Mandy Dhaliwal, Boomi & Samantha Choi Cadley, Manual Labor Studio | Boomi World 2019
>>Live from Washington, D C it's the cube covering Boomi world 19 how to buy bullying. >>Welcome back to the cube Lisa Martin with John furrier. We are wrapping up two days of Boomi world 19 and I think boom is a really good word to set up. Our final segment of the show, John and I are pleased to be joined by a couple of guests. To my right is Sam choy cadley, the founder and CEO of manual labor. Sam, welcome to the cube. Thank you. Happy to be here. And one of our distinguished alumni, we have Mandy Dolly while the CMO of Boomi. Mandy, first of all, congratulations on an awesome event. This was our area here in the expo center was buzzing nonstop the last few days. We've heard from your C-suite, we've heard from partners, from customers, the Boomi fandom, as I said to you yesterday is legit, too legit to quit, but one of the cool things is that you have a new brand identity that we really want to kind of dig into because it wasn't in your face. >>It was really celebrate very strong. So talk to us about that. And then we'll get into what Sam helped you create. Absolutely. That was one of the most exciting aspects of the show, frankly, and we deliberately decided that we were going to show, not tell because we wanted to anchor the community. We wanted to anchor our customers and partners in the new Boomi. We're on a growth trajectory. Right. That's not a secret anymore. We're no longer a secret. When they brought me in, my goal was to make us a household name. We're well on our way. First thing we had to do was go refresh the look and feel to really get us to a point where we could start to connect with the Mark market in a modern way. We're a modern mill middleware platform where as John likes to say, cloud to Datto company, which I love. >>I've adopted. Thank you, and we also went to the oil card baseball game. The Washington nationals versus the walking brewers, which was dramatic, were down close. We were wearing the Boomi shirts with, I think we're the first ones out in the wild. Yes, you were five of us blue with the white letters and a sea of red. People love the shirt. They loved the look. They love the brand. So it worked. It did bottle compliments. It did. They loved it. Great to hear you're the genius behind this. Give us the motivation. Where'd it come from? What was the design principles, boys, you're thinking? Sure. Ah, you know, it's funny, it started with just a very casual conversation with Mandy. You know, when we start our work, we always ask about the brand itself and we try and personify it so that we get a true understanding of who or what the brand would be. >>And so we asked Mandy, you know, if you can explain the personality of Boomi two or three. Dot. Oh, how would you describe the personality and quit just as quickly. She came up with two words and she said bad-ass and swagger. And so that told us, right, because it's, it's a lot about, as Boomi evolves, you know, they have so much to be proud of. There's so much innovation and solutions that they're providing. It was like you don't need to overcomplicate the identity itself because the work and what you do is go into speak for it. And so we immediately thought about the different iterations and what the logo itself can look like. Because when you think about a logo, it's more than just an image or what it looks like. It's typically the first impression that people have. And and a lot of times you want to try and describe what you do or who you are through something that's visual. >>And so when you have swagger, when you were a bad ass, you don't have to overcomplicate what you're doing or saying. So we wanted to focus just on the name itself, especially as we're taking this new step of dropping the Dell name. You know, what is, how memorable can we make the Boomi name look? So taking this idea of badass and swagger, we also injected a lot of the key benefits. So you heard a lot about the up into the right. And so that's where if you look at the top of the B, which is called the Ascender, there is that beautiful angle. And so that's there. Our goal of staying in the upper right corner and you know there's a very specific degree so it's 30 degrees of, of that angle. And so 45 felt too in a lot of ways, like too harsh 30 felt like it was something that was achievable and attainable and you can stay up there. And so that's sort of why that you'll see that 30 degree not only in the logo but in a lot of their designs. Even the direction of the sprites. There's continuity and repetitiveness in that. And so hopefully people will start looking at that angle and the shapes and you'll recognize Boomi for it. >>Oh sure. The sales guys, man, you're going to take that shape and turn it into straight up cause they aspirational, want to get more sales, a hundred percent growth. But it's a little things though. Those are the little things. And also the eye has got the dot on there. Talk about that. That seems to be a D ingredient Mark that pops around and other places is what, what's going on with the eye. >>So a lot of, um, the equity that Boomi has in the, at Adam's sphere was really important and it was something that we wanted to carry through what we asked ourselves and the manual labor team was if we deconstructed the alum, how can we bring it back and introduce it in a new fresh way? And so we literally deconstructed it and came back with what is sort of the nucleus changing with a pop of color, let's it