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Nestorware, Inc

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Title: Nestorware, Inc


1
Nestorware, Inc
  • People Knowledge - Process

Nestor is the mascot of SupportCentral, the Web
2.0 application developed at General Electric.
November 2009
2
Disclosure
THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER TO
SELL, NOR A SOLICITATION OF AN OFFER TO BUY,
SECURITIES.  The information contained in this
document is confidential and proprietary to the
Company and is being shared with the express
understanding that, without the Companys express
permission, you will not release this document or
discuss the information contained herein or make
reproductions.  By accepting delivery of this
document, you agree promptly to return to the
Company this document and any other documents or
information furnished, if the Company so
requests. This Document, including its
appendices, and other documents you may receive
together with this document contain forward
looking statements.  Words such as believes,
anticipates, plans, expects, intends,
would, could, will (when used to describe
the Companys business plans) and similar
expressions are intended to identify forward
looking statements.  Examples of forward looking
statements include, but are not limited to (i)
projections of revenues, income or loss, earnings
or loss per share, capital expenditures,
dividends, capital structure and other financial
items, (ii) statements of the plans and
objectives of the Company or its management, or
estimates or predictions of actions by clients,
candidates, suppliers, competitors or regulatory
authorities, (iii) statements of future economic
performance, and (iv) statements of assumptions
underlying other statements and statements about
the Company or its business. Forward-looking
statements are beyond the ability of the Company
to control and in many cases the Company cannot
predict what factors would cause actual results
to differ materially from those indicated by the
forward looking statements.  Readers of this
document, and any document incorporated by
reference herein or provided by the Company with
this document, are advised that these documents
contain both statements of historical facts and
forward-looking statements.  Forward-looking
statements are subject to certain risks and
uncertainties, which could cause actual results
to differ materially from those indicated by the
forward looking statements and investors are
cautioned against relying on these forward
looking statements. This document and any
documents incorporated by reference herein or
provided by the Company with this document also
may identify important factors which could cause
actual results to differ materially from those
indicated by the forward-looking statements. 
These risks and uncertainties include the factors
which are described herein and in documents
incorporated by reference herein.
3
Agenda
  • Executive Summary
  • The Problem, The Need, The Solution
  • SupportCentrals GE Track Record
  • Competitive Landscape
  • Go-to-Market Strategy
  • Management Team
  • Financial Summary
  • Security Offered Expected Returns
  • Appendix

4
Executive Summary
  • GE desires to unleash the potential of a
    proprietary 100 web-based killer app that has
    changed the way organizations collaborate.
  • There is a market opportunity as organizations
    look for technology that supports business
    collaboration.
  • An acquisition vehicle has been formed and the
    management team that developed the product is
    joining. That entity seeks expansion capital.
  • The team is the 14 employees and 136 contractors
    that supports GE and 15 other organizations the
    foundation is in place.
  • Management seeks a partner who is prepared to
    invest 30 million. Expected Return is over 50
    per year.

5
The Problem
  • Working together on projects is still a
    paper-intensive, face-to-face process with high
    costs for finding the right people, pulling
    information together, and communicating any
    change in process.
  • E-Mail is being used as a collaboration tool,
    with poor knowledge management, inadequate
    document control, and each employee becoming a
    silo of expertise.
  • There is far too little re-use of knowledge and
    know how companies fail to generate shareholder
    value from the IP of a company. The larger the
    enterprise, the more likely it is to overlook
    internal expertise.
  • Most business processes still have significant
    processing inefficiencies, and miss both cost
    saving opportunities and revenue enhancers.
  • In 2 years, Twitter has had more impact on how
    people socialize than 50 years of computer
    systems has had on how people work together.

6
The Need
Virtually all organizations need a technology
that will support collaboration and make their
work more efficient.
7
The Solution Nestorwares SupportCentral
  • Break-through application a proven killer app
  • Self-Service Web 2.0 for any organization
  • Scalable with mass customization
  • Breadth depth of functionality
  • Low cost of ownership
  • Ease of use
  • Secure

In process
GE has a business of owning cars and leasing
them to individuals and fleets in the UK. At the
end of a lease, the leasee has an option to buy
the car, and if not, a requirement to return it.
There are 190,000 such transactions each year.
A car coming off lease loses approximately 10 in
value every day, and processing the off-lease
took 21 days and was touched by 15 different
people both inside and outside of GE. William
Wilberforce used Support Central to make his job
easier. He used the social networking tools to
create a network, then the forms tools to create
a series of automated transactions. While hes
not yet through with the automation, hes cut
GEs average holding period to 5 days and saved
30.4 million a year.
8
What is SupportCentral?
People
Professional Networks Profiles Portals Org
Directory Blogs and Wikis
Newsletters Surveys

