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Siebel System: The Role of The Cfo: Submitted By:-Shweta Jain 09609061 SHASHANK GAUR 09609059

1) Siebel Systems was founded in 1993 and emerged as the leading provider of customer relationship management (CRM) software, generating $1.4 billion in revenue by 2003. 2) In the early 2000s, Siebel faced challenges from the dot-com bust and reduction in IT spending, losing market share to larger ERP vendors. The CEO took measures like cutting costs and reducing workforce. 3) The CFO of Siebel spent most of his time on internal responsibilities like ensuring accurate financial reporting and developing forecasts and budgets. He also focused on administrative systems and priorities across corporate governance, financial modeling, operations, leadership, and investor relations.

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353 views8 pages

Siebel System: The Role of The Cfo: Submitted By:-Shweta Jain 09609061 SHASHANK GAUR 09609059

1) Siebel Systems was founded in 1993 and emerged as the leading provider of customer relationship management (CRM) software, generating $1.4 billion in revenue by 2003. 2) In the early 2000s, Siebel faced challenges from the dot-com bust and reduction in IT spending, losing market share to larger ERP vendors. The CEO took measures like cutting costs and reducing workforce. 3) The CFO of Siebel spent most of his time on internal responsibilities like ensuring accurate financial reporting and developing forecasts and budgets. He also focused on administrative systems and priorities across corporate governance, financial modeling, operations, leadership, and investor relations.

Uploaded by

shweta077
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd

SIEBEL SYSTEM: THE

ROLE OF THE CFO

SUBMITTED BY :-
SHWETA JAIN 09609061
SHASHANK GAUR 09609059
INTRODUCTION
 Siebel System was founded by Tom Siebel &
Patricia House in the yr 1993.
 Siebel System is now a leading provider of
Customer Relationship management(CRM)
software and services.
 It is headquarter in San Mateo, California and
had revenue of $1.4 billion in 2003.
EARLY SUCCESS NEW CHALLENGES

 Siebel emerged as the lead  With the dot com bust,


in the CRM software. the reduction of
 Its 2 products Siebel corporate technology
Service Enterprise & Siebel spending, and the
Marketing Enterprise. uncertainty after 09/11.
 The revenue came form 2  Siebel had to take steps
areas:- sales of Siebel for cost cutting. The CEO
Enterprise Application by took $1 as his salary for
licensing fees & sales of the whole year, %
services. reduction in workforce,
 Siebel went public on NASDAQ
in ‘96, & by 2000, total
EARLY SUCCESS revenue was $1.8 billion.
 Siebel led the packaged CRM
industry with 18% share.

NEW CHALLENGES
 The company lost market
share to large ERP vendors like
SAP, Oracle & PeopleSoft etc.
 Also faced competition in the
upcoming market of “on-
demand” CRM.
THE ROLE OF CFO AT SIEBEL

 The CFO of Siebel, Ken Goldman, spent 70-80% of


his time on internal aspects of his job.
 His topmost priority was to see the accuracy & full
disclosure of financial assets of the company. His
second priority was development of forecasts and
budgets.
 Spending time on administrative systems was also
important because they form the foundation of the
company and contribute lasting impact.
THE ROLE OF CFO AT SIEBEL
 The CEO Laurie defined the roll of CFO across 5
dimensions:
i. Corporate governance & compliance.
ii. The financial model for Siebel
iii. Operations
iv. Leadership and
v. Investor relationship
 One of the fundamental drivers that transformed the
CFO position was the Sarbanes-Oxley Act that gave a
CFO even stronger corporate governance and
compliance responsibilities.

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