Archive for the ‘BoardVantage News’ Category

Joe Ruck

2010 Q4 Update

Wednesday, January 12th, 2011

The fall of 2010 capped off a banner year for BoardVantage. We released not one, but two different iPad apps and implemented our recently announced NextGen platform across dozens of clients. Notable Q4 accomplishments included:

  • A surge in the adoption of the NextGen platform for leadership team collaboration in addition to secure board communications. Wins representative of this trend include Scotts Miracle Gro, Lear Corporation, and the Canadian Health Institute.
  • December launch of the Meeting Center, our second generation iPad app which gives directors birds eye and drill down views of all their meeting materials. The result of an intensive engineering investment, Meeting Center is successfully luring even the most traditional directors towards electronic board communication.
  • Expansion into emerging markets through a partnership with  MZ, a well-established and innovative IR and corporate governance specialist with focus on Brazil and China and other emerging markets.
  • Release of InvestorVantage, a dedicated iPad app for shareholder communication and our first non-board application based on the NextGen platform. The product was launched in December and has a leading Brazilian oil and gas producer, HRT,  as its first customer.

I’d like to thank our clients for their participation in the ongoing dialogue that helps guide our product development, and can promise with confidence that BoardVantage will continue to invest heavily in R&D with the aim of delivering an even bigger list of innovations in 2011.

Joe Ruck

An iPad for Board Work: Take Two

Thursday, December 9th, 2010

Back in June, when I wrote about my experience with the iPad, I sensed that a threshold had been crossed – that Apple had achieved such a breakthrough on tablet usability that it might change the fundamentals of the board portal space.

On the day the iPad hit the stores we offered browser support, and very quickly directors throughout the customer base were using it for accessing meeting information.

But it was the realization that the iPad was something special that made us re-think our roadmap, and greenlight a major investment in the development of a native app for BoardVantage. By that I mean, not a browser, but an application that is coded in Apple’s iOS and optimized for the iPad’s form factor. Knowing what we know now (7.5millon units sold so far) this decision would be a slam dunk.  At the time it was anything but. We were all keenly aware of the long list of hardware manufacturers that tried their hand at tablets only to see them flop in the market. The last thing we wanted was to make a seven-figure investment in a device that would meet that fate. Who knows, the iPad could start strong but then stall out after the initial hype wore off. Of course that’s not what happened.

Six months later, it’s safe to say that it turned out to be an excellent bet. Today, over forty percent of our directors access our portal from the iPad. Five out of ten demos are driven by iPad requirements. Traditional boards who never dreamt of abandoning their paper are suddenly hot prospects, and existing customers routinely approach us with the news they just bought iPads for their board.

Now with the app in the market, let me update you on my own experiences of using it for board work. First, as a recap, the advantages that existed in June remain unchanged. The screen quality is unmatched. Its form factor and feather weight make it a hassle-free traffic companion.  There is no learning curve – unless you count the swiping action to advance screens, and it is always on. Of course, to support such an elegant interface, Apple had to make some trade-offs. They also remain unchanged. It is no laptop replacement if you’re a power user. And, although it’s fine for making an occasional annotation, no one should make the mistake of buying it as an editing tool.  It is at heart, a sublime consumption device.

But besides these hardware-centric advantages, there is another aspect that makes the iPad so exciting. That is its unique strength in graphics and animation. The next time you watch a network show or NFL game on TV, keep an eye out for the Apple commercials. What you will see is a parade of cool consumer apps that take advantage of these capabilities. In our Meeting Center app you will find that same caliber of graphics. And those graphics are not just for sizzle. They let us present meeting information in way that’s far more efficient and elegant than you can on a laptop.

Let’s look at specifics.

Whenever I prepare for a board meeting, there are certain things I need direct access to. Besides the meeting materials, I need to know which board members are attending, and who in the CS office is prepping the materials. I also need the particulars of hotel and travel arrangements, and since those plans don’t always stay fixed, I would like updates if they change.  With Meeting Center, I now get all that in one place.  With a few swipes I can drill down to all the board material of the current meeting, review the minutes from the last meeting, check out whether the hotel has an adequate fitness club, and get an update if the dinner spot had changed, all in about the time it took you to read this. Try doing that with paper.

The other thing I need often is access to previous board meetings to check what had been presented at the time. That’s where the Meeting Timeline comes in. It gives me a view of the library of prior meetings with one touch. Now I can ‘time-travel’ through years of material in seconds. In other words, I have a bird’s eye view of all my meetings, prior, current or future.

Let me close by pointing out that none of this would be possible in a browser. True, you can view an agenda but soon you will find yourself ‘swimming’ around the screen because browsers don’t play well with the scale and proportions of the iPad. They were optimized for PCs with large monitors.  And they work very well for that purpose.  But the iPad is a new device, a ‘third device’, that fits somewhere between a laptop and cell phone. To realize its full potential an investment needs to be made in developing a native app, otherwise the iPad’s vaunted usability will go unrealized.  But once that is done you get a transformative result.  That’s why it’s hard to overstate the quality of experience of the iPad app.  It leads me to believe that even the most traditional directors will now be open to using technology in their boardroom!