Communities Collaboration
Knowledge
Process
Document Libraries Ask an Expert
Dashboards Ad Hoc Reports
Workflows Data Forms
Helpdesk Cases Project Management Application
Building
9
Usage is now second only to e-mail
10
How is it used today?
Operations
Sales
Human Resource
Contract Management Inquiry to Order Order to
Remittance Pricing Quote Generation Customer
Reporting Sales Forecasting
On-boarding / Off-boarding Career
Development Rotational Program Management Headcoun
t Approval
New Product Introduction Change Management New
Service Introduction Issue Resolution
Information Technology
Legal
Marketing
IP Fillings Idea Generation Legal Entity
Database
SDLC Management Defect Tracking Training
Libraries Access Management
Market Knowledge Management Recruiter Database
Over 23,000 active digitized workflows
11
SupportCentral Statistics
  • 30,000,000 Web hits per day
  • 1,000,000 File downloads per day
  • 400,000 End Users
  • 60,000 Facilitators
  • 50,000 Communities
  • 33,000 Active Experts
  • 23,000 Active Work Flows
  • 8,000 GE Alumni (SupportCentral users gt 1,000
    times)
  • 4,500 External partners (28,000 users)
  • 460 LinkedIn user group members (Jive 189
    members)
  • 150 Employees Contractors
  • Countries with end users
  • 19 Languages (40 of users OUS)
  • 11 External customers
  • 3 Terabytes of user uploads added per month
  • Business critical application across the global
    enterprise
  • Second highest use only to e-mail
  • The backbone of the organization

12
Customers Today 400,000 users
European Commission (EU) HomeDepot
Supply Brandenergy Ministry of External Affairs
(India) Tata Consulting Services
Honeywell InBev Int Flavors
Fragrances UPENN Univ. College London
General Electric SABIC Gexpro Modular
Space Shinsei Bank ERC Swiss Re
13
Thought Leader Perspective
This was a bit of a Wake-Up call for people
like me as this SupportCentral was in 2000
and the social networking phenomenon was yet
to hit the mainstream
Dave Tebbutt
Blog Home-grown Enterprise 2.0 at GE
September 2008
GE Nails the Internal Social Network
Ann All, The Visible
Enterprise
July 2008
What Obama Needs to Know About Innovation
recommends the Obama administration look to GEs
SupportCentral for innovation.
Jeneanne Rae, Business Week
November 2008
14
Thought Leader Perspective
  • Just as Google revolutionized search, Facebook
    redefines social networking, and eBay enables
    pricing transparency, SupportCentral transforms
    how GE finds and shares information, collaborates
    and executes business processes
  • Mark Mastrianni, Manager
    of Technology, GE
    2009

The GE experience for me was like finding out
that all the stuff they show on Star Trek was
actually real transporters, warp drive, etc.  It
was that impactful.I have seen the future of
corporate social media in a way that I did not
believe was possible GE is way ahead of
everyone else in this, us included. To say that
I was blown away would be a bit of an
understatement it became apparent that they had
successfully rewired GEs corporate DNA to
function very effectively as a social computer
Chuck Hollis, VP Marketing, EMC
Corp. Blog A Journey in Social Media A
Humbling Experience
July
2008
15
Our Mission
Nestorware is now taking this proven and
established product and going to a marketplace
ready and enthusiastic for it to ...
  • Solve problems with a known solution
  • Solve problems with no known solution
  • Solve problems that arent yet known

16
Competitive Landscape
  • Competition comes from platform companies, point
    solution software companies and social software
    start-ups
  • Pure plays are evolving, but capabilities are
    narrowly focused
  • Competitors are jockeying for position --
    awaiting new release from Sharepoint and
    Software-as-a-Service adoption
  • GE developed this first a truly scalable,
    cost-effective and comprehensive solution
  • 10 year track record
  • 3 year lead on emerging competitors

