Sramana Mitra: It has a gigantic budget.
Gaurav Rewari: Right. Stepping along the pillars, if you will, of IT service management to IT asset management, to IT project management, these are the building blocks of something called ERP for IT. They were imagining that into existence in the cloud. I felt that not only were they doing that replacement category for IT service management, but their ambition is also playing out on a larger scale with this ERP for IT. >>>
Today’s 250th FREE online 1M/1M roundtable for entrepreneurs is starting NOW, on Thursday, February 26, at 8:00 a.m. PST/11:00 a.m. EST/9:30 p.m. India IST. Click here to join.
The recent holiday season was a particularly good quarter for game title publisher Electronic Arts (Nasdaq: EA). The company reported strong financial results, thus sending their stock soaring to 7-year high levels. EA plans to continue to deliver such growth through a line-up of additional game titles scheduled for the year.
Sramana Mitra: Wow! It must have been very scary. How long did it take you to recover that $1 million from that domain?
Tom Fallenstein: It paid for itself in nine months.
Sramana Mitra: Awesome.
Tom Fallenstein: We bought it in January. By the time we made it through October, about 30% to 40% of our sales came directly from that website became 30% to 40% of our sales. >>>
Sramana Mitra: What year does that bring us up to?
Gaurav Rewari: That brings us to 2012.
Sramana Mitra: That was pretty recently.
Gaurav Rewari: Yes, but that startup bug I alluded to earlier hadn’t quite left me. It started biting me quite hard again. Our respective product lines at Oracle were doing really well. They were either number one or number two in each category. I looked out and I really felt like the enterprise landscape was changing on an epic scale right in front of my eyes. Specifically, what I felt very strongly about was the rise of the cloud delivery model. It was creating significant upheaval in a lot of established IT buying categories. We saw it play out in CRM with the rise of Salesforce.com and HCM with the rise of Workday. I began to ask myself, “What impact is this going to have on analytics?” Analytics has always been a secondary market. The idea is that if you can stroll into a company like we did in the mid 90s at MicroStrategy, you would see a lot of on-premise software. >>>
Entrepreneurs are invited to the 250th FREE online 1M/1M roundtable mentoring session on Thursday, February 26, 2015, at 8 a.m. PST/11 a.m. EST/9:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
Sramana Mitra: Which brings us up to mid-2000?
Praful Saklani: That’s exactly right. In 2005, I decided it was time to move back to the US for a variety of reasons. I wanted to get back into enterprise software and started to think about the things that either I had experienced as a pain point or my customers had experienced that would be really interesting to create a company around. That’s when I started to zero in on my experience when I sold Yatra and had to deal with lots of paper work as well as the attorneys and accountants coming in and looking at files. I remember there was very little automation in that process during that time. I started to zero in on how well-understood all of that information is and started to network with other people who would have done some other things or who might be dealing with that problem on a regular basis. That was really the seed idea that eventually flowered into Pramata. >>>
According to a 2014 Accenture report, the global market for electronic health records (EHR) is projected to grow to $22.3 billion in 2015. North America is expected to remain the biggest region in the industry, growing 7% annually to bring in $10.1 billion. Westborough, Massachusetts-based eClinicalWorks is a growing force in the industry and a proud member of the Billion Dollar Unicorn club member. What’s more, the company was bootstrapped with a paycheck.