sort of shine bright. Um, and we talked a lot about the different meanings as it's a contrast and color that almost looks like a light, but it's also this sort of beacon. You know, when we think about the growth of Boomi burrs and the importance of the community sort of all coming together and lighting up all of what Boomi is and how continues to be successful. >>So the two words, I love bandy that you chose, that you wanted Boomie's brand to become badass and swagger. Sam, I'd love to get your opinions on the, the first logo that you saw that Mandy says, we want to revolutionize us. The. What was your, what were the two words that you would use to describe it? I'm just curious how your mind works and sees that and goes wow. Simple one I think about the animal was very scientific and it was very technical and I think that that speaks so much to all the solution and how in depth they go with both their products and the solutions. And so it was very obvious and it was very clear and I think it communicated really well as we looked to sort of modernize the brand and also sort of bring a new generation of developers and, and customers along. >>This was a great way for us to sort of re-introduce it. And then there's even other elements like we are, we call it the macro Adam, but you'll see there's, there's a coral and then it almost looks like there's rings around it. And it was our way of showing the energy behind the team. Um, Adam's fear the community. And so it almost vibrates if you look at it, especially against the Navy. And that was our way of sort of bringing in the life and the Adam at work. Mandy, you're beaming. This is so cool. It's very, first of all I'm like, this is data-driven. That is so incredible. All of the thoughts that went into designing this, I think this exceeded looking at her face and does bars. I'm so proud. And this partnership has been incredible. Has exceeded your expectations. I mean just going through this process of it's not just about changing a logo. No, not at all. It is not at all. This is incredibly strategic to our future. Right? Right. This is more than colors and fonts. >>So you guys are also wearing the buttons that had the B for bad-ass, but the dot. I noticed that boom, bad ass boom. Um, you know, we hear a lot and there's lots of the conversational AI thing. Just to kind of weave in some topic, I want to get your reaction is that data's should be a living thing. So you know, the classic brand consciousness, the brand should be a living thing. Sam, should it grow and nurture the brand >>we do. We say that a lot. I mean, because where's the vision going? I mean in a lot of ways a brand is a promise to the people that support it, right? It, we, Boomi can say we're, this is our brand, this is our meeting, this is everything. But if, if they don't fulfill that promise and if the community and the members and the customers and partners don't embrace that, it's just like you're standing in the woods by yourself, it will. The trust isn't there. Exactly. And so that's why we talk. We always say you have to nurture it. You have to keep it as alive in three years, five years as it is today during Boomi world. So how many different iterations did you go through? Like different, Oh, we're white. We're going to go there. There were nine 10 that we paired. We w met multiple conversations across the organization. >>This was not done an event? No, not at. We shared across broadly, I'm not a secret keeper and a even within the company, this was obviously internal confidential, but we were bringing people in to a to get opinion and make sure that there were shared ownership. What was the original response to Mandy when you came in to Boomi saying we, I mean, I imagine that's part of why they brought you in. Was it just yes time? Yes. Can you please hurry up? But some people can be really passionately tied. It's like when you're selling a house to someone doesn't like good wrestler, right? Let it go. Right, but that's hard to do. Especially if somebody has been around long time and they've nurtured this and they put so much heart and soul into it. But this sounded like they were receptive. Knowing that we need to evolve as our customers are evolving and as our technology is evolving. >>Well, here's the backstory on the former logo, Chris port, our COO who you've met and spoken to when he ran the acquisition of Boomi way back when is when he decided in PowerPoint probably, sorry Chris, to put a Dell logo, which no longer a really actually is no longer even follows Dell technologies branding guidelines and a Boomi font together. And that was how Dell Boomi logo was born. So it was put into place and we ran with it and nobody questioned it. We were too busy building and iPads business and so income's Mandy and says, here, we're going to go do this and really up our game in the market. And one thing we should know, John mentioned brand representation at the national scan the other night. There was a a Boomi store right over by our sat here that's been full. Every time I've gone over there, and I don't know what this gentleman was trying to buy yesterday, but whatever it is, you guys were already sold out of it. >>So this has been a suddenly, well there's a revenue source over here, but people want to embrace this. The proud customers, vendors, partners, they're proud to wear this brand. It's been the parent that we've seen and just in two and a half days has been really interesting. Well that's part number two. That's the Boomi verse. You're