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TheStreet Open House

Tibco's Trying to Turn it Around

Stocks in this article: TIBX ORCL IBM DATA CRM SAP

NEW YORK ( TheStreet) -- Vivek Ranadivé, Chairman and CEO of Palo Alto, Calif.-based data management and analytics software company Tibco Software (TIBX - Get Report) recently told TheStreet in an interview that he's confident the firm is on track to becoming a $2 billion a year company.

With that said, he also attributed the company's latest quarter's ho hum results as part of an adjustment period related to the big overhaul of its Americas sales group that Ranadivé assured will help eliminate the big flaw that was holding it back from its full potential: sales execution.

"I never make excuses and I don't blame the environment for any company setbacks," said Ranadivé. What he's determined to see going forward is the company taking a laser-sharp focus on maximizing Tibco's ability to put on full display the superiority of its real-time platforms, over those of rivals such as Oracle (ORCL - Get Report) and IBM (IBM - Get Report). The company recently added more cloud services to its suite, providing something extra for customers. In May, Tibco launched its Tibco Cloud Bus integration platform as a service that's expected to help customers drastically lower business expenses.

"What we need to do is we need to keep showing our value-add and fine-tuning our processes," he asserted.

In this excerpt of TheStreet's interview with Tibco's CEO, Ranadivé discusses the company's edge in the way of cloud, big data analytics, Europe and its much anticipated deal pipeline.

Andrea Tse: Is the worst behind you in the Americas?

Vivek Ranadivé: We were finding that the bigger competitors like Oracle and IBM had won some deals against us even though we had technically won. While what Tibco had was better for customers, what they had was good enough. So now we're adjusting for that. We're focusing on our flow of execution. We're demonstrating to customers that good enough is not enough. We need to keep showing our value-add and fine-tuning our processes.

Ranadivé: We feel that in the Americas the worst is behind us. We have strong leadership. We have focus on the processes. Now we're in the position to do really well in the Americas. What we did is we put in new leadership and then we changed some of the players in some key sectors. And then also we looked at the entire sales process from A to Z. We have retrofitted that whole process and we feel very, very confident that this is something that will pay dividends.

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