service initiatives.

• Performance metrics help manager and agent with reporting and workflow improvements

• Lower cost, accelerated time to market, simplified IT demands.

Workforce Optimization

• Unified quality monitoring, workforce management, e-learning and performance management.


• Survey driven feedback designed for a centralized view of feedback across sales, marketing and service.

Table 1: Where Collaboration Links the Extended Enterprise

More Evidence from Salesforce.com: Not surprisingly, Salesforce.com is educating the market on the disruptive influence collaboration tools can have within sales, marketing and service disciplines. The Company’s Spring ’07 edition includes a platform called AppSpace which is designed to allow users to share content and best practices on a collaborative portal. In addition, Salesforce.com recently acquired Koral, a document management firm that began as an AppExchange partner. The Koral functionality will likely be aimed at prospects

and current Salesforce.com customers who will never invest in EMC’s Documentum and who find Microsoft’s Sharepoint too complicated. Both of these initiatives were in some ways trumped by the announcement that the Company’s Apex platform can now be subscribed to separately from its SFA service to build custom applications. This represents a major step forward in the ecosystem capacity and platform aspirations of Salesforce.com.



Improving Customer Experience is Important:Because every role in an enterprise cares about the customer experience, it’s likely that collaboration tools will take a leading positioning in influencing how customer retention programs are designed and implemented. Tempering this is the fact that many business workflows prohibit marketers from actually making an impact. Easier access to information for customers (the individuals who need the better experience) can be built by linking the feedback from customer forums, surveys, executive blogs and other communication mechanisms. This is technology that exists today from many SaaS firms and will proliferate as marketing becomes a mindset, not just a department.

Inter-Departmental Accountability is Growing: As workflows overlap, applying important performance objectives to the collaborative efforts of sales, marketing and service departments is benchmarked by firms like SiriusDecisions. Whenever marketing and sales departments can establish performance objectives around customer communication and business development programs, the going-in expectations can be rationalized against variables and actual results, building trust and encouraging continuous improvement – all of which can be measured via SaaS tools.

One such area of customer communication is campaigns, which can be impacted by tools like those from iCentera, whose SaaS solution meshes traditional service functions like web, phone and mobile with the Web 2.0 experience of targeted portal management. This allows customer communications to be captured, analyzed, and acted upon in a format that is digestible for field sales and service personnel.

Customer Service as a Key Competitive Differentiator: As shown in Figure 6, the micro disciples of service such as unified agent

BENCHMARKING

SiriusDecisionswww.siriusdecisions.com


SiriusDecisions is focused on getting

sales and marketing departments

marching in lock step regarding best

practices collaboration. Proponents of

“marketing SLAs,” SiriusDecisions is

helping executives leverage performance

objectives,togaingreatervisibilityintothe

variousrolesthattouchcustomers,macro

forcesthatinfluencelikebuyingcycles,and

in-the-trenchesworklikeleadprospecting,

scoring,marketingprogramROI.

KEYMETRIC:

Measuremarketing’seffectiveness

forsalesteams;modify;repeat.


PORTAL MANAGEMENT

iCenterawww.icentera.com


iCentera has approached a marketplace

need for improved communication and

information sharing between partners

throughon-demandportals.TheiCentera

toolkitissimplisticandflexible;userscan

be online and productive in minutes and

thedocumentstorageandrefreshengine

is powerful. This technology is useful

for large enterprises that need a more

nimblesolutiontotheircorporateintranet;

and SMBs looking for an affordable and

powerful way to communicate more

effectivelywithcustomers.

KEYMETRIC:

Getportalusersproductivequickly,with

minimalornorelianceonIT.

Figure 6: Microdiscipline Cluster – Customer Communications Solutions

Source: TripleTree, LLCService

Sales

Marketing



Data Assessment



Lead Management

Account Preparation




Channel Management




Mobile Sales







Sales Operations


Mgmt




Contact Center






Marketing


Service


Sales



Account Preparation


Data Assessment



Account Management










Forecasting





Technical Support




Data Quality

Detection









Web to Lead


Lead Management

CSR Unified Desktop





Marketing



desktops, mobile CRM, customer self-service, hosted contact centers and supporting analytical applications are increasingly being delivered via SaaS and bridging to workflows of other organizational roles. Web 2.0 and collaboration can help organizations better address the balance of web, phone, self-service and wireless technologies with human interactions while providing the most cost effective customer service experience.

Mobile technologies have evolved to be more process-centric. Thus, they are tailor-made for capturing and routing customer-related communications in a digestible and useful format to field sales and service professionals. While still a niche area, mobile technology has re-established itself in certain industry verticals. In the transportation industry, employee productivity, collaboration, cost reduction, regulatory compliance and asset management are driving this resurgence. In healthcare, improved data collection, patient intervention and coaching are a few of the drivers creating the phenomenon of “telemedicine” (for more details see TripleTree’s recently published Spotlight Report Telemedicine 2.0: Connecting Medical Devices, Patients and Providers to Improve Health). Interest in mobile sales solutions has also been renewed because of a focus on business process improvements. Response times, reporting, alerts and data capture have been enhanced by high-speed data networks and are now bringing real value to sales and service personnel in terms of productivity, service quality and data usefulness.

On-demand functionality has matured to some extent and for this study is represented by two distinct and measurable advantages as a SaaS application: an integrated view of the customer (offering a lower cost operation and higher customer satisfaction) and enhanced job satisfaction for contact center agents. Thanks to solutions from SaaS vendors like Contactual, SaaS-based contact center applications allow managers to remotely monitor agent productivity, support flex-time schedules, and create convenience for a work-at-home employee. A few benefits for this are listed below:

• HR can use this flexibility as a lure when recruiting, hiring, training and promoting contact center agents;

• Finance can view “mashed up” performance-based dashboards for workers as evaluations are performed, budgets are allocated and hiring and training is funded; and

Service center agents can leverage collaboration tools to more effectively work with clients on issue resolution and be more proactive in working with sales colleagues on up-sell and cross-sell opportunities.

CONTACT CENTERAUTOMATION

Contactualwww.contactual.com


Contactualisfocusedonofferingasimple

and scalable contact center solution that

addressesinboundclientcommunications

and contributes to revenue acceleration.