seeing them in action, right? They're wearing it loud and proud. Yeah. Right there. They're tremendously proud of the accomplishments and the business that we're driving for them. We partner with our customers. Right. And that's, that's the manifestation of, of what's happening. >>Well, Sam, congratulations to you and the team, Mandy. It takes courage to take a branding challenge like this in a big company. Certainly Dell's involved the other mothership, so he works very closely with Dell technologies as well. Congratulations. We have a Dell technologies bad-ass and swagger. Also the cubes here. We're bringing them bad ass sweater as well. Brand alignment. Good job. Different logos saying congratulations. Thank >>you Sam. We have, I have to before we go, we have to understand the name of your company is a very intriguing manual labor, which a lot of Boomi solves, you know, aims to solve in terms of automation about the name of Iranian will labor. Exactly as in irony. Um, so we, I am a family of immigrants. We moved over when I was four. My mom was one obsessed as Jackie Onassis and, and America and, and my dad, um, was a teacher in Korea, so when I was four, and I have two older sisters who are seven and nine. And she decided she wanted all of us to grow up here. And um, so we moved to America. And it's funny, I was, I think I survived on brands alone because it was, she wanted us to be immerse into everything. American culture. So it was chef Boyardee wonder bread. >>I mean literally it was only American, like iconic brands. But fast forward to that, we got here and none of us spoke English. And so my dad and did whatever work he had to, to support us. And so it was literal manual labor. It was washing dishes, it was, you know, working in a stock room, just, you know, doing whatever work he needed to do to support us. And so that's where the name manual labor comes from. It's an homage to my parents who did everything they needed to do, um, to support us, to give us the opportunity to be educated here and everything, all the benefits of it. Um, and then also just in that, we learned a lot around about just rolling up your sleeves and doing the work. Um, being proud of the work you do, whether you are a teacher or a dishwasher, um, immigrant or someone who grew up here. >>It was more about just owning that pride, um, doing what you need to do to, to be successful. So, wow, what a great backstory and a wonderful tribute to your past and your family and congratulations on what you've done for Boomi. Thank you Andy. A continued. Congratulations. I'll echo what John said. This is really been out. I can't wait for next year. Gosh, but it's really been an awesome event. We've had just had nothing but positivity from customers, partners, your execs, everybody there. You have even more fans than when you walked in here two and a half days ago. So thank you for spending two days with us. This has been incredible. Awesome. We'd love it. Learned a ton. All right. Well, we promised you a chatty conversation. I hope we delivered for John furrier. I'm Lisa Martin. You've been watching the cube from Boomi world 19 thanks for watching.
SUMMARY :
Live from Washington, D C it's the cube covering from customers, the Boomi fandom, as I said to you yesterday is legit, And then we'll get into what Sam helped it so that we get a true understanding of who or what the brand would be. And so we asked Mandy, you know, if you can explain the personality of Boomi And so when you have swagger, when you were a bad ass, you don't have to overcomplicate what you're doing or And also the eye has got the dot on there. And so we literally So the two words, I love bandy that you chose, that you wanted Boomie's brand to And it was our way of showing the energy behind So you know, the classic brand consciousness, the brand should be a And so that's why we talk. when you came in to Boomi saying we, I mean, I imagine that's part of why they brought you in. it was put into place and we ran with it and nobody questioned it. And that's, that's the manifestation of, of what's happening. Well, Sam, congratulations to you and the team, Mandy. And um, so we moved to America. Um, being proud of the work you do, whether you are a teacher or a dishwasher, It was more about just owning that pride, um, doing what you need to do
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Jason Maynard, Oracle Netsuite | Boomi World 2019
>>Live from Washington, D C it's the cube covering Boomi world 19 how to bide booming. >>Welcome to the cube at Lisa Martin at Boomi world 19 in Washington DC and with John furrier and John and I are pleased to welcome to the cube Jason Maynard, the SVP of global field operations from NetSuite. Jason, welcome. Thanks for having me. It's great to be in D C and on the cube. It is. We were just talking about baseball, so we'll have to park that for a second and talk about some other sexy stuff besides baseball, ERP. So nets we, I saw you on stage this morning. You guys have been a partner of the first Alliance partner with Boomi for about 12 years. Thousands of joint customers. candy.com is one of them. Yep. They're going to be on later today. So I'm excited to have my afternoon sugar rush. Make sure he brings a big bag. You got it. So talk to us about you guys. We're also, I noticed Boomie's 2019 Alliance partner of the year. Lots of innovations going on. Give our audience a little bit of an overview of what NetSuite is doing with Boomi. >>Great. So Boomi is, has been one of our