Joe Ruck

Q3 Update

Wednesday, October 6th, 2010

Driven by the production release of BoardVantage NextGen we enjoyed the best quarter in the company’s history with record bookings, wins and renewals. I thought I’d share a few highlights with you:

  • BoardVantage won customers across a broad range of industries, but healthcare was especially strong in Q3. Hospitals are increasingly interested in collaboration across their senior leadership team. The combination of cross-firewall collaboration, board portal security, and power user support in NextGen is a particularly good fit for this need.
  • We added significantly to our European customer base with wins at marquee accounts such as Skype, CGG Veritas and others.
  • A growing number of customers have interest in deploying board portals beyond the boards. NextGen is well-suited for that application. A particularly significant win comes from a F-100 enterprise who will deploy NextGen for 400 users across multiple business units and geographies.
  • Strong revenue growth affords us to continue to invest heavily in development. This includes the NextGen production release as well as our first iPad release, available through iTunes. In the coming weeks we’ll be saying a lot more about the iPad as we roll out additional functionality.
  • We launched our Collaboration blog, which lets BoardVantage executives share their domain expertise on product and industry direction directly with our customers.

Despite a sluggish economic recovery BoardVantage had an outstanding quarter. We believe that our strong product line-up has much to do with these results.  In Q4, we are planning several product releases and we will continue to keep you updated on these and other developments.

Joe Ruck

No Moving Parts

Friday, September 3rd, 2010

In my opinion, one of the biggest benefits customers enjoy with a hosted solution is the reliability that ensues when you only have to support a single environment, one which you as a vendor, have total control over.

Having worked for a number of software companies, and helped them grow from start-up to IPO, I am struck by the change in the character of Engineering. In the early days of the start-up, the engineering team (say, less than 10 staff) spend their time building new functionality. Productivity is impressive, and extrapolating what 1000 engineers could do makes you think you can take on the world. But then, slowly but surely, a greater proportion of engineering time gets sucked up in bug fixes. As the number of customers grows, the number of bugs, rather than decreasing instead tends to increase, and before long you do indeed have 1000 engineers, but the majority are employed on maintenance.

I’ve seen this movie several times within my own companies, and dozens of times with other companies I’ve been familiar with. This is not down it any individual shortcomings, it’s a market dynamic, and one that cripples innovation in those companies.

The problem with Enterprise Software is that no one piece is an island. All software depends the operating system, and typically a database too. Usually there are important cross links to other systems such as email etc. Each of those components exists in many versions and with a variety of patches that can be applied in any combination. The result is that even for a company with 1000 customers, it’s likely that each installation is unique. The number of possible permutations of just 10 patches applied or not is 2048, and cross-dependencies can be both subtle and exponential.

No vendor can regression test 1000+ different combinations of software platform. So when your vendor tells you they haven’t come across your problem before, they are no doubt telling the truth. No customer can run on precisely the exact same software levels that are recommended, since other software will mandate other fixes, and in any event, the inevitable security updates render all such recommendations obsolete within weeks.

Given the complex nature of modern software, it can be hard pinpointing the precise cause of a failure – is it the application, the database, the operating system, or something else? The resultant finger-pointing increases the customer’s blood pressure and length of time taken to resolve as the customer has to take on the role of triage. When a hosted application experiences a failure, the accountability is clear.

A hosted service, with its single environment, takes all of that away at a stroke. Engineering can get back to its core job of innovating, not maintaining. Aside from making life easy for the customer with a more reliable system, the lack of maintenance costs flows directly to the hosted solution vendor’s bottom line and gives them a competitive advantage that enterprise software vendors cannot overcome.

Mary De Frenchi

iPad Fever

Tuesday, August 17th, 2010

Working in the technology business, I am more skeptical than most about vendor announcements. Claims of transformative innovation are a dime a dozen but the reality is that the typical product falls far short of the announcement hype. The iPad has been the exception that proves the rule. As VP of Sales I have a front-row view of how directors use board portals and its adoption has been nothing short of astounding. It has been a real eye-opener.

We’ve been experimenting with tablets for years in an attempt to lower the technology barrier for directors, but nothing seem to be able to move the standard laptop as the tool of choice. Frankly speaking, up to the introduction of the iPad, tablet computers have been little more than a PC minus the keyboard. They all suffered from the same shortcomings that most executives have grudgingly learned to work around, but that many directors just won’t accept.

After Joe published his early experiences with the iPad for BoardVantage, we’ve been inundated with inquiries. Directors across our customer base, whether at Washington Management, TriMas or Validus were running BoardVantage on their iPads within days from the Apple announcement. In many cases, companies let me know that the buzz in their boardroom was so great that they’re buying iPads for all their board members.

It’s a fair question to ask why the iPad is such a hit with directors. As best as I can tell its success is based as much on what it does NOT do, as what it does. While the iPad lacks the countless features that power users in the corporate secretary office demand, that is no loss for directors. What they value is that it’s always-on, highly readable, super-slim and lightweight. Apple’s philosophy of “less is more” is a perfect fit for directors, because the smart design trade-offs make for a hassle-free experience.

You can use BoardVantage with the iPad today, and of course we’re always happy to demo this, especially to organizations with traditional boards who have in the past been reluctant to move online. The iPad has done more to shake up the board portal market than anything I can remember.