In addition, Contactual has a platform

that can address evolving needs around

helpingfacilitatesalesorders,responding

to marketing campaigns, and offering

customereducationduringaninteraction.

With lessons learned from its former life

asWhitePajama,Contactualunderstands

thatcost,flexibilityandreliabilityarekeys

toitsSaaSsolution.

KEYMETRIC:

Focusonkeyalliancestobetter

serveusers.


•

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

2007 2008 2009 2010


Figure 7: Contributing to the Business Relationship Management Evolution: The Projected Revenue Growth of SaaS-Based Collaboration Tools



Data Assessment

Planning & Strategy

Account Management



LeadManagement

Collaborator

Facilitator

CIO

A number of independent surveys support what is becoming increasingly apparent in the marketplace: IT’s work direction (and even strategy) is being influenced more by an organization’s business units. Marketing departments have historically been the voice of companies, but have admittedly understood little about leveraging data and analytics – keys to influencing strategic thinking. Many of the CIOs who are believers in the transformative qualities of SaaS (cost savings, ease of implementation, minimal technical support) are becoming advocates for mainstreaming technologies that link critical customer data along the value-chain. TripleTree sees the role of IT as it relates to the growth of SaaS spanning two areas – as a facilitator and as a collaborator with each role being fluid based on how integrated the CIO is with the sales, marketing and service organizations, and the presence of SaaS in the CRM microdiscipline of the organization. While it’s true that many marketing technologies (predictive analytics, search engine optimization, social networking, folksonomies) are moving too fast for IT to keep up with or support, a few initiatives are listed below which summarize how IT is helping business units understand and deploy SaaS- based solutions.

Customer Experience Management: As previously introduced, an organization’s focus on customer experience management is a cultural shift and should be considered a journey rather than a destination. This mindset is necessary because traditional ways of servicing the customer (which have been in place for years and sometimes decades) have well known limitations. Once an organization realizes that radical change is necessary for improvement, years of business processes and embedded systems need to be re-evaluated and updated, making this “journey” a multi-year endeavor. Having clear objectives which define a quality customer experience and are founded on a corporate strategy can help this cultural shift proliferate and come to life in more durable programs supported by the CIO.

Sharing Client Information: Because gathering client information is challenging (user reluctance to share information in general, privacy concerns, etc.) Web-based tools must gather as much customer information as possible whenever an interaction takes place. Understanding the links between the likely behaviors of a prospect or customer when they are tied to core IT systems (user login, past search inputs and past purchases, etc.) represent critical data for sales, marketing, and finance to dissect and share.

Simplifying and Sharing Analytical Information: For marketers, the IT department has become a key resource for defining, capturing and assessing customer data. In order to develop and use a meaningful customer database, overcoming past marketing practices that relied on separate data silos is crucial. Figure 9 on page 15 illustrates that on-demand sales, marketing and collaboration applications can now manage common data files and CIOs are taking a role in normalizing these files into custom views.


IT–SHIFTINGMARKETINGFROMARTTOSCIENCE


Figure 8: Where IT Supports SaaS Across the CRM Sector-Q Disciplines

An impressive leader in Analytics has

been Business Objects and its Crystal

Decisions on-demand solution. Business

Objects is visible as a partner not only

within the AppExchange ecosystem, but

as a WebEx Connect partner as well.

TripleTree expects Cognos and other

traditional BI competitors to become

similarly visible with BI tools that extend

onto mobile devices, empower better

reporting and influence database quality.


Service

Sales

MarketingExternal Communication

Account Preparation




Data Assessment

Planning and StrategyLead Management

Figure 9: Microdiscipline Cluster – Customer Data Quality

Customer and Product Analytics: With the reality that the Web has become a bona-fide business development tool, econometric models examining marketing variables over time (such as the length of a service contract or the likelihood of an up-sell) or between different variables at a point in time (such as customer click-throughs on one ad versus another) – are gaining ground. This is a good example of where BI vendors are beginning to offer SaaS-based analytical dashboards that can be equally useful to sales and marketing. Figure 10 shows micro-disciplines where the successful vendors in this arena will find the balance between analyzing a mountain of data and finding out which metrics are most relevant.

Figure 10: Microdiscipline Cluster – Inbound Data Analytics

Sales

Service

Marketing

Data Asssssment




Account Preparation

Lead Management








Channel Management




Mobile Sales







Sales Operations


Mgmt




Contact Center






Marketing


Service


Sales



Account Preparation


Data Assessment



Account Management










Forecasting





Technical Support




Data Quality

Detection









Web to Lead


Lead Management

CSR Unified Desktop





Marketing





Channel Management




Mobile Sales







Sales Operations


Mgmt




Contact Center






Marketing


Service


Sales



Account Preparation


Data Assessment



Account Management










Forecasting





Technical Support




Data Quality

Detection









Web to Lead


Lead Management

CSR Unified Desktop





Marketing



SIMULATION-DRIVENSALES FORECASTS

Aha!www.ahasoftware.com


Aha! is tackling the age-old goal of CRM

systems;helpingsalesmanagementgain

better pipeline visibility. By leveraging

simulations and analytical rigor, Aha! is

gaining traction within the SugarCRM

ecosystem as an on-demand solution

that can help executives understand the

risks and upside of a sales pipeline and

forecast.

KEYMETRIC:

Data-drivenforecastmodelingwillimprove

decisionmaking.

MARKETINGAUTOMATION—CAULKFORCUSTOMERFACINGAPPLICATIONS

Even though it has the fewest seats to deploy as measured in terms of a “typical” CRM project rollout, TripleTree predicts that SaaS-based marketing automation platforms will emerge as the logical hub for sales and service functionality and expects them to continue on an accelerated growth curve. Historically, enterprise application vendors have passed over the marketing automation component of CRM as an insignificant revenue opportunity. However, the broad reach of the marketing function has thrust it to the forefront as highly strategic. This reach is growing because of two factors: first, marketers are evolving their traditional role of planners to becoming more of a catalyst in facilitating action across the extended enterprise; and secondly, linking IT resources, data vendors, agencies, printers and other partners calls for enterprise-wide influence.