longest partners. I said I think we, we first inked the partnership in 2007 so it goes back 12, 13 years. Um, we, we, when we sell ERP, you always end up having to connect to a legacy on prem system, right? Or you may have to connect to new marketplaces to sell and so there's always need for integration. And so from day one, Boomi wanted to really kind of push the envelope work with cloud players. You know, when we started NetSuite 20 years ago, it was kinda crazy to put business applications on the internet and they'd been there from day one with us really on this journey. And so they've been a great partner to sort of help all those customers migrate and move their business to the cloud. >> You guys had success with Boomi on the customer front. >>Can you unpack that a little bit? Because the customer equation around data is interesting. You guys have turned this into an opportunity with nets. We talk about how that works. Yeah, I mean look EV every customer needs to get more insight out of their data. And you know, the ERP system is one of the major hubs in any organization, right? You've got a handful of system of records, right? And core financials is one of the main systems of record and inevitably every customer will have probably 1520 legacy data sources, right? That are going to be necessary for an ERP. And so for us, working with Boomi across not just the U S but across the globe with a lot of different international customers, it's a natural fit because we're not obviously going to be connecting with all of the systems that they're touching today. It brings a lot more value of data into NetSuite, which obviously then helps our customer out. >>So you guys were at, you said an early partner of Boomi back in 2007 when they were founded. We got to speak with Rick Nucci yesterday. So one of the interesting things that we talk about, and John even pointed out yesterday is you know, they took a big bet, Boomi dead way back then with building this architecture that's pretty unique to this day. This single instance, multi-tenant cloud application. Take us back to, because obviously NetSuite's been around longer, you a lot of choice, there are more iPods vendors out there. What is it about the way that Boomi is architected that is enabling your customers to achieve so much success but also really that you buy saw back in Oh seven I think this is something that's going to be a real big opportunity for NetSuite. >>You know, it's, it's, it's been an interesting ride because if you go back even to Oh seven and didn't even maybe eight or nine years ago, it was not a foregone conclusion with a lot of technology vendors that the world was going to shift to the cloud. Yeah, right. There were a lot of server huggers out there. There still are. They still want to hug this, they still want to hug the machine. Right. And so it's important, I think that we work with partners who have the same true North in terms of where we think that the technology is going. And I think that alignment, which is, you know, we're 100% in the cloud, always have been, always will be. Boomi shared that vision early on. So it was easier to make a bet then right, with a vendor who was going to have that commitment. >>And so that's been, to their credit, the vision that they've had for obviously years now. And I think that's what's helped them grow so quickly. And one of the things that you observed obviously is that the customers have choices, but the world software's changing, right? I mean cloud has changed the software development life cycle. I mean just in the past decade alone, the business of change, you still going to have the system of records. Okay. But with containers and Kubernetes and some of these cloud native opportunities, there's more flexibility in how people are deploying legacy and or core apps. Yeah. So they're not getting thrown away as everyone had predicted. So, I mean, there was some funded saying, well, everyone's going to move to the cloud and not really. Yeah, well I look at it, it's a good point because there's no packaged applications. They're not the entirety of the application market as you know. >>Right? Custom application development will never go away. You will always have, you know, things that are custom. People build apps on NetSuite, right? Things that are very close to ERP you'll build on the NetSuite platform. But there are things that are not, you know, native to our platform that need to connect to NetSuite. And there are customers that we share who are, have legacy COBOL applications for example. Right? And they may need to put a wrapper around that and get certain forms into NetSuite. So it really does run the gamut. And so it'll never be one thing, right? We just sort of, in the technology industry, we never go from, you know, 100 to zero in terms of what's deployed in the legacy. We sort of layer in compost technology. And I think that's what's happening. And so, you know, we'll replace certain systems. We go in and we pretty much always replace a an on prem system but there are a lot of on-prem technologies that a will never, never go away. >> I was digging around about Boomi and you guys net suite looking at some of the use cases. One thing that caught my eye was, you know, the growth startup for instance, might be born in the cloud. Yup. Never have an it department. Um, they have kind of a um, hacked together system of record at HR and ERP kind of things, but at some point they've got to grow and they hit a growth spurt and they just become rapid