Introducing Infor
With 37 acquisitions and $2.2 billion in revenue in the past seven years, Infor CEO and Chairman Jim Schaper is taking his Alpharetta-based company center stage.
by Allison Shirreffs
October 29, 2009
Before the bottom fell out of the economy, Jim Schaper was preparing to take the company he runs public. Schaper, the CEO and chairman of the enterprise software company Infor Global Solutions Inc., confesses to having "mixed emotions" about pulling the plug on the company's impending IPO, but he didn't spend much time being disappointed. Instead, he's used Infor's additional pre-IPO time to improve things and make the company more attractive to investors when it goes public.
The one constant is that Schaper wants to continue to grow the company. Infor has a penchant for acquisitions, scooping up the latest of its 37 with the $80 million purchase of SoftBrands this past June. While the slumping economy may have caused Infor to temper the speed at which it acquires other companies, Schaper is always looking. "I love to make deals," he says. As a result, the company, which launched in 2002 as Agilysys and became Infor in 2004, made a steady climb from a $35 million vendor of process manufacturing systems to one of the world's largest suppliers of enterprise software in less than seven years.
Sharing the enterprise (ERP) software stage with brands such as SAP and Oracle is no small accomplishment, which makes Schaper proud of Infor's brisk rise to the top. But when he tells people where he works, he's over having people stare at him like he's asking for directions to a place they've never heard of. "It's frustrating as hell," he says.
Here's why: Infor, the Alpharetta-based company, collected $2.2 billion in revenue in 2008, employs well over 8,000 employees (629 in the Alpharetta location) and serves 70,000 customers in more than 100 countries. According to Softwaretop100.org and AMR Research, Infor is a solid top five global ERP software player, falling behind only Germany's SAP, California's Oracle, and the U.K.'s Sage Group. Infor even finishes ahead of heavyweight Microsoft.
His frustration aside, Schaper admits it was a mistake to keep costs low by spending little to nothing on corporate marketing. That lack of effort may have helped maintain individual brand loyalty, as well as the customers Infor gained when it acquired other software companies, but it came at a cost. Customers know the names of the products they're using - customer resource management (CRM) software Epiphany, accounting software Baan or ERP software MAPICS - all members of the Infor arsenal.
But those same customers don't know much, if anything, about Infor itself. "Our customers identify with a product, but not with the name of the company," Schaper says. "The decision I made not to invest in external branding was a short-sighted and stupid decision, and the effect it had on our field personnel was profound. They have to spend an hour discussing who we are."
The Dude Shall Abide
This November, Infor will launch a $20-million, 12-month marketing campaign that Schaper believes will go a long way to rectify his oversight. The company recently hired "one smart dude," says Schaper, as Infor's chief marketing officer. That "dude" is Robert Humphrey, best known in marketing and IT circles for having helped rebrand security technology company McAfee Inc., and build the brand of i2 Technologies Inc., a supply chain management software and services company.
Humphrey has been around the software block a few times. But earlier this year when told by a colleague that Infor was embarking on a branding campaign and he should contact the company, Humphrey responded by asking - in all seriousness, "Infor what?"
The marketing campaign was under way when Humphrey joined Infor in August. As he surveys the feedback, he is pleased with all the positive comments from customers. As for the Infor management team, they are "pumped and excited" to see their ads prominently displayed in airports, The Wall Street Journal, USA Today, Fortune magazine and online. The ads convey the company's new slogan, "There is a better way ... Infor."
"We're trying to position ourselves - without saying any names - in the same conversation with Oracle and SAP, but [explain] that we're very different," Humphrey says. The difference? Humphrey says it's in the way the company approaches and deals with its customers and how it keeps products alive longer than any other software company he has ever seen. "It's completely in the face of the way the industry is run."
Infor does have its share of Fortune 500 clients - American Express, The Boeing Company, Flextronics, Gap Inc., among them - but 85 percent of its customers operate in the mid-market, posting sales in the $50 million to $1 billion range. The ads highlight the fact that Infor may grace top five lists alongside "Big ERP," but the ads make it clear that Infor isn't Big ERP like Oracle, which tallied 2008 revenues of $23.25 billion and an employee base of 86,000; or SAP, which posted 2008 sales of $16.3 billion and more than 51,000 employees. In fact, Infor does behave like Big ERP.
The stars of the ads are a pair of cartoon characters meant to represent, what Schaper deems, "what's wrong" with the ERP industry. The characters sport cigars, big bellies, wear suspenders and pinstriped suits, flash smirks and steamroll the "little guy." The tag line: "How many zeros do you need in your revenue before Big ERP stops treating you like one?"
The ad is "stamped" with the phrase, "DownWithBigERP.com." Anyone who bothers to enter "DownWithBigERP.com" in his browser will be directed to Infor.com. "I think [the campaign] fits the personality of the company," Schaper says. "It's light-hearted and fun."
Infor, like other software companies, plans to make all its new products "software as a service (SaaS)" enabled, but it's Infor's approach to "services oriented architecture" or SOA that Schaper believes will shake up the industry. Infor's SOA architecture is primarily open source, not proprietary. "We're changing the way the industry has typically treated the customer. We're providing customers the ability to move from an old to a new platform without paying anything for it," he says. "It sends a strong message to the industry that we're not like everybody else."