An example of how on-demand technology supports these roles is marketing automation. Linking finance and IT is complex and needs a coordinator because of the unique data requirements and accountability touching Web marketing, campaign planning, marketing spend management, marketing compliance, analytics and collaboration. In addition, marketing performance management is of growing importance as companies prioritize on the financial impacts of spend management, compliance, workflow management and marketing asset management. In marketing, stand alone SaaS solutions won’t be enough to satisfy market demand. Hybrid solutions where a SaaS tool is embedded into a professional services contract are appearing in areas like marketing data services, compliance and spend management.

As noted above, marketing’s reach inside and outside of an organization is broad and provides it with newfound leverage that is strategically relevant to the CEO and CFO in key disciplines of marketing, as depicted in Figure 11 on page 17.

Spend Management (Finance): The role of marketing is expanding beyond creative services and product management by embracing the myriad of analytics that measure program effectiveness. Enterprise marketing expenditures are massive with some industry estimates pegging spending at one trillion dollars annually. The desire to account for this spending coupled with new marketing channels and data sources (like Google Ad Words) is driving a stampede toward better marketing spend management. Given the disparate spending in organizations to manage promotions, channels, websites, call centers and other tools, a significant need for improved marketing spend management has evolved. An example of how marketing spend management is gaining awareness is represented by platform- enabled mash-ups. Last year, Salesforce.com acquired AppExchange partner Kieden, a SaaS firm whose application mash-up helped users better measure their marketing expenditures on Google Ad Words. It followed with a recently announced agreement with Google that takes the Kieden acquisition to a new level with Salesforce.com Group Edition, a more formal product partnership.

MARKETING AUTOMATION

Vtrenz,Inc.www.vtrenz.com


Vtrenz recognized that the Internet has

providedconsumersnewlevelsofcontrol

at all stages of the purchase process,

requiring a closer alignment of sales

andmarketing. And,while push andpull

marketing strategies are fluid processes,

competitive organizations are operating

“lean,” so automating many marketing

functions is critical. Planning, execution

and measurement are challenging

marketersinorganizationsofallsizes,and

with the advent of work-flow automation

and optimization tools as a critical link,

SaaS-based solutions like Vtrenz are

increasinglyrelevant.

KEYMETRIC:

Leverageaholisticapproachtomarketing

automationformaximumimpact.


Compliance (Finance/IT):The dual drivers of spend management and analytics are further linked by the interest of C-level executives to establish better accountability with marketing beyond financial performance to include regulatory compliance. The requirements for Sarbanes-Oxley and “Do Not Call List” regulations underpin the interest of nearly all organizations to view marketing automation platforms as critical tools in their overall business development arsenal, and the extensibility of SaaS solutions have carved out a growing role. TripleTree’s research has found that CMOs are becoming the key bridge between finance and sales on these tasks and is driving many traditional marketing functions to be automated, analyzed and/or potentially outsourced. An on-demand firm leveraging its focus on data compliance for the pharmaceuticals industry is Health Market Science.

Marketing Metadata (IT):A meaningful revenue opportunity exists for SaaS firms capable of adding value to the huge volumes of metadata being generated by today’s legacy IT systems. As marketing organizations process and analyze inbound customer inquiries, product information, brand collaboration, campaign analytics and Web interactions, the data about the data (or metadata) becomes very important. The complexities around extracting this information from data warehouses requires a good working relationship between the marketing department and IT. Business performance, patterns and trends and decision support are the results of how data can be queried, filtered, analyzed and displayed. SaaS tools for marketing metadata management are emerging, but as these tools and frameworks emerge the collaborative nature of SaaS and Web 2.0 will have marketers playing a larger role in how this information is synthesized and where value can be recognized.

MARKETING INFORMATIONCOMPLIANCE

HealthMarketSciencewww.healthmarketscience.com


Health Market Science (HMS) is an

information services company taking a

compliance-drivenapproachtohealthcare

data integration. HMS is focused on

helping clients be more effective with

their market data acquisition, storage,

matching, integration, and dissemination.

By embedding the HMS data search and

compliance technology into the sales

infrastructure of their clients, they’ve

becomeamissioncriticalresource.

KEYMETRIC:

Analyticalrigoradds“trustedresource”

tagtoSaaSplatforms.

Service

Sales

Marketing


External Communications

Lead Management

Account Preparation




Data Assessment

Figure 11: Microdiscipline Cluster – Marketing Data Management





Channel Management




Mobile Sales







Sales Operations


Mgmt




Contact Center






Marketing


Service


Sales



Account Preparation


Data Assessment



Account Management










Forecasting





Technical Support




Data Quality

Detection









Web to Lead


Lead Management

CSR Unified Desktop





Marketing



THECHANGINGROLEOFPROFESSIONALSERVICES

The proliferation of SaaS applications in CRM has given birth to a new breed of professional services firms. As the “family psychiatrist,” today’s small but nimble professional services firms are being asked to understand the needs of sales, marketing and service departments – and to make sure they get along with IT when solving pressing technology issues. The talent profiles and staffing models required to help organizations grow revenues and optimize customer satisfaction with both SaaS and licensed CRM solutions are considerable. Skillful CRM deployments are not simple, and complex domains like business intelligence and compliance require deep subject matter knowledge. This knowledge needs to be coupled with an understanding of the customer’s business, working templates for rapid implementation and an effective training plan. Add in the nuances of SaaS, Web 2.0 and the need to consider the inputs from an extended enterprise and the old school consulting mindset of the 1990s quickly fails. Two firms that embody a new approach to professional services are BlueWolf Group and Appirio.

As both of these firms know well, the economics of integrating a SaaS solution for clients who have historically invested in licensed software present some new realities. Project timelines, resource management needs, and hiring profiles are shifting. In addition, non-traditional competition from BPO firms and digital agencies are creating new dynamics for pursuing business that may focus as much on creative problem solving as they will on technical competence and cost savings. A few other examples are listed below: • Overall project investments are lower: With SaaS, organizations are

now spending only a fraction of what they did five years ago when deploying a licensed software solution.