growth. Eventually goes public. You guys have had good success with Boomi in these kinds of startups. It's pretty normal. You've seen this before. Can you talk about that dynamic because at some point people got to start establishing formal, is this the systems applications? You're gonna need payroll, you're gonna need HR. I mean this is blocking and tackling. You guys have been successful there. >> Well, you know, we, we like to think about we can be the first system that you'll ever need and hopefully we'll be the last system that you'll ever need. Right? And what ends up happening is we've architected NetSuite to let you start small and then add more functionality as you grow. So you may start with just basic financials. You may add order management, move into full fledged ERP, maybe you're going to use our HR system down the road. And so we kind of, we kind of stairway a customer through their journey. Boomi does the same thing. Maybe you start with two connectors, right? You're just connecting two basic applications and, and that's sweet. And then you evolve into something more sophisticated, right? Where as you saw today and some of the technology demos where, you know, they're tapping into all sorts of different systems that are not even ERP or CRM, it's, you know, IOT and just all sorts of different insights that they can bring from the different technologies. >>Better together message is legit and this works. Yeah. You know, we look at, technology is all about coopertition these days, right? Is every vendor, right? In some way we overlap, you know, Boomie's owned by Dell, NetSuite's owned by Oracle, right? We're, we're all sort of inner inner locked in one way or another. But ultimately we have to work together because we share so many customers and so customers don't have the patience and nor should they for any of the sort of the, the vendor warfare. And I think that's the cool thing that's evolved with technology standards. It's easy for us to work together and we have to do it and we want to do it because it's what's the right thing for the customer. >>Let's talk about net suite as a launching pad for a lot of tech IPOs in the last few years. Give us your perspectives on what you guys started to recognize as a lot of these tech companies have kind of, that's why it just seems to me like net suite has been this sort of launchpad for that. Talk to us about what you've achieved there. >>Yeah, no, it's, we're, we're really humbled by the fact that more companies go, Poe tech companies go public on NetSuite than frankly you need any other ERP system. Um, you know, we help invent the industry. Early on, 20 years ago, Evan Goldberg and Larry had the famous four minute phone call to, you know, kind of crazily idea to put business apps on the web. Um, and so we've been, you know, at the forefront of this, but it's not just technology. It's, you know, we, we're a subscription business right from day one. Like we didn't sell a license with maintenance. We sold a subscription. So I think a lot of customers look at us and say, okay, they've been through the journey that we have. You know, we went public 12 years ago, you know, we past $1 billion in sales, you know, we got acquired. So the journey that we've been on, most of our customers are going to be on that journey in one form or another. >>We're going to, we've made acquisitions. Our customers make acquisitions, right? So we tried it and this was sort of the genius of what Evan and the team built is a system that can handle any business model. So whether you're selling time as a service, whether you're selling time or you're selling a subscription, you're selling a widget, maybe you're going to sell a widget as a service in the future. We can kind of handle any of the business models and most of the IPS are innovative companies that innovate not just with what they sell, but in how they sell it. >> Show about some stories from the field that you've seen out there. Anecdotally, share some turn situation. What are customers going through right now? Enterprises as they go through their journeys, they realize cloud's there. They got some stuff on premise is going to keep there. >>There's obviously certain reasons you're gonna run payroll in the cloud. You're going to have to have multitenancy is allows it news cases and clouds, not that straightforward. When you start thinking about having an enterprise and the hybrid mode of operations, what are some of the customers feeling? What's a, what's the mindset? What's their architecture look like? What are some of the examples? Can you share? Yeah. You know, I'd say three things come to mind. So first off, it's this business model innovation, right? The, the on prem systems tend to lock you into a model, right? And there's nothing, and when they were built, they were innovative 1520, 30 years ago. Most companies, business models have outgrown that legacy system. So they need to move off that to enable some new thing that they want to do. So that's a big driver. I think the other thing is, is globalization is here to stay. >>Um, you know, whether you're in the United States or you're in the UK or you're in Asia, right? We're one interconnected global economy. And so you may, you know, source from Asia, you may design in California, you may do nearshore assembly in Mexico and then you do omni-channel distribution. So you have to be global. And I would say the thing that's changed in the last 10 years is companies are being global from day one. It's not just