17
Competitive Landscape
In process
  • In reviewing the competitive landscape for
    business collaboration software, Gartner Group
    has set four categories for the various
    functions
  • Social Software
  • Horizontal Portal
  • Enterprise Content Management
  • Business Process Management
  • We have reviewed the capabiltiies of
    SupportCentral using the Gartner model. In the
    following pages, we have color coded the
    performance of SupportCentral as full, partial,
    or none.
  • Support Central has a full and robust feature set
    in the category Social Software
  • Social Software
  • o        User profiles
  • o        Roles/Access control
  • o        Groups/Communities
  • o        Document sharing
  • o        Forums/Blogs/Wikis

18
Competitive Landscape
In process
We have color coded the performance of
SupportCentral as full, partial, or none.
SupportCentral stands alone with the unique
approach of point and click programming
architecture. Users create portals, applications
and mash-ups using Web 2.0 methods using
SupportCentrals toolkit. This feature is part
of the 3-year advance on the competitors, and not
captured in the Gartner analysis. Horizontal
Portal o        Search index of
content o        Categorize content /
taxonomy o        Content management /
aggregation o        Personalized delivery of
content o        Lightweight scripting /
integration o        Lightweight
architecture o        Robust execution
environment o        Powerful, flexible
development tools o        Enterprise class
(scale) o        Collaborative features o       
Mobile support (partial)
19
Competitive Landscape
In process
We have color coded the performance of
SupportCentral as full, partial, or none.
Narrative - NE? Enterprise Content
Management o        Document Management o       
Document Imaging o        Records
Management o        Workflow o        Web Content
Management (partial) o       Document Centric
Collaboration
20
Competitive Landscape
In process
We have color coded the performance of
SupportCentral as full, partial, or none.
Narrative - NE? Business Process
Management o        Modeling, analysis o       
Ability to change process o        Coordination
interactions (human and system combinations) o    
    Users able to manipulate information o       
Ability to change business rules by business and
IT o        Collaboration on work items o       
Monitoring and reporting of transactions/queues o 
       Process optimization and
simulation o        Interoperate with external
sources o        Facilitate management of process
artifacts through lifecycle Includes
prebuilt process templates / designs
21
Competitive Landscape
In process
Key Full Most Features Few
Features - Minimal or no Features
SupportCentral offers the most robust feature set
available in the market
22
Two Solutions Platforms
On-Premise
SaaS
  • Target Customer
  • Small to Mid-Sized enterprises, looking for
    affordable software/hosting solution
  • Our Advantages
  • Same as On-Premise
  • Automatic updates and maintenance
  • Lower IT staff requirements
  • Lower upfront costs due to multi-tenancy
  • Rapid deployment
  • Exceptional reliability and performance
  • Target Customer
  • Large enterprises, diverse operations
  • Our Advantages
  • Ease of use
  • Self-service customization
  • Scalable integration capabilities
  • Breadth and depth of functionality
  • Low total cost of delivery
  • Security

Nestorware is uniquely positioned to offer
customers a choice of platforms with a scalable,
standardized backbone
23
Go-to-Market Strategy
Product Offering
On-Premise
SaaS
2
1
Direct Sales
3
4
Indirect Sales
Positioned to win on multiple fronts
24
Sales Mix
Sales by Channel
Sales by Customer
Fortune 500
Full License
Subscriptions SaaS (40)
SaaS
(38)
(30)
(40)
Government GNO (3)
Maintenance (8)
GE (8)
US Other Corporations (9)
Non-US Large Corporations (10)
Consulting (13)
Toe-Hold (2)
On-Premise 40 SaaS 40 Other 20
25
Sales Marketing Team
26
Go-to-Market Team
In process
  • VP Sales Marketing CH 19 years experience
    in sales, marketing, finance business
    development in high tech medical and software
    industries. Led global sales and marketing for
    _______. Success in integrating an acquired sales
    force led to __ sales growth in 2 years.
    Implemented initial GE decision to create
    SupportCentral.
  • Segment Director On-Premises Solutions TBA --
    15 years of software sales expertise and
    relationships previously with Microsoft
    Sharepoint
  • Segment Director SaaS Solutions CF brings
    20 years sales and marketing experience
    previously with IBM Lotus software sales
  • Director Verticals Alliances DH, BSE, CFA
    25 years of systems development and
    administration work at Jones Lang Wooten and
    Alliance Bernstein. BSE/CFA
  • Sales Consultant AZ 5-10 year GE sales
    veteran previously with GE Global eXchange
    Services leading B2B solutions provider
  • Sales Consultant - TD 5-10 years experience
    previously with Microsoft
  • Sales Engineer - JH, 20 years of experience in
    systems and data warehouse sales support, at
    Coopers Lybrand, Metaphor, Sybase and Oracle.
    MBA/CPA