• Reduced consul t ing fees : The reduced need fo r so f tware configuration and customization work calls for rapid proofs of concept that quickly turn into full-blown deployments.

• Rapid project timelines: The well-publicized success of SaaS has

• Specialists: Mid-market clients want and need “utility infielder”

PROFESSIONAL SERVICES

BlueWolfGroupwww.bluewolf.com


ThegrowingpopularityofSaaSdelivered

applications has changed the game for

professional services. Less and less,

consultants are asked to install, test,

and tunesoftware (tasks thatoncemade

up 50% of any application deployment

project). The focus is now on defining,

creating, customizing, and deploying

effective business processes through

the flexibility of on-demand applications.

Blue Wolf approaches SaaS with rapid

configurationsandbite-sizeddeployments

topofmind. If successcan’tbedefined

in90days(regardlessofclientsize)then

successcriterion is reassessedbyeither

desiredfunctionortargetedgroup.

KEYMETRIC:

Leverageanalyticsasa

differentiator.

consulting talent: a project manager, BA, database analyst and trainer – all rolled up in one. These clients also gravitate toward consultants who actually have “field” experience as former sales, marketing or service professionals. Even though the technical training curve for SaaS consultancies are flatter than those of a licensed software integrators, these “business-minded” profiles can still be challenging to find.

convinced buyers that a six to eight-week deployment timeline is the norm. While this might be realistic in some cases, rapidly integrating a SaaS solution (either sales, marketing or service) with order management, reporting or other back office functions requires specialized skills and an efficient project plan.


• An opportunity to develop IP: The lack of a high margin recurring revenue model has long been an issue for value creation with professional services firms. As SaaS-focused consulting firms work with clients, they are many times the first to identify opportunities for bolt-on applications. Depending on the talent level in a given firm, these applications can be sold independently or through partner ecosystem portals to create an incremental revenue stream and improved gross margins.

Outsourcing services is yet another area where SaaS-based solutions are positioned to grow beyond traditional “labor-based” solutions. Embedded SaaS technology is not only helping organizations continue to target cost reductions, but also to cast the focus on growth, profitability and an improved customer experience. BPO for sales, marketing and service is evident in many provider solution bundles, but the solution benefits of flexibility, cost containment, geographic leveraging and alleviating concerns over long term contracts (vendor lock-in) and rigid workflow rules are still at the top of the list and may tip executives to favor SaaS-enabled BPO. The most visible arena for a “data services” model of outsourcing to proliferate will support marketing disciplines.

• Data accuracy and opportunity scoring: With the amount of human

Figure 12: Microdiscipline Cluster – Successful Lead Conversions

MARKETING DATASERVICES

ReachForcewww.reachforce.com


ReachForce is unique because of their

focusonthecoreofdemandgeneration–

thedatauponwhichanoutreachprogram

isbuilt. ReachForceusesbothSaaSand

professional services to build campaigns

thatidentifyindividualsbasedonroles,not

just titles.Thisdramatically increasesthe

qualityofcontactsdeliveredbecausetitles

typicallyidentifyaroleonly1%ofthetime.

Thishybridapproachbuildsamorereliable

linkbetweenmarketingandsalesandasit

optimizesleadquality.

KEYMETRIC:

Alignprocessesandtechnologyfora

betterbusinessoutcome.


and financial resources dedicated to marketing, analytical solutions are being sought to help validate decision marking. BI vendors with SaaS-based analytical solutions can bridge the chasm of separate data silos and share contact center call notes with marketing as shown in Figure 12.


sSales

Service

Marketing

Lead Management

Account Preparation





Data Assessment




Channel Management




Mobile Sales







Sales Operations


Mgmt




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Marketing


Service


Sales



Account Preparation


Data Assessment



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Forecasting





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Detection









Web to Lead


Lead Management

CSR Unified Desktop





Marketing



de-silo, executives need to undergo the same transformation. The best professional services firms are often viewed as “trusted advisors” to IT departments. By working with sales, marketing and service executives to leverage information to build better products and more effectively manage the relationship between IT and the business units, they will increase their influence and cement better relationships. Other roles for SaaS professional services firms may include helping clients understand broader issues and events in a marketplace and simply educating the executive management at a prospect on the merits of an on-demand deployment. The market is changing faster than ever before and because professional services firms often have strong client intimacy, they are being seen on some levels as business technology advisors. Below is where TripleTree sees professional services firms addressing the changing market over the next several quarters.

2001 2003 2005 2007 2009

Cost Cutting &Client Retention

Ven

dor

Focu

s

Early Days of SaaS Analytics

“Wait and See” On Fallout From Vendor

ConsolidationMarketing

Automation Platforms

Focus on Customer Valueand Broader Analytical

Platforms

SaaS Clients Tasting Vendor Independence

HunkerDown

Best-InClass

Solutions

SaaSValidation

Leverageof

Convergence

CollaborativePlatformsEmerge

Internal Focus on Compliance


PROFESSIONAL SERVICES

Appiriowww.appirio.com


Appirioisdisruptingthe$600Bworldwide

IT services market by approaching

enterpriseclassorganizationswithaWeb

2.0,SaaS2.0andServices2.0mindset.

This mindset leverages the intersecting

trends of rapid innovation, lower cost

structures and an early competitive

advantage of the business web. Nimble

professionalservicesfirmslikeAppiriowho

collaboratewithclients,aligncloselywith

ecosystempartners anddeploy solutions

quicklyarebestpositionedforrevenueand

clientgrowth.

KEYMETRIC:

Keepitsimpleandinvolveusersearly

andoften.

• Executive education is required: Just as organizations have started to

Figure 13: Professional Services and the Changing SaaS Market


CONCLUSIONS

TripleTree has long stated that SaaS is the most significant disruption to the Technology sector in a generation. It represents a competitive threat to legacy vendors unlike anything they have previously encountered because of its ability to add massive scale and relevance to any global player – regardless of domain or industry. An overarching question for CRM is which delivery model will emerge as most relevant: SaaS, licensed software, outsourcing or a hybrid?

