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  "documentTitle": "BMC Software (BMC)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott Management",
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  "presentationDate": "2012-05-31 00:00:00",
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  "notes": "Uses a chronological sequence of quotes to demonstrate management's denial and subsequent admission of failure regarding SaaS.",
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      "text": "BMC has been slow to adapt to changes in the market place, including a well-publicized failure to quickly identify trends in SaaS solutions and cloud management",
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      "kind": "chart",
      "text": "WHAT MIGHT HAVE BEEN - ServiceNow REVENUE TRAJECTORY",
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      "text": "Market entrants like Service-Now (launched in 2004) and Solar Winds (launched in 1999) saw the opportunity in the marketplace\nBMC was late, launching Remedy OnDemand and RemedyForce in 2010, which only generated $10mm of revenues in FY2012",
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      "text": "\"We were then late, unfortunately, as you well know, to the SaaS market...\" - Bob Beauchamp (Q4 2012)",
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      "text": "\"It's not all going to be Software as a Service, I've met no CIOs who think that\" — Bob Beauchamp (2007, Interview with The Australian); \"SaaS initiative includes our new BMC Remedy OnDemand Solution, which provides customers with a full industry leading service management offering delivered as a service\" — Bob Beauchamp (Q4 2010 Earnings Conference Call); \"We were then late, unfortunately, as you well know, to the SaaS market. So when it turned to SaaS, we didn't have a great answer at the same time\" — Bob Beauchamp (Q4 2012 Earnings Conference Call)",
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