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Open Text Corp. - Analyst/Investor Day

Again, a day 1 observation of OpenText. Growth and consistency, strong earnings, revenues, cash flows, great CAGRs over that period of time. This remains an absolute priority. As we set out to grow organic license faster than we have done historically, we are not going to do that at sacrificing this great growth and consistency and financial platform that we've had within the business.

Another day 1 observation, moving on to a go-forward priority, is that our organic license growth has been below market rates. We set out on a track to be at or above market rates for our organic license. Number one lever for the company is to grow organically our license at or above market rates. And you'll hear from us today how we intend to set out to go do that. We're clearly a proven acquirer, again, a day 1 observation of applying $2 billion in capital over that decade, over the last 10 years. We will continue to acquire. It remains a priority for the company as we look at each of our categories to continue to build scale in the categories of scale in the company.

Innovation, day 1 priority. I'd say a bit siloed and a bit incremental, all right? And it is more of a critique versus a criticism that I'd say we looked a bit more within each of our categories and a bit more in incrementalism and capabilities. So I think you'll hear today from Muhi that we're looking at a bit more of an integrated strategy and a bit more strategic approach to driving forward our product category.

And again, day 1 observations, we were structured in what I call the general management/business unit model. And in April, we transitioned to the company to a functional model. And that functional model is where our functional owners own each of the functions. Our geographic leaders in each of our big geos, EMEA, America, APJ, were responsible for CS, they were responsible for PS, they were responsible for sales operations, they're responsible for field marketing, and they're also responsible for license. We felt that, that wasn't quite the structure to really get organic license growth moving, so we transitioned that to a functional model where we have 1 leader for worldwide CS. He's here with us today, James McGourlay. James has 15 years of experience at OpenText, and is leading worldwide CS for us. That's our maintenance business as well as tech support. We consolidated our Professional Services business under 1 leader, Walter Köhler, who's now leading worldwide PS. We consolidated all our marketing functions under our marketing lead, James Latham. And we set up a traditional enterprise selling structure with a capstone of bringing Greg Corgan on board to lead field operations. So this is one of the larger changes we've made in April, and we enter our fiscal '13 executing against that model.

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