Seibel Systems: Anatomy of a Sale

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Seibel Systems: Anatomy of a Sale

SEIBEL SYSTEMS: ANATOMY OF A SALE

Section 2, Group A

The company was founded in 1993 by Tom Seibal to address the growing need of organization of all sizes to acquire, retain and better serve the customers. Tom Seibal described it as a company built on traditional values and commitment to make its customers successful. Its revenue had reached $2 Billion with 8000 Employees and sold more than 200 Products with 139 direct sales offices in 40 countries around the world and was named among the fastest growing application software company by Fortune Magazine.

It was the world leader in the software for Customer Relationship Management with 50% market share and it was pioneering into the ERM (Employee) systems steadily. It was gaining a healthy reputation in the industry as several magazines had published its rapid growth and success.

Gregg Carman job was to serve financial services clients in the New England region. Largest being FleetBoston which is 9th largest financial bank in United States. FleetBoston had acquired the discount stockbroker Quick & Reilly and Carman was negotiating a deal of $ 2.1 million sales on behalf of Quick & Reilly. However, FleetBoston now wanted to veto the purchase and Gregg carman was stuck in difficult situation of whether to stand by Quick & Reilly or bow to FleetBoston’s Wishes.