For those who have temporarily forgotten about the front office software industry ... :)
Imagine my surprise when I saw this press release from the CEO of Onyx Software (ONYX) pushed across my monitor: "We are now the #3 independent CRM vendor by revenue behind Siebel and Clarify."
Hmmm. That statement doesn't even pass the laugh test. The most recent data at WSRN shows their 12-month revenue at $35 million. That's far, far away from being #3 in revenue. To put it in perspective, Siebel had $95 million in earnings.
But there's more.
"However, in recent head to head competition, we won 31 of 41 deals," said Frei. "Most of the wins were against Siebel."
That's not a surprise if Onyx is competing with Siebel in the smaller deals as I suspect they are. Siebel's strength is in the larger deals but they are getting incremental business in the smaller transactions. On the other hand, the CEO's comment about revenue is so easily refuted that it makes me wonder how credible his statement about head-to-head competition is.
Yet another "fact" in the press release:
"Onyx's average deal size of $260,000 and more than 500 customers isn't far from Siebel's $450,000 and 620 customers," he added.
I can't find the information that refutes that, but if I remember correctly Siebel's average deal size is $750,000, not $450,000. If that's the case, I'd say that Onyx's average deal size is about one-third the size of Siebel's and is indeed far from Siebel's.
--Mike Buckley |