Building Long-Term Customers
Because the company inherits most of its customers via acquisition, Schaper works diligently to make sure those customers become long-term Infor customers. He claims the company's retention rate of acquired customers is 95 percent. There are good reasons for the high retention rate. One, Infor "doesn't sunset products," Schaper says. "We may not invest in all the products the same, but we don't orphan customers."
Additionally, Infor provides consistency in terms of which customers deal with post-acquisition (the same people the customers dealt with before the acquisition). Infor also offers them additional solutions "they didn't have an opportunity to acquire from the previous [management] team," Schaper says.
And Infor is making those additional solutions easier and cheaper to obtain.
While Infor generates about half its revenue from maintenance, it also generates revenue from licensing its software and providing professional services. More than 2,000 of Infor's employees are developers, and, the thinking goes, the solutions they create will attract new customers to Infor and motivate existing customers to upgrade to the new products. If those customers sign up for maintenance contracts with Infor, they can subsequently upgrade or exchange applications for little or no cost - and do so when it makes sense for them.
There's a good reason Schaper is focusing on maintenance revenue. It gives the company a recurring revenue stream that is less susceptible to economic swings (customers tend to buy less software as well as cut back on services when things get tight).
Infor will back up its marketing campaign with demand generation activities aimed at educating customers. "You can only do so much with ads," Humphrey says. "It's our job to educate [the customers] on how we're different." A year from now, Humphrey believes he'll be armed with metrics that demonstrate the success of the campaign, but he'll consider it successful if "our sales reps aren't spending the first hour of the conversation explaining who we are."
They'll be a branding push internally to remind employees that Infor is part of a conversation that includes SAP and Oracle, but that the way it treats, and what it offers, customers sets Infor apart. There's also an internal contest to name the characters in the ad campaign.
The marketing campaign isn't the only thing Infor is rolling out. Schaper describes Infor's business landscape as "high transaction volume, low transaction value," and the vast majority of Infor's transactions are small - "under $35,000," he says. But until recently, the company was better suited for low volume and high value transactions. Last year, Schaper committed to building an inside sales force. Now 250 employees strong, Schaper admits the company won't see tangible financial benefits as a result of the inside sales force until later this year and into next, but early reports from customers indicate the sales force is doing its job.
"Up until we formed that [inside sales] group, we were touching about 14,000 to 15,000 customers each year. That's unacceptable," Schaper admits. "Now we're touching 15,000 a month." The ability to connect with customers, analyze their needs and make adjustments "has been a boon for us."
During the recession, notes Bruce Richardson, chief research officer of AMR Research, companies stopped buying traditional comprehensive business systems and opted to buy them as a service or SaaS. "It's one thing to talk about marketing or SOA, but you really have to accelerate your deployment options," he says.
Boosting customer contact and improving intangibles is great, says Richardson, but ultimately, it's "features and functionality" that will win Infor customers and take it from a $2.2 billion company to a $3 billion company. "To do small deals, $35,000 deals, is not going to be good enough," Richardson adds.
Not that Infor has to land mega-sized clients to be successful. Richardson believes that if "fast-growing mid-sized companies" select an Infor product over one from SAP or Oracle, "Jim will get a ton of mileage out of that," Richardson says. "Customer retention is critical, but growth is more important to his success."
As the head of a private company, Schaper is able to make decisions he knows won't show a return on investment without some patience, something Infor's notable and publicly-traded competitors have a bit more trouble doing. Infor's long-term financial partner is Golden Gate Capital, a private equity firm based in San Francisco. Schaper is an operating affiliate at Golden Gate. As Golden Gate has funded the majority of Infor's acquisitions, justifying his decisions to members of a private equity firm he helps steer might be preferable to explaining those decisions to Wall Street analysts.
That said, Schaper still believes an IPO is the best exit for the company and will offer investors the highest rate of return in the long run. As Infor moves toward that, it's defining not only its external brand, but working to define Infor's corporate culture as well. "One of the challenges Jim has is there really is no Infor culture," says Bruce Richardson, chief research officer of AMR Research. "Each one of the companies he bought had its own way," Richardson adds - its own sales cycle, its own style and its own way of closing deals. "Now there's one way - the Infor way."
The Green Beans Brigade
A father of two adult daughters, Schaper's youngest went to work for Infor right out of college. She asked her father why there weren't many employees her age at the company. "That got us thinking," he recalls.
As a result of that conversation, Infor launched its "Green Bean" program, something Schaper has come to call the "fabric of our business." Infor hires young college graduates who are mentored by Infor employees who've been trained and certified, "to handle a couple of Green Beans." (A two-time All-American track star at the University of South Carolina, Schaper has a soft spot for collegiate athletics and more than a few of Infor's Green Beans are former athletes.)
When Green Beans hit certain objectives, the mentors are rewarded. "It creates a sense of culture and community," Richardson says. "Hiring kids out of school, teaching them and indoctrