Acumatica Co-Founder and Chairman Serguei Beloussov isn’t messing around. During his second day keynote (and also on this video) he declares a revenue goal of $1 billion in revenue and $5 billion in partner revenues in less than a decade.
So how will Acumatica get there? Serguei – a well-seasoned CEO and startup veteran – starts by giving Jon his view on why mobile and cloud trends matter. He then points to a midmarket ecosystem of VARs ready to sell cloud ERP that he believes have been neglected by the current players:
There are thousands of value added resellers…which have expertise in satisfying the customers of mid‑market with business applications. What happened is that, for some subjective and objective reasons, they are left unattended right now. The biggest vendors in this space are either moving their strategy to be more direct, like NetApp and Sage, or moving upmarket, like Microsoft, which forces them to focus on larger resellers.
Serguei sees the next piece of Acumatica’s advantage in terms of the lack of innovative products serving midmarket ERP customers. He believes they are stuck in a no-man’s land of sorts between QuickBooks and “big ERP” (Oracle/SAP) and are underserved from an innovation standpoint. Citing his conversations with midmarket CEOs unhappy with their current ERP systems, Serguei says:
It is mandatory for medium‑sized businesses to have ERP systems. It was enough to have accounting systems, in the past. But today, for them to stay competitive, they have to have a modern, complete ERP system. There is not as much choice, because they have limited budgets, limited time and a limited amount of expertise. They can’t afford to buy SAP and Oracle, and they can no longer use things like QuickBooks, because they are already sizable.
For most of the video, Serguei talks trends and does not explicitly plug Acumatica, so Jon gives him a chance to wrap the video with a “shameless plug.” Serguei complies.
:48 Impact of cloud and mobile
1:44 Midmarket VAR ecosystem is up for grabs
3:26 ERP systems are mandatory for midsize companies
4:04 Why CFOs are unhappy with their current ERP systems
5:51 Midsize companies between Quickbooks and “big ERP” need new solutions
6:28 Why Acumatica matters – Jon gives Serguei “shameless plug time”
7:54 Revenue goals: $1 billion in revenue and $5 billion in partner revenues – in under 10 years
Disclosure: Acumatica paid for Jon’s travel and accommodations to Acumatica Summit 2013