Flat organized, focused resources
27
Go-to-Market Strategy
  • Positioned for quick successes
  • GE consolidated existing new growth list
  • Close immediate pipeline of 6 customers
  • Capitalize on our rich network
  • 8,000 high-user GE alumni
  • 5,000 existing GE partners accessing platform
    today
  • Pursue opportunistic vertical plays i.e. life
    sciences, education, state and local agencies

Fishing in a stocked stream
28
Penetration Strategy
On-Premise
SaaS
  • Web-based, self-service registration
  • Maximize seat subscription penetration with
    low-cost initial module of choice menu options
  • Provide on-line service and support to accelerate
    adoption of broader solutions.

1. Quickly maximize seat penetration with
toe-hold offering
Profiles Communities (internal)
2. Target high impact functional areas, Up-sell
higher level functionality
Advanced Collaboration
Knowledge/Document Management
Work Flow Templates
4. Follow-through with highest level of customer
service to drive viral adoption, up-sell training
and business consulting solutions
3. Follow-through to drive viral adoption,
up-sell training and business consulting
solutions
Pay as you grow
29
Management Team
Chairman of the Board
Advisory Board
30
Management Team
In process
  • Irwin Braunstein, Chairman. Irwin is
    non-executive Chairman and a consultant to the
    company.
  • Note The following individuals intend to join
    Nestorware upon completion of the transaction.
  • Sukh Grewal, President Acting CEO. Over ten
    years, Sukh has led the team that transformed his
    product idea into a major success. Sukh
    graduated with B.Tech (Honours) from the IIT
    Kharagpur and obtained a Ph.D from the University
    of Wisconsin. He is the author of over twenty
    research papers and holds 10 patents.
  • Craig Haba, Marketing Sales. Craig and Sukh
    first worked together when SupportCentral was
    initially conceived and funded. Most recently,
    Craig was VPMarketing at Covidien, a leading
    medical device manufacturer. Craig earned a
    degree in Economics from Fairfield University and
    is a graduate of several GE leadership programs.
  • Tamás Simon, Engineering. For the past 9 years
    Simon has led design, architecture and operations
    of the SupportCentral platform. Simon graduated
    with honors from Franklin Marshall with degrees
    in Mathematics and Business Management.
  • Nathaniel Ellis, Services Solutions. Nathaniel
    leads the Business Solutions and Consulting group
    that he started and grew to a team of over 60
    people in 2 years. Nathaniel is a graduate of
    the Universities of Cambridge, and Yale where he
    was the Paul Mellon Fellow.
  • Preston Kavanagh, Chief Financial Officer.
    Preston has 27 years of experience in the
    financial management of growth companies,
    including a successful startup, a turn around
    and 10 years as a partner at Conning Capital. He
    has degrees from Princeton University and New
    York University, and is a CPA and CMA.

31
Financial Projections Highlights
32
Security
  • 60 million pre-money value
  • 30 million preferred stock, 8 PIK dividend,
    convertible into 33 at issue, 2 of 5 board seats
    (others held by management and 2 independents)
  • GE is retaining a 10 ownership and supporting
    the new business with office space, a long term
    revenue stream and marketing support.
  • Expected exit is sale to a strategic, with
    recapitalization and investor buyout or IPO as
    alternatives
  • Using the average of three valuation approaches
    applied to projected 2014 results, a 67 IRR over
    5.5 years

33
Next Steps
  • Financing
  • Complete meetings with 2-4 marquee investors
  • Indications of interest, term sheets, due
    diligence, deal documents
  • Simultaneous close, GE and investors
  • Market
  • Close on candidates for the sales organization
  • Close on leads in the current pipeline
  • GE
  • Continue exemplary support to GE
  • Move GE transaction from term sheet to legal
    documents.