something you add on five, seven, eight years down the road. You see companies designed for being global. And that I think those two things, business model, innovation global are our big catalyst right now. I mean we had, Oh one more thing real quick. So we have a Cuba alumni set on the cube data's the new software. Yeah. So if you've got a global business, data's critical as the data needs to be acted upon, you've got policy, you got regulations, regulatory issues, personal privacy stuff, company policy. >>As you have this global layer of data, making it available, addressable across multiple systems is a huge task. What's your view on that? Well it's, it's, it's an interesting question cause we think of it and kind of three pillars. It's we give you visibility, we give you control and then we give you the agility, right? So you've got to, first off, you've got to have visibility into the data, right? You need to know what's happening. Like how much did we sell in the Australian subsidiary yesterday, right? You need to have controls. If your CFO, you need to have global financial controls. You may have sold a lot in Australia. You've got to make sure you're spending too much. Right? How do you manage that? And then ultimately the agility is how do you make a decision on that? Right. And so that's those three things I think all play into it. >>And how does the consumerization effect impact it? Visibility, control, agility. Because as consumers we have this expectation whether you know in our personal lives we can get anything that we want within a couple of clicks. So when you're talking to a tech, whether it's a young tech company or even not a tech company like candy.com which is seems like a mixture. You and I were talking before of a number of different industries, all, all in one. How does, has NetSuite evolved to enable that consumer to go from their personal life to being able to interact with ERP next, struck the value from it in the ways that they want? Anywhere, anytime. >>Let's, let's be honest, for a second, ERP kinda got a dirty reputation. You know, in the nineties nobody loved their ERP implementations. Books had been written on this, right? ERP was like, it was like going like a bad trip to the dentist office in the 90s and that was sort of the catalyst for our company. But that's not enough just to be in the cloud. It's you have to make your user experience consumer grade, right? We always talk about enterprise grade. It's all the, reliability, scalability, all that kind of stuff. That's sort of a given, like you have to do that, but I think you have to, you have to adopt the consumer grade. So we spent a lot of time and we're doing a lot more and we're going to be rolling out some new stuff around user interface and just how easy is it to have a dashboard on your phone so that you can run your business from your smartphone versus actually having to be tethered to the desktop because we're all mobile, we're all traveling. You're a business owner, you're a CFO, you're CEO. You need to be connected. Maybe you're too connected. Maybe that's part, maybe we have screen-time problems. We do business. If we, if we can give our customers Screentime addiction to watch their business in real time, I guess that's a good thing. Right? And so we want to be able to make sure that they can have all that insight at their fingertips, whether they're in the office or at the beach. >>And speaking of insight, talk to us about brain yard. What that is, why you developed it and what it's enabling. >>Yeah. Thank you. That's like my, I was hoping you were gonna ask me. It's my secret, but not so secret anymore. Pet project. So one of the things being in the cloud, we have 18,000 customers, right? We have a single instance of NetSuite and so we've had the unique seat at the table to see all of these different companies grow in all these different industries. We evolved into selling by industry. So we have a retail version of software version of manufacturing, nonprofit, 1213 different industries. What we had in that is we had all these insights by industry. What is the right DSO number for a software company, right? What is the thing that a nonprofit needs to look at? And so we had trapped inside of NetSuite, all these brains sitting in all this information and PowerPoint and word docs and just everywhere. And so we decided to crack the hood open and literally open source that information and put it on the website. >>And so there's a subtle message here is that we have to do more than just sell bits. We, we're ultimately selling customer success or a business outcome, whatever you want to call it. So we need to transfer that knowledge to our customers so they can run their business better. So it's our investment back into the customer saying, Hey, you know what, if you're a software company and your DSO is at this level, you know, best in class is actually, you know, five days lower on a day sale, outstanding. How do you get your business to close that gap? And that's where we can really add value comms. People love comparables and best practices. You're essentially taking that heavy lifting work. It's giving it up there. It's benchmarking, it's analysis. You know, I was a former wall street analyst, so this one's near and dear to my heart, which is comparison, you know, how is this company doing versus that company? >>And so we have lots of data, um, that we've gleaned over the years. Lots of insights. So we kind of know what those best practices are. This is just