67 WALL STREET, New York - June 10, 2014 - The Wall Street Transcript has just published its Business and Application Software Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Cloud Computing Secular Trends - Application Software Consolidation Activity - Cloud Computing and SaaS Trends - Larger IT Systems Upgrades - B2B Recovery - Paradigm Shifts in Software - Software-Defined Data Centers - Business Services Capex Spending
Companies include: Jack Henry & Associates Inc. (JKHY) and many more.
In the following excerpt from the Business and Application Software Report, the Chairman and CEO of Jack Henry & Associates, Inc. (JKHY) discusses company strategy and the outlook for this vital industry:
TWST: Over the next 12 to 24 months, what's your agenda for the company?
Mr. Prim: We've got a pretty clear and narrowly focused strategy, and it is to continue to execute well in our traditional business, and provide those integrated accounting systems for banks and credit unions - which continues to be the heart of our business - and surround those applications with various complementary products that are needed.
For example, I might sell the accounting system to a bank to handle their deposit and loan, general ledger customer accounting, but they also need other products like an Internet banking system or a mobile banking system or a check-image-processing system. We have all those complementary products as well. Primarily, the strategy is to sell those integrated accounting systems surrounded with as many of the complementary products as we can.
Another part of our business, the ProfitStars division, is where we sell solutions to address a specific need, like a document imaging system or a remote check deposit system that customers can use with whatever accounting system they have. It does not have to be a Jack Henry accounting system for them to use those products. Even in that area, we have some products that we sell to the 30 or 40 largest financial institutions to whom we don't normally sell our accounting systems. We continue to focus in those areas, looking to grow the business. We're in a very competitive marketplace and a pretty mature industry, so every deal is hard-fought, and we win our share, but it's always competitive.
TWST: I'm interested in how the product mix might be changing in the near future with some of the changes in technology. For example, you mentioned Internet banking and mobile, and there is, of course, cloud-based systems, and Big Data has become a hot area. Do you see shifts in what your customers are asking for?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.