34
Appendices
  • Case Studies
  • Financials
  • Product Buzz
  • Nestor

35
Case Study Security Change Management Tool
Problem 25 product change management
processes Process tools yielding 40-70 defect
rates Lead times up to 1 year No ownership or
accountability - all resulted in customer
dissatisfaction. Solution Single change
management process for all of GE Security
Dashboard for easy access to ECO status
Automatic email notifications to organizations
who need to take actions and need to know about
changes. Result Significant efficiency
improvements and estimated savings of 1.4M
annually. Handles 100 of Engineering Change
Orders worldwide with 0 defect rate in the
process.
36
Case Study Water.com Contact us
Customers and Suppliers log Sales and Support
enquiries on the GEWATER.COM website. Requests
from the Internet are instantly logged and
tracked as cases in SupportCentral. The lead
workflow process can then be launched directly
from these cases.
This change resulted in the consolidation of the
old contact us form, global office locator, and
the sales rep locator functionality on the
customer portal into a single simpler, easy to
access form with a trackable, viewable controlled
process behind it -GE IT Leader
37
Healthcare Contracts Sales to Billing
Problem Manual process for logging contracts
led to 1.5 Million in missing revenue and
incorrect billing. Poor information between
de-installation vendors and Healthcare resulted
in billing errors and an 80 day delay in cash
flow. Solution Custom forms let Healthcare
capture new contract details and de-installation
requests from field sales teams, route them
through multiple approvers, and minimize errors
before entry into billing systems. A single
Community links sales teams, vendors, and billing
teams. Result Thousands of contracts tracked,
billing time reduced by 50. Why did they use
SC? 1. A single platform where everyone can
track accountability and ensure timely, accurate
billing. 2. Transparency and visibility into
the process lets field agents monitor contract
progress and de-installation details.
38
Case Studies
  • Contract Processing for Healthcare Services
    Business
  • Paper based process for booking
    revenue and invoicing customers was migrated to
    SupportCentral in 2003. Created and run by 2
    functional (non-IT owners), they had iterated
    through 6 generations of improvement by 2007.
  • Impact In 2007
  • gt 30,000 Requests/1.8Billion Revenue
  • Managed Policy 5.0, 6.1 and SOX compliance
  • Used by Equipment Service Sales, Quoting,
    Risk, Collection, and Field Representatives
  • Reduced processing time by 30 over 2006
  • Accommodated a 30 Increase in requests and 20
    reduction in manpower

39
Financial Projections
The projection model begins with a series of
revenue calculations, based on characteristics of
the Fortune 500 and other market segments, and
the growing number of sales people calling on
those accounts.
40
Financial Projections
The sales people capture accounts (for the SaaS
or on-premises product) where seats then convert
to a full license purchase over a period of
years.
41
Financial Projections
42
Financial Projections
43
Key Marketing Activities
All hands touch the sales cycle!
44
Product Buzz
45
Product Buzz
  • A Humbling Experience    " I have seen the future
    of corporate social media in a way that I did not
    believe was possible.   I saw it working in ways
    that I thought were many years away. "  Chuck
    Hollis A Journey In Social Media July 8, 2008 
  • GE's Enterprise Collaboration Backbone    Oliver
    Marks ZDNet July 17, 2008
  • Social Networking GE's Enterprise Tale   Mary
    Jander Internet Evolution February 12, 2009 GE
    Nails the Internal Social Network   Ann All The
    Visible Enterprise July 21, 2008
  • What Obama Needs to Know About Innovation 
     Jeneanne Rae Business Week November 26, 2008 
  •  Office 2.0 Conference
  • Home-grown Enterprise 2.0 at GE  " This was a bit
    of a wake-up for people like me who went into the
    sessions expecting to hear about the triumphant
    penetration of the enterprise by a Web 2.0-style
    company such as Socialtext, Jive, Atlassian or
    WordFrame. "    David Tebbutt Teblog September
    17,2008
  • 2.0 Conference offers collaboration lessons  
     Alex Handy SDTimes on the Web September 5,
    2008
  • An enterprise balancing act in the cloud  
     Oliver Marks ZDNet September 8, 2008
  • The Adoption Conversation at Office 2.0    Mark
    Bennett TalentedApps September 10, 2008
  • It's a wrap- Office 2.0 '08    Susan Scrupski
    ITSinsider September 8, 2008
  • Office 2.0 The "2.0 National Convention"  
     Susan Scrupski ITSinsider August 25, 2008
  • GE Puts Private Cloud Model to the Test   J.
    Nicholas Hoover Information Week April 13, 2009

46
Nestor
The Nestor mascot was created by Ken Moon as part
of the Japanese language release. Ken is part of
the transitioning management team and still
autographs the stuffed animal version.
47
Nestor
At a user conference in Prague, the users ordered
a suit, wore the costume, and danced around the
room. This was done and paid for by users,
without budget or organization from IT.
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