Ha! The stock is cratering and I love it! Let's see them acquire their way out of this mess. Now the rubber hits the road - SS&C lacks the talent (no less the business acumen) to actually create anything of value. Can't wait to see it hit 30.
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I think they have some pretty good products and solutions. It just that they do not necessarily combine them well. I don't think that's the issue. From what I have seen and gathered, they say they are sales focused but don't support sales in the slightest. Bad comp plan, bad to no tools/CRM, spreadsheet hell and basically treating experienced sales people like its their first sales job and micromanaging everything they do. I think that alone explains the turnover of experienced and overall sales reps leaving. They are also very aggressive hiring salespeople so they have a back log and next man up mentality, just refilling the salesperson funnel. Reps do not have time to build knowledge and relationships before they are jettisoned or leave on their own. And with the low base and extended commission payout, they are only getting inexperienced or low grade sales reps. There is not a solid sales structure/culture to help them and the company succeed. It certainly is an interesting culture to say the least. To each his own. If you don't like it, leave or don't take the job to begin with.
tough to sell something you don't believe in or you know is crumbling
It's the culture, most definitely. Ssnc doesn't value staff in the slightest.
Definitely some of the good ones leaving or have left but this is an exodus. Is this the culture, comp or what? Maybe this is what SS&C mgt wants. To bring in "their own people"
And when you factor in that all the experienced DST sales staff are leaving for greener pasture ....2 more this week.....close to a dozen in the past couple months....it will be an interesting watch