Cisco’s recent acquisition of WebEx represents a great example of where a network infrastructure giant followed a quiet cadence of social networking and content acquisitions with a bang. Now, Cisco has a tremendous content engine to ride on its networks and WebEx has become a much more formidable competitor for Microsoft. Last year’s investment by AmericanExpress in Rearden Commerce is another example of the growing importance of SaaS. If a primary goal of AmericanExpress is to help business customers manage mundane travel expenditures (expenditures that will be paid for via credit card), then Rearden represents the beginnings of a new platform. The list of examples is growing monthly and proves that the ways to influence customer experience are being redefined in real-time.

The reality for most SaaS firms is that being a discrete solution alone isn’t enough to drive value and that a strategic exit might be possible through a non-technology acquirer. Recent SaaS acquisitions by ADP (Employease) and Illinois Tool Works (ClickCommerce) helped the acquirers gain immediate traction in new markets. Associating a SaaS application to one or more ecosystems can prove functionality for new markets and as a result, can become valuable to new strategic suitors. Many domains and sectors are being completely reinvented as pure-play SaaS solutions and organizations with hybrid delivery models (SaaS and BPO) emerge. Below is a summary of other key points that were reviewed throughout this report.

Ecosystems: The need to provide specific business value will continue to drive the evolution of SaaS ecosystems. Platforms will emerge from these ecosystems where vertical industry expertise and critical business support functionality becomes embedded in the underlying architecture of a vendor solution. CRM platform decisions (both business and IT) will be driven by their ability to impact customer value.

Collaboration: Collaboration toolsets have become the critical link to capturing the exchange of information between organizations and their extended enterprise. Because most SaaS collaboration vendors are still emerging and offer only discrete functionality, the sector will consolidate quickly as point solutions won’t be viewed as viable long term solutions.


IT: As marketing moves from art to science, CIOs will increasingly take an active role in supporting the ways in which sales, marketing and service professionals access, share and analyze information to benefit the customer experience. Collaboration, workflow and content management are three factors driving IT into a resource/collaborator relationship with business units. SaaS vendors who understand this relationship and exploit the notion that business units and IT are enmeshed will be well served.

Marketing: Marketing automation represents one of most intriguing SaaS categories of all those tracked by TripleTree. Presently, there are only a few players delivering comprehensive offerings in what is otherwise a sector starving for a leader, and a buyer community that is accepting of on-demand delivery models. Spend management, compliance and analytical applications are three areas where SaaS vendors will make a meaningful impact.

Professional Services: Hiring business-minded consultants who can quickly relate to, assess, and recommend process and workflow changes for their clients will be in high demand. In addition, a strong understanding of how analytical applications can help CEOs make better decisions coupled with good relationships with key ecosystem vendors will earmark the leading consultancies.

Unleashing Value:The enterprise software sector will continue to consolidate for the near term and SaaS delivery models will be rewarded with valuation premiums above licensed software. However, the market is now seeing the beginnings of a squeeze on SaaS valuations which represent multiples on EBITDA as well as multiples on revenue. The more S-1 filings that get delayed or pulled and the more IPOs that trade sideways or down will reinforce the fact that acquisition may be the best path to liquidity for most SaaS vendors. As shown in Figure 14 on page 23, waiting even a couple of years to grow revenues may not necessarily bring a higher valuation as TripleTree predicts M&A multiples will decline and begin to resemble licensed software valuations.

Legacy industry leaders like SAP, Oracle, Microsoft and others are finally responding to on-demand pressures in CRM by building or acquiring competencies. In late 2005, these firms stopped refuting the success of the on-demand CRM category and began a concerted effort to enter the fray. TripleTree is convinced that CRM vendors who do not develop an on-demand offering in sales, marketing or service risk becoming marginalized. Finally, TripleTree believes organizations will soon acknowledge that Business Relationship Management may be a better characterization for the workflows and


TripleTree, LLC is a research based

investment bank serving growth

companies, sophisticated investors and

global acquirers. TripleTree conducts

proprietary industry research which

guides our work in M&A, growth

capital and financial advisory services.

Our value-based approach benefits

technology-enabled businesses in sectors

like healthcare, where delivery models are

converging; or where CEOs and investors

are in search of creative ways to disrupt

markets and unleash value.

TripleTree’s unique personality is shaped

by the experience of our principals,

who as business thinkers and builders

collaborate to identify strategic solutions

that maximize value for our clients in a

dynamic marketplace.

supporting technologies that can improve a customer’s experience, power the extended enterprise and stoke the fires of innovation.

As an investment bank and strategic advisor, TripleTree is committed to helping emerging companies understand how to take advantage of trends like those outlined in this report. We welcome the opportunity to learn more about your business and how we can help your team climb to the next plateau of market leadership.


SaaS 2.0

• Standard delivery model

• $50M+ in revenue

• 25%+ operating margins

• Steady growth (10-15%)

• Platform technologies; broad focus

Software as a Service

• Limited number of “pure” SaaS firms

• Average size $5-30M in revenue

• Typically operating at/near breakeven

• Discrete technologies; narrow focus

Tomorrow

$30 million

$5 million

7-12x EBITDA

$35-$60 million

Today

Revenue $10 million

EBITDA $1 million

Metric 3-6x revenue

Valuation $30-$60 million

Broad Buyer Landscape Limited Buyer Landscape

Today 3+ Years

Premium Valuation Metrics(based on revenue multiples)

Traditional Valuation Metrics(based on EBITDA multiples)

7-12x EBITDA

x

x

Figure 14: Potential Changes in SaaS Valuation Over Time


3-5x REVENUE

Date Target Buyer Description PricePrice /

Revenue Multiple

May-07 Digital Cement Pitney BowesPitney Bowes is focusing on "high growth" sectors within the marketing and

mail. This acquisition will help Pitney better manage communications with their customers.

$40.0 NA

May-07 Inforte Corp Business & Decision GroupThis acquisition grows Business & Decision's international business and strengthens its US, UK, India and German presence and capabilities while helping to improve their ability to acquire, develop, and retain customers.

$50.9 1.4x

May-07 eVergance Partners KANA Software

KANA will expand its professional services portfolio to meet growing demand for consulting and implementation services. eVergance Partners, LLC, a management consulting and systems integration firm offering end-to-end consulting services for CRM optimization, knowledge management, and

Web self-service deployments.

