Wednesday, May 09, 2007

Deltek IPO: Coming a decade late to the ERP debutante ball : Research 2.0

A financial market focused look at Deltek's IPO
Deltek IPO: Coming a decade late to the ERP debutante ball : Research 2.0: "Deltek IPO: Coming a decade late to the ERP debutante ball

Posted on May 9, 2007

Deltek (NASDAQ: PROJ) filed an IPO with the SEC on May 8. That’s May 8, 2007, not May 8, 1997. I’m reading the S-1 quickly, and it takes me back to the heyday of ERP when Baan, J.D. Edwards and so forth were debuting their IT offerings.

I am reading so quickly that perhaps I am missing something. I see no mention of open source software or SOA. Deltek says, “Our software products depend upon operating platforms and software developed by third parties such as Microsoft, Oracle, Cognos, Actuate, BEA Systems and Sun Microsystems.”

There’s no diversion from the facts to tout the benefits of the SaaS licensing model. Deltek says SaaS is “a model with which we have little experience.” "

...this company took a tack in its SEC filing that I admire: no buzzwords.


* The remnants of Edwards and PeopleSoft are a big part of No. 2 ERP supplier Oracle’s (ORCL) services industries story.

* Although Baan is a part of No. 3 ERP player Infor, which is manufacturing centric (the home of Marcam and Mapics for example), even Infor has its NxTrend construction applications, Infinium hospitality software, and GEAC products for banks and insurers.

* No. 7 ERP player Lawson lost its dominant services industry personality gene through its acquisition of Intentia but Lawson is still is a major factor in the services supply chain.

* Even lacking any particular industry-specific strength, No. 4 ERP player Microsoft does well in the services supply chain.

* And No. 1 ERP supplier, SAP (SAP) offers ERP products aimed at more than 25 specific industries, more than 20 of which are services supply chain centric.

Despite the IPO’s inference, at least SAP and Oracle — and possibly Lawson — are more the leaders than Deltek among “project focused organizations.” The growth opportunity of the late 1990s has gone.


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