Interwoven: Upgrade Angst

By Baselinemag  |  Posted 2005-05-04 Email Print this article Print
 
 
 
 
 
 
 

Interwoven's software has been exceptionally difficult to upgrade, some say; others are satisfied and praise the company's support.

Interwoven's content management software works just fine—but trying to upgrade it can be a waking nightmare, say some customers.

"We've run into nothing but problems" with upgrades, says Rick Peltz, chief information officer for commercial real estate investment brokerage Marcus & Millichap. "It's horrible." In July 2002, Peltz deployed the WorkSite collaborative document system (then sold by iManage, which Interwoven acquired in 2003). The idea was to provide a Web-based collaboration tool for the firm's 900 agents to exchange documents with prospective clients.

Since then, Marcus & Millichap has upgraded the software three times. Each time, Peltz says, the upgrade failed to work and the firm had to pay for Interwoven's professional services to complete the installation. "My feeling is they don't have a well-defined [quality assurance program] to test the upgrades," Peltz says. He plans to replace WorkSite with Microsoft's SharePoint document-sharing server.

Interwoven's Web content management system, TeamSite, also has been difficult to upgrade, according to Kevin Mayes, director of global knowledge management for Aon. The insurance brokerage and consulting firm first rolled out TeamSite in 1999. "Every upgrade we've gone through has been a humongous effort," he says. Aon's upgrade two years ago to TeamSite 5.5 took three months; Mayes had thought it would require less than a month. "We got some incremental good stuff, but nothing in comparison with the pain," he says.

Kevin Cochrane, Interwoven's vice president of Web content management, acknowledges some older versions of its software required "a number of days of migration planning," but that recent releases have been easier to upgrade. "We've come a long way," he says.

And to be sure, some Interwoven customers say upgrades have been routine. "There have been little glitches, but we've caught 99% of them during testing," says Robert Buttacavoli, head of Mercer Human Resource Consulting's technology practice.

Another contented content manager: Craig Wilson, manager of information systems at Winthrop & Weinstine, a Minneapolis law firm that uses WorkSite. He says the software is easy to use—letting employees set up sites to share documents with clients in less than 15 minutes—and that his dealings with the company have been trouble-free. As Wilson puts it: "Interwoven's support is superior."

Enterprise Content Management

Interwoven
803 11th Ave.
Sunnyvale, CA 94089
(408) 774-2000
www.interwoven.com

TICKER: IWOV (NASDAQ)

EMPLOYEES: 696

Martin Brauns

Chairman, CEO

Before joining the company in March 1998, he was vice president of North American sales at database vendor Informix (now part of IBM).

Steve Martello
Senior VP, Client Services
Previously in charge of managing teams at Internet consulting firm Scient, which filed for bankruptcy in 2002. Before that, he worked at IBM for 17 years in software development, product management and services roles.

PRODUCTS

WorkSite document management software includes version control, full-text search and document-level security, plus additional workflow and collaboration features. TeamSite provides similar capabilities for publishing Web-based content.

Reference Checks

Aon
Kevin Mayes
Dir., Global Knowledge Management
kevin_mayes@aon.com
Project: Insurance brokerage and consulting firm uses TeamSite to manage content on its intranet and public Web sites, which include 90 country-specific sites.

Winthrop & Weinstine
Craig Wilson
Mgr., IS
cwilson@winthrop.com
Project: Law firm in Minneapolis first deployed WorkSite in 2000 to store documents, e-mails and voice-mail messages associated with cases.

Mercer Human Resource Consulting
Robert Buttacavoli
Global Leader, Client Technology Services
robert.buttacavoli@mercer.com
Project: New York consulting firm uses TeamSite to publish content on customer Web sites.

Russell Investment Group
Karl Porter
Mgr., Business Applications
(253) 572-9500
Project: Financial services firm in Tacoma, Wash., uses TeamSite to manage its public Web site and 50 extranet sites for partners.

Marcus & Millichap
Rick Peltz
CIO
rpeltz@marcus-millichap.com
Project: Real estate investment brokerage in Encino, Calif., originally deployed WorkSite to collaborate with clients but plans to use it to manage legal documents instead.

Blue Cross Blue Shield of Rhode Island
Jennifer O'Meara
Dir., Web Services
o'meara.j@bcbsri.org
Project: Health insurance provider publishes content to its public Web site and intranet using TeamSite.

Executives listed here are all users of Interwoven's products. Their willingness to talk has been confirmed by Baseline.

Interwoven operating results*

2005YTD 2004 2003
Revenue $42.49M $160.39M $111.51M
Gross margin 68.2% 67.7% 66.2%
Operating loss -$0.66M -$24.41M -$49.86M
Net loss -$0.25M -$23.67M -$47.53M
Net margin -0.6% -14.8% -42.6%
Loss per share -$0.01 -$0.58 -$1.72
R&D expenditure $8.09M $30.83M $24.61M

*Fiscal year ends Dec. 31; YTD reflects first three months

Source: company reports Other Financials**

Total assets - $392.56M

Stockholders' equity - $289.81M

Cash and equivalents - $58.65M

Short-term investments - $82.46M

Long-term debt - None

Shares outstanding - 41.14M

Market value, 4/25 - $346.56M

**As of March 31, 2005, except as noted



 
 
 
 
 
 
 
 
 
 

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