NA NA

Apr-07 Kefta Acxiom CorporationThis acquisition by Acxiom will build upon their platform of personalization for

sales, marketing and customer service and will help Axciom to better target and dynamically deliver relevant content to web users.

$9.0 2.6x

Apr-07 Arkona Inc. DealerTrack Holdings

This acquisition gives DealerTrack, a provider of on-demand software and data solutions for the automotive retail industry, increased functionality to provide an on-demand dealer management systems for automotive

dealerships

$58.9 4.6x

Feb-07 BeVocal Inc. Nuance CommunicationsThis acquisition expands Nuance's existing product portfolio with a solution set for mobile customer lifecycle management and a range of premium

services for the mobile consumer.$139.7 NA

Feb-07 RESPOND Group CDC CorporationThe acquisition will boost CDC's enterprise complaint and feedback management solutions offering and provide inroads to the financial services

vertical.NA NA

Feb-07 Touch Clarity Omniture

This acquisition expands the Omniture Online Business Optimization Platform and positions Omniture for further growth by way of increased automation and optimization. The acquisition is expected to give Omnitureexpanded market opportunities by providing new entry-point as well as cross-

sell opportunities.

$51.5 NA

Dec-06 KNOVA Consona Corporation (Formerly Made2Manage)

Gives Made2Manage a broadened, more powerful customer managementoffering based on the individual strengths of the KNOVA and Onyxapplications. M2M plans to leverage KNOVA’s existing application programming interfaces for CRM integration with Onyx’s leading Service-Oriented Architecture as they believe they can be quickly integrated using

Web services.

$47.0 1.4x

Dec-06 Accipiter Solutions Atlas This acquisition will give Atlas a broaded advertising campaign management

solution that will provide online media planning, buying and ad serving to enterprises. It also provides integration and software development services.

$30.3 NA

Dec-06 ClickShift WebTrends

The acquisition brings leading edge technology and deep industry expertise to WebTrends. Now WebTrends can offer customers a leading online marketing optimization solution. They now have a blend of deep online advertising expertise and innovative technology that solves fundamental

challenges facing marketers.

NA NA

Dec-06 Docucorp International Skywire Software

Skywire’s acquisition allows them to become one of the largest providers of software and services targeted to specific vertical industries. The new entity

will work to further its global reach and expand upon its 1,600 company client base.

$127.0 1.4x

Nov-06 First Notice Systems Innovation Group plc

The addition of FNS gives Innovation Group a strong foundation in North America. FNS uses a combination of call center outsourcing services and rules-based web technology to successfully connect insurance carriers, third-

party administrators and self-insureds with their customers.

$50.0 2.5x

Sep-07 Smart CRM Alliance TechnologiesThe transaction will help build out a stronger CRM offering that will include

Web-based sales force automation and customer relationship management software solutions.

$2.3 1.1x

Jun-06 Onyx Software Consona Corporation (Formerly Made2Manage)

The acquisition of Onyx further solidifies Made2Manage’s enterprise software and services offering. The addition of Onyx also provides a second platform for industry consolidation, and extends the geographic reach of our

direct distribution capabilities.

$92.0 1.6x

May-06 Dynamics Direct Alterian plcAlterian seeks to meet a critical marketing need: the integration of online and database marketing through the acquisition of Dynamics Direct, an email

and online marketing technology innovator.$4.3 3.3x

May-06 Salesnet RightNow TechnologiesThe acquisition will accelerate RightNow’s customer experience management development efforts by combining RightNow’s patented

knowledge foundation with Salesnet’s workflow engine. $9.0 NA

May-06 SSA Global Technologies Infor GlobalInfor continues its strategy to acquire and consolidate. This time it’s a major competitor. With the acquisition, Infor becomes third-largest enterprise

software firm in the industry.$1,610.0 2.2x

Mar-06 Veridiem SAS Institute Increases the functionality of its customer intelligence platform. NA NA

Mar-06 Sane Solutions UnicaThe acquisition bolsters Unica’s vision of becoming the first firm to deliver end-to-end, cross-channel marketing solutions. It also bolster’s its web

analytics and internet marketing offerings.$22.8 4.0x

Feb-06 DoubleClick Email Solutions Epsilon Interactive The acquisition by Alliance Data System’s Epsilon Interactive will create one of the largest e-mail service and marketing firms in its space. $90.0 2.2x

Median $50.0 2.2x


Revenue Multiple

May-07 Digital Cement Pitney BowesPitney Bowes is focusing on "high growth" sectors within the marketing and

mail. This acquisition will help Pitney better manage communications with their customers.

$40.0 NA


$50.9 1.4x


KANA will expand its professional services portfolio to meet growing demand for consulting and implementation services. eVergance Partners, LLC, a management consulting and systems integration firm offering end-to-end consulting services for CRM optimization, knowledge management, and

Web self-service deployments.

NA NA

Apr-07 Kefta Acxiom CorporationThis acquisition by Acxiom will build upon their platform of personalization for

sales, marketing and customer service and will help Axciom to better target and dynamically deliver relevant content to web users.

$9.0 2.6x


This acquisition gives DealerTrack, a provider of on-demand software and data solutions for the automotive retail industry, increased functionality to provide an on-demand dealer management systems for automotive

dealerships

$58.9 4.6x

Feb-07 BeVocal Inc. Nuance CommunicationsThis acquisition expands Nuance's existing product portfolio with a solution set for mobile customer lifecycle management and a range of premium

services for the mobile consumer.$139.7 NA

Feb-07 RESPOND Group CDC CorporationThe acquisition will boost CDC's enterprise complaint and feedback management solutions offering and provide inroads to the financial services

vertical.NA NA


This acquisition expands the Omniture Online Business Optimization Platform and positions Omniture for further growth by way of increased automation and optimization. The acquisition is expected to give Omnitureexpanded market opportunities by providing new entry-point as well as cross-

sell opportunities.

$51.5 NA


Gives Made2Manage a broadened, more powerful customer managementoffering based on the individual strengths of the KNOVA and Onyxapplications. M2M plans to leverage KNOVA’s existing application programming interfaces for CRM integration with Onyx’s leading Service-Oriented Architecture as they believe they can be quickly integrated using

Web services.

