The product has built in social media monitoring, but we bring all of that to the enterprise, in an enterprise readied fashion with all of the requirements around security, commissioning, compliance particularly in regulated industries like U.S. The screenshots on the right are examples of how customers theme our products as they deploy it internally and externally to make it look like their brand, the last screen being the generic Jive screen as it would appear to an employee facing system.You might ask why we use it since we’re all consumed with social networking as a place to go to get anything, but work done. I can assure you that everyone at Jive, 710 paying customers, pays us to get work done with our system; it’s all about collaborating more effectively. this is a set of surveyed data from over 500 Jive customers that we did about 18 months ago, we’re in the process of re-doing it on the heals of the McKinsey’s survey that was just done here in the last months or so where employees were found to waste about 28 hours out of the 40 work week, doing things like e-mail and attending meetings and doing anything, but moving innovation along, sales pursuits and marketing projects and the like. Customer satisfaction goes up the way that which people interact with one another and a very productive way goes up, win rates go up, when it’s deployed inside sales and service organizations, you do less of searching for information if Google has taught us anything as that people get inside applications and they start searching. They search for the person, the topic, the presentation, the answer, the expert to the question they might have, support calls go way down, when you deploy an external community, where you can reflect the first call to consumers and peers of one another answering those questions and ideally e-mail goes way down. We have surveyed our customers to the tune of almost 30% or less e-mail that’s consumed inside the enterprise.
So I’d say in summary, and then we can get on with the questions and answers. It’s a massive market opportunity. We’d talk about a $26 billion market and the part of that that’s collaboration proper was about $8.4 billion. There are lots of dusty old enterprise portals and corporate intranets that are lying around, not being used by employees, trying to become more collaborative and become more productive in the workforce.Jive is the clear market leader anyway you want to cut it, a number of paying customers, Gartner Magic Quadrant Leader, Forrester Wave leader. The clear choice from a technology breadth and depth in our platform, the ability to deliver it on mobile platform, the ability to deliver it out of the cloud as well as on a private premise cloud for our regulated industry customers. It’s disruptive; the ability to deliver this kind of social software into the enterprise is new. It is different. It represents a massive opportunity for all enterprise software companies, but Jive as the market leader is holistically focused on just this aspect, it’s high growth, we reported in the second quarter greater than 50% revenue growth and greater than 40% billings growth. And we have a very strong and experienced management team, which is the third public software company that I’ve led. I’ve been on Jive’s Board for the last five years. I became CEO at the beginning of 2010. We’ve recently added Jay Larson to our management team. Jay was the former Head of Worldwide Field Operations at SuccessFactors having worked for me prior to that at Mercury Interactive for a number of years. Read the rest of this transcript for free on seekingalpha.com