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VSC Product overview:
http://www.wave.com/wave-virtual-smart-card-20-product-overview
I think the former CEO had enthusiasts, the current CEO has cautious supporters. Barge, if the dream is ever to be achieved, reality needs to be faced.
New Brief: total cost of ownership
http://www.wave.com/total-cost-ownership-analysis-wave-virtual-smart-card-20
This post should have read, "A belief that there are more customers than can be serviced?"
Under the prior regime inference was costly to the wallet. Will it be the same under the new regime? The following can be used to triangulate, or Bill is full of BS or Bill is delusional.
Hiring of a procurement specialist,
Hiring of quality control engineers and
Partnership/procurement with/of professional services firm to
help with scale
Bill has made a bet with VSC 2.0. Is he right?
Cartoon, not necessarily. Different companies have different needs.
Didn't wave previously service clients internally?
More integration needed with TPM management? More consideration given to satisfying the customer? A belief that there are more customers that can be serviced?
I think Bill believes he can sell VSC 2.0. In the next several months we will find out if he is right.
From Q1 CC (seems relevant)
William M. Solms - Chief Executive Officer, President and Director
I will tell you that probably, and it sounds like you're putting 2 to 2 together, if we're looking at significantly increased enterprise license sales, that there has to be a professional service piece to go along with that, and the issue that I'm looking at right now, not only is our ability to address that professional services internally, but that we -- I have made arrangements to partner with an external company to be able to scale fast enough with our ability to handle the professional services requirements that would be involved in configuration and deployment services.
http://seekingalpha.com/article/2215923-wave-systems-wavx-ceo-william-solms-on-q1-2014-results-earnings-call-transcript?part=single
I saw a couple of Wave postings with quality control listed as a responsibility. This is an investment in the preservation and improvement of existing products. This was previously a major concern of mine. I am glad to see an awareness of product quality.
I think some investors preferred the dream. Lots of talk, lots of whispers, and an imaginary pipeline.
The rest would like to see Bill focused on selling product and doing anything necessary to so.
Dig,
I don't think purchasing a complimentary solution was bad, the problem was related to the strategy. From my understanding, at the end of the former's tenure, there was a focus on selling the Safend products as a standalone solution. I would have viewed it as part of a complete, fully integrated Wave solution.
I do not have a complete picture, so I will admit the above is based on very limited information.
Cartoon,
I saw that the other day. Tough to read into social media connections. They can be deep, at the surface or the result of having a lot of time. I presume something is cooking...I just don't know what.
Very funny guys...I laughed. However, my point got lost. The Dong was associated with Steven. I don't know what is going on here.
The CEO and CFO bought in the 1.40s. I truly think Bill thinks he has something. He continues to gain credibility in my book. I think his word currency is currently par with the Canadian dollar. It could be stronger if there was more to measure it against. We had dipped to Vietnamese Dong territory not too long ago. In the next few months we will head toward the Kuwaiti Dinar or back to Mexican Peso territory. At minimum, I think the Dong is in the rear view mirror.
Many inexplicable decisions in the corporate world occur with mind-boggling costs associated with them, some combination of ignorance/naivety and selfishness would not surprise me. There tends to be more bad decisions made when other people’s money is at stake.
Just like with kids, when there is no consequence for bad decisions, bad decisions tend to be repeated. If you simply look at facts, it is not too pretty.
I don't think it was that nefarious, but then again who knows. The problem stems from the fact that old leadership struggled to manage/lead what was already in house…not a good candidate to make acquisitions. When balls are already being dropped, the outcome of adding another is simple math.
I think it was an attempt to bridge blended environments. What do you do when a customer has a blended environment? Presumably the Safend acquisition gave them a complete solution.
The fact that it took 3+ years to fully integrate a 20+ person firm portends lack of focus or a philosophical approach that is obscure. I do not know if things were in motion when Bill took over, but at present, I do not see Safend and I believe that to be a good thing. This in itself is not going to move product, but it smells like a plan.