$47.0 1.4x

Dec-06 Accipiter Solutions Atlas This acquisition will give Atlas a broaded advertising campaign management

solution that will provide online media planning, buying and ad serving to enterprises. It also provides integration and software development services.

$30.3 NA


The acquisition brings leading edge technology and deep industry expertise to WebTrends. Now WebTrends can offer customers a leading online marketing optimization solution. They now have a blend of deep online advertising expertise and innovative technology that solves fundamental

challenges facing marketers.

NA NA


Skywire’s acquisition allows them to become one of the largest providers of software and services targeted to specific vertical industries. The new entity

will work to further its global reach and expand upon its 1,600 company client base.

$127.0 1.4x


The addition of FNS gives Innovation Group a strong foundation in North America. FNS uses a combination of call center outsourcing services and rules-based web technology to successfully connect insurance carriers, third-

party administrators and self-insureds with their customers.

$50.0 2.5x

Sep-07 Smart CRM Alliance TechnologiesThe transaction will help build out a stronger CRM offering that will include

Web-based sales force automation and customer relationship management software solutions.

$2.3 1.1x


The acquisition of Onyx further solidifies Made2Manage’s enterprise software and services offering. The addition of Onyx also provides a second platform for industry consolidation, and extends the geographic reach of our

direct distribution capabilities.

$92.0 1.6x

May-06 Dynamics Direct Alterian plcAlterian seeks to meet a critical marketing need: the integration of online and database marketing through the acquisition of Dynamics Direct, an email

and online marketing technology innovator.$4.3 3.3x

May-06 Salesnet RightNow TechnologiesThe acquisition will accelerate RightNow’s customer experience management development efforts by combining RightNow’s patented

knowledge foundation with Salesnet’s workflow engine. $9.0 NA

May-06 SSA Global Technologies Infor GlobalInfor continues its strategy to acquire and consolidate. This time it’s a major competitor. With the acquisition, Infor becomes third-largest enterprise

software firm in the industry.$1,610.0 2.2x


Mar-06 Sane Solutions UnicaThe acquisition bolsters Unica’s vision of becoming the first firm to deliver end-to-end, cross-channel marketing solutions. It also bolster’s its web

analytics and internet marketing offerings.$22.8 4.0x

Feb-06 DoubleClick Email Solutions Epsilon Interactive The acquisition by Alliance Data System’s Epsilon Interactive will create one of the largest e-mail service and marketing firms in its space. $90.0 2.2x

Median $50.0 2.2x


Revenue Multiple

May-07 Digital Cement Pitney BowesPitney Bowes is focusing on "high growth" sectors within the marketing and mail. This acquisition will help Pitney better manage communications with their customers.

$40.0 NA


$50.9 1.4x


KANA will expand its professional services portfolio to meet growing demand for consulting and implementation services. eVergance Partners, LLC, a management consulting and systems integration firm offering end-to-end consulting services for CRM optimization, knowledge management, and Web self - service deployments.

NA NA

Apr-07 Kefta Acxiom CorporationThis acquisition by Acxiom will build upon their platform of personalization for sales, marketing and customer service and will help Axciom to better target and dynamically deliver relevant content to web users.

$9.0 2.6x


This acquisition gives DealerTrack, a provider of on-demand software and data solutions for the automotive retail industry, increased functionality to provide an on-demand dealer management systems for automotive dealerships.

$58.9 4.6x

Feb-07 BeVocal Inc. Nuance CommunicationsThis acquisition expands Nuance's existing product portfolio with a solution set for mobile customer lifecycle management and a range of premium services for the mobile consumer.

$139.7 NA

Feb-07 RESPOND Group CDC CorporationThe acquisition will boost CDC's enterprise complaint and feedback management solutions offering and provide inroads to the financial

services vertical.NA NA


This acquisition expands the Omniture Online Business Optimization Platform and positions Omniture for further growth by way of increased automation and optimization. The acquisition is expected to give Omnitureexpanded market opportunities by providing new entry-point as well as cross-sell opportunities.

$51.5 NA


Gives Made2Manage a broadened, more powerful customer managementoffering based on the individual strengths of the KNOVA and Onyxapplications. M2M plans to leverage KNOVA’s existing application programming interfaces for CRM integration with Onyx’ s leading Service-Oriented Architecture as they believe they can be quickly integrated using Web services.

$47.0 1.4x

Dec-06 Accipiter Solutions Atlas This acquisition will give Atlas a broader advertising campaign management solution that will provide online media planning, buying and ad serving to enterprises. It also provides integration and software development services.

$30.3 NA


The acquisition brings leading edge technology and deep industry expertise to WebTrends. Now WebTrends can offer customers a leading online marketing optimization solution. They now have a blend of deep online advertising expertise and innovative technology that solves fundamental challenges facing marketers.

NA NA


Skywire’s acquisition allows them to become one of the largest providers of software and services targeted to specific vertical industries. The new entity will work to further its global reach and expand upon its 1,600 company client base.

$127.0 1.4x


The addition of FNS gives Innovation Group a strong foundation in North America. FNS uses a combination of call center outsourcing services and rules-based web technology to successfully connect insurance carriers, third-party administrators and self -insureds with their customers.

$50.0 2.5x

Sep-07 Smart CRM Alliance TechnologiesThe transaction will help build out a stronger CRM offering that will include Web-based sales force automation and customer relationship management software solutions.

$2.3 1.1x


The acquisition of Onyx further solidifies Made2Manage’s enterprise software and services offering. The addition of Onyx also provides a second platform for industry consolidation, and extends the geographic reach of direct distribution capabilities.

$92.0 1.6x

May-06 Dynamics Direct Alterian plcAlterian seeks to meet a critical marketing need: the integration of online and database marketing through the acquisition of Dynamics Direct, an email and online marketing technology innovator.

$4.3 3.3x

May-06 Salesnet RightNow TechnologiesThe acquisition will accelerate RightNow’s customer experience management development efforts by combining RightNow’s patented knowledge foundation with Salesnet’s workflow engine.