the first phase of what we're doing. We're working with a lot of partners across the industry to give us some of their industry data so we kind of mash it up and come up with the insights. So it wasn't as an analyst, I'd love to get your thoughts real quick and take the, take the net suite hat off, put your industry participants hat on. Lot of wall street challenges around we worked, pulled their IPO, their GP gross profit was down. Other SAS businesses have huge margins. Their successful zooms public. There's a new formula developing in this cloud 2.0 world software world where the dynamic between classic software and software economics in the cloud are changing. What's your thoughts on this? >>If a startups out there and growing companies that are really looking to crack the code by at all costs and then monetize, get the margins that would, what's your, what's your analysis? No, it's, I, this is an area that I think a lot of companies raise too much, too much capital. Right? And they, we've been in this very unique environment over the last kind of eight or nine years where I'd argue a lot of startups who've been overfunded and when you have overfunding you chase growth at really no, you know, at without any limit on terms of the cost and what you see as you sort of distort the reality of what's happening in the business. And so I would argue that we've had, you know, zero in basically free money in terms of access to capital and we've lost track of some of the basics that you need to build a profitable, sustainable business. >>So, you know, when I was working on wall street, you couldn't go public, you know, if you were within say four quarters of cashflow break even, right? Those are some of the things that we used to have. But you've seen, you know, business fundamentals. Yeah, I need, and so what's happening right now? It's just a little bit of her. I think it's mean reversion. Honestly. I think you're seeing, you know, the public markets, you know, if you will veto some of the frothiness that's been in the private markets. And so this is, I think companies, some marketplaces do. That's what they, that's there. It's fantastic. It's a self correcting mechanism, right? I mean it's, you know, just cause you marked up your last round when you were private to a good Jillian dollars doesn't mean that the buy side on, you know, the pension fund is going to want to pay that and we work so you can't be high and run a business. You know, as we were saying, you know, trying, you know, God bless them, they're trying, but it's probably not the best practice I would not have. I would not recommend that. It's not a good look for wall street. How a good luck, you know, you can get on the Joe Rogan show there, knock yourself out. If you're a Ilan, you can do it. But you know, he's the, he's the only one we're going to let, don't know. >>Probably shouldn't be publicly. Air's too much unless you want something to laugh at and you know what, in this economy, I think we all need that. Jason, thank you for sharing with us what you're doing at NetSuite with Boomi, the insights that you guys are opening up with brain yard. So from brain yard, let's go back to the other yard that I promised. The baseball yard, your Dodger fan giants fan. Hats off. You guys are there. We are not. So I will say good luck to your team. We appreciate your time and what can I say, Bri? I'll give it to ya. All right, well it's been a pleasure talking to you and thank you for your time. Thanks for John furrier. I'm Lisa Martin. You're watching the cube from booby world 19 thanks for watching.
SUMMARY :
Live from Washington, D C it's the cube covering So talk to us about you guys. And so they've been a great partner to sort of help all You guys had success with Boomi And you know, the ERP system is one of the major hubs in any organization, things that we talk about, and John even pointed out yesterday is you know, they took a big And I think that alignment, which is, you know, we're 100% in the cloud, always have been, And one of the things that you observed obviously is that we never go from, you know, 100 to zero in terms of what's deployed in the legacy. One thing that caught my eye was, you know, And what ends up happening is we've architected NetSuite to let you start small you know, Boomie's owned by Dell, NetSuite's owned by Oracle, right? Talk to us about what you've achieved there. Evan Goldberg and Larry had the famous four minute phone call to, you know, kind of crazily idea So we tried it and this was sort of the genius Show about some stories from the field that you've seen out there. tend to lock you into a model, right? And so you may, you know, we give you control and then we give you the agility, right? Because as consumers we have this expectation whether you know in our personal It's you have to make your user experience consumer grade, What that is, why you developed it and what And so we decided to crack the hood open and literally open source that information and put it on the website. you know what, if you're a software company and your DSO is at this level, you know, best in class is actually, And so we have lots of data, um, that we've gleaned over the years. really no, you know, at without any limit on terms of the cost and what you see as you sort of distort as we were saying, you know, trying, you know, God bless them, they're trying, but it's probably not the the insights that you guys are opening up with brain yard.
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