What is a Microsoft? Names that are too specific may not be complimentary to future developments. I am indifferent to Wave, Microsoft, Apple, Cisco, IBM (International Business Machines -- too restricting) , Berkshire Hathaway, Exxon. If Wave properly markets its products and actually sells, the name will be of concern to only the pickiest.
It looks like Wave has finally branded Safend products as Wave products. The product offerings are starting to look more harmonious as a suite of products from a single company. By appearance, the two companies previously had a firewall in between. I do not know if one existed operationally.
http://www.wave.com/products
Dig
a developed market is one that requires execution. There is the dream and there is reality. The dream is full of ideas, energy and only theoretical resistance. Anything can be achieved in the dream.
I think I follow…you are upset they were incorrectly correct because they did not see what you saw, because if they would have, you could have made a quick buck? Interesting. Let's see what happens if the company actually sells something.
a lot of suspicion, but little conviction = close to the vest or bad inference. There was one metric the old Wave always tripped on: reality. Is the new Wave different? New Wave, were you that prescient with your handle?
Exactly,
well said.
It would not surprise me if some of the cynicism was the result of direct knowledge, ex employee, contractor, friend of employee, current employee, etc... Reality indicates that instead of ducks, it was Elmer Fudd in the bushes with a duck caller. I honestly do not mean that disparagingly to the old CEO...truly.
Facts are a large mess was created. Pipeline didn't mean pipeline, cool meant I like it, but cannot sell it and profitability was specific to people whose last name started with S, ended with E and had PRAGU in between.
Dig,
like a lot of things that are not run properly, there are many little things that add up. Including pricing, software usability, support, sales direction, marketing, accountability, credibility, strategy, cohesiveness, communication, execution, etc...and ultimately leadership. A lot needed to be fixed. Fixing a single area, left a lot still broken.
So far, Bill has taken a thoughtful approach and has addressed many concerns. A good leader provides a solid framework and positions the entity they lead for success.
Hopefully these guys can debut a reference client with the roll out of VSC. More importantly, I think any sales from the new crew will be matched with sales momentum and continuity…you know, the common sense expectation that was expected from the old crew. Logic may once again prevail and be useful.
Microsoft: Security a CEO level decision and issue
COO Kevin Turner: Microsoft Won't Give Feds Unfettered Access to Data
http://redmondmag.com/blogs/the-schwartz-report/2014/07/unfettered-access-to-data.aspx
...While not addressing former NSA contractor Edward Snowden by name, it was a firm and public rebuke to accusations last year that Microsoft provided backdoors to the government. Turner acknowledged that despite its 12-year-old Trustworthy Computing Initiative, its Security Development Lifecycle and a slew of other security efforts, Microsoft needs to (and intends) emphasize security further. "When you think about the cyber security issues, there's never been an issue like this past year," Turner said. "It is a CEO-level decision and issue."
Turner talked up Microsoft's existing efforts including its ISO standard certifications, operational security assurance Windows Defender, Trusted Platform Module, Bitlocker and various point products. He also played up the company's higher level offerings such as assessments, threat detection response services and its digital crimes unit.
Microsoft has other security offerings and/or efforts in the pipeline, Turner hinted. "We will continue to strengthen the encryption of customer data across our network and services," he said. "We will use world-class cryptography and best-in-class cryptography to do so."
I do not mean to be facetious, but I think some of the same people who purchased above where the old CEO sold, have sold below where the new CEO purchased. I could be wrong. Hype <> substance. I think some would rather the CEO sell dreams rather than product. Since the current CEO is not selling the former, let’s hope he is laser sharp on the latter.
Nonmorebanksers, no dilution is occurring.
Blue2,
considering Wave is not selling shares, the motivation for posting a phony position is difficult to discern. Basically, the company would be lying to lie. Usually there is a motivation for lying or misrepresenting. A sneaky post to get shareholders off his back seems far fetched, but I guess stranger things have happened. I presume it was posted out of need.
Blue, the same due diligence that applies to any other company should apply to Wave. Bill Solms has as much as common with Steven Sprague as you do. Two different people, different perspectives, different backgrounds, etc. The only common denominator is sequential holding of the same post.
New to me:
this was previously done by an intern working every other Friday from 8 a.m. to 8:30 a.m (ha ha):
http://www.wave.com/jobs/fulfillment-specialist
Fulfillment Specialist
Home › Fulfillment Specialist
Position based in Lee, MA (Springfield, MA Area) (Albany, New York Area)
The Fulfillment Specialist is responsible for the daily processing of customer orders including the delivery of the software license and other various accounting related duties. The daily activities require significant attention to detail resulting in accurate processing and data entry.
Primary Responsibilities:
• Processing orders and key requests
• Invoicing orders processed
• Creating renewal quotes and related invoices
• Accounts receivable follow up
• Cash receipts posting
• Other special projects within accounting as deemed appropriate
Minimum Qualifications:
• Associates degree or higher
• Proficient in MS Office
Additional Information:
• Type: Full-time
• Experience: Entry level
• Functions: Administrative, Accounting/Auditing
• Industries: Computer Software
An Equal Opportunity Employer, Wave offers competitive salary and benefits. Flexible Hours.
Contact:
Please email resumé and salary history requirements to recruiting@wavesys.com or fax to (413) 243-7095.
.
About Wave Systems Corp.
Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainty of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the hardware security capabilities built directly into endpoint computing platforms themselves. Wave has been among the foremost experts on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.
Runway:
One of the benefits of having runway is the ability to stay focused on selling product, not shares. Focus should be laser sharp.
FYI,
that is truly not meant as a dig at the former CEO...it is meant as a stand alone statement.
There has been a lot of chatter about the former CEO. He clearly disappointed a lot of Wave investors. All considered, I wish him well on his new venture. Hopefully he makes the right decisions on a go-forward basis on the line between old and new. From my perspective, he is very indebted to Wave investors.
Even more meaningful, from my understanding, he was not raised like one.
A link...
To Bill's stock purchase: https://www.sec.gov/Archives/edgar/data/919013/000117911014008742/xslF345X03/edgar.xml
I believe this has as much meaning as Steven's sales.
Dig,
frustration is generally a universal human emotion when common sense is ignored. Wave used to be bizarro world. A loose collection of thoughts centered around trusted computing where common sense was ignored. Wave is transforming itself into a company. If the products/concepts are good, amazing things can still be accomplished. Engaged people produce much, much different results.
Sales continuity
After the GM, BP, BASF SED sales, it was reasonable to expect that prior leadership would have pushed hard to continue momentum. As it turns out, it sounds like these sales sort of fell into Wave's lap and there was no hard press to build on what had been sold.
My expectation with current management is to get some initial traction and build on it. My expectation is that current management will continue to refine the software. My expectation is the current management will listen to what customers want. My expectation is that the current management will be mindful of the balance sheet. My expectation is that management will continue to innovate. My expectation is that management will use some common sense to run the business. My expectation is that words will be thoughtfully chosen and expectations will be met or beat.
The fallacy of the old Wave is that they were building on prior sales. My expectation is Bill and co will capture the momentum and build sales continuity once they gain reference sales.
New Wave,
the former CEO liked ideas better than products. If you do not truly invest in products, you have no intention of changing from a project to a company. Perhaps he was addicted to the notion that ideas fund companies...it worked for a long time.
Dilution has stopped.
Dig,
I have not seen anyone professing love for the new management. Bill is taking the necessary steps that may enable shareholders to trust his words. Obviously at the end of the day he still needs to deliver.
At this possible inflection point, I believe the former leadership would have been investing in a new opportunity called Rivets right about now. Bill is investing in products that can sell today.
Cartoon, the formula for not being trustworthy is simple. Hopefully Bill has this understanding.