$9.0 NA

May-06 SSA Global Technologies Infor GlobalInfor continues its strategy to acquire and consolidate. This time it’s a major competitor. With the acquisition, Infor becomes third-largest enterprise software firm in the industry.

$1,610.0 2.2x


Mar-06 Sane Solutions UnicaThe acquisition bolsters Unica’s vision of becoming the first firm to deliver end-to-end, cross- channel marketing solutions. It also bolster’s its web analytics and internet marketing offerings.

$22.8 4.0x

Feb-06 DoubleClick Email Solutions Epsilon Interactive The acquisition by Alliance Data System’s Epsilon Interactive will create one of the largest e- mail service and marketing firms in its space. $90.0 2.2x

Median $50.0 2.2x

APPENDIX - Chart 1: M&A Overview for CRM Vendors (partial list)



APPENDIX - Chart 2: Venture Capital Investments and M&A Activity in CRM (Licensed and SaaS)

SALESIncludes CRM vendors offering solutions for: campaigns, email, delivery, data mining, warehousing, database, analytics, real-time information, business intelligence and reporting.

MARKETINGIncludes CRM vendors offering solutions for: leads, search tools, web forms, call scripting, scoring tools, proposals/quote generation, presence detection, configuration, web conferencing, contract management, workflow and approval.

SERVICEIncludes CRM vendors offering solutions for contact centers, support, service, collaboration, email response, email service and customer care.


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THETEAM

Kevin Green, Managing Partner• Co-founded TripleTree, LLC• 25+ years building and advising IT companies• Senior executive roles in public and private IT companies; two as CEO• Active with numerous industry associations, and Board of

Directors, including SIIA and Connextions• BA and MBA, University of San Diego

David Henderson,Managing Partner• Co-founded TripleTree, LLC• 22+ years in venture capital, business development and as a

senior operating executive• Seven years of public accounting experience at Arthur Andersen• CEO of a $400 million asset bank holding company• Active Board of Director on several public and private companies• BA, Moorhead State University; Certified Public Accountant

Scott Tudor, Partner• Joined TripleTree in 1998• Specializes in IT Outsourcing & Managed Services and Healthcare IT• Worked on more than 30 transactions with leading global companies

such as UnitedHealth Group and Hewlett Packard• Served as TripleTree’s research chairman• BA and JD, University of Illinois; MBA, Carlson School

of Management, University of Minnesota

Chris Hoffmann, Senior Principal/Research Director, Technology• Joined TripleTree in 2005• 19+ years of experience an operating executive, consultant, and analyst in

the technology industry• Transaction activity focus in the areas of software and technology• Former President of Tier1 Research; executive positions at Gartner,

GE Capital Consulting and IBM Global Services• BA, University of Minnesota-Duluth; advanced studies through

the University of Minnesota and Michigan State University

Brian Klemenhagen, Senior Principal• Joined TripleTree in 1999 with over ten years of combined investment

banking and Wall Street equity research experience• Primary engagement manager across technology, software and

outsourcing sectors• Principal contributor to TripleTree’s SaaS research• Prior to joining TripleTree was with RBC Dain Rauscher• BA, Gustavus Adolphus College; MBA, Carlson School of Management,

University of Minnesota


MINNEAPOLIS952.253.5300WWW.TRIPLE-TREEE.COMSANDIEGO858.792.3406MINNEAPOLIS952.253.5300WWW.TRIPLE-TREEE.COMSANDIEGO858.792.3406MINNEAPOLIS952.253.5300SANDIEGO858.792.3406WWW.TRIPLE-TREE.COM Q32007CRMCONVERGENCEPAGE27

THETEAM

Peter Erickson, Senior Principal• Joined TripleTree in 1998• Transaction focus on consumer health, human capital management

and business services• Sell-side M&A and capital growth client representation across software

and services domains• Prior to joining TripleTree, managed international development

programs through the National Forum Foundation in Washington, DC.• BA, DePauw University; MBA, Carlson School of Management,

University of Minnesota

Scott Donahue, Principal• 15+ years financial strategy analysis and business development consultation

including marketing, operations support, and technical product development• Expertise in IT operations and services delivery approaches• Wall Street experience• Served in management roles at leading IT firms• BA, University of California - Santa Barbara; MBA, University of Michigan

Scott Prentice, Associate• Focus on M&A and private placement activity in the technology sector.• Previously worked on M&A activity at Ingenix, a division of

UnitedHealth Group• Prior experience included technology capital investment at Target

Corporation and as an IT consultant with Computer Science Corporation• BA, Bethel College; MBA, Carlson School of Management, University

of Minnesota

Michael Boardman, Analyst• Specializes in research and analysis of industry trends and investment

opportunities within Software and IT Services• Prior experience includes an internship with Merrill Lynch• Held a Cisco Certified Networking Associate Degree (CCNA)• BA, Carlson School of Management, University of Minnesota

Jeff Kaplan, Senior Advisor• Advises TripleTree’s technology team• Founder and Managing Director of THINKstrategies• Founder of the Software as a Service (SaaS) Showplace® and Managed

Service Showplace®• Founding member of the SIIA SaaS Executive Council• Frequent speaker at industry events and contributing columnist for

BusinessWeek, Mass High Tech Journal, Financial Times of London, and Network World, among many other industry leading publications

For a complete list and profiles of

the TripleTree team, please visit our

website at www.triple-tree.com

About TripleTree

TripleTree, LLC is a research-based investment bank serving growth companies, investors

and global acquirers. TripleTree conducts proprietary research that guides our work in M&A,

growth capital and financial advisory services. Our value-based approach benefits technology-

enabled businesses in sectors like healthcare, where technology and services are converging

in new delivery models and in other industries where management and investors are in search

of creative ways to penetrate and dominate markets and build value.

TripleTree’s unique personality is shaped by the experience of our principals, who as former

business builders and transaction advisors create strategic outcomes that maximize value for

our clients.

For further information, visit our website at: www.triple-tree.com

Copyright © 2007 by TripleTree, LLC

Minneapolis San diego

t 952-253-5300 t 858.792.3406f 952-253-5301 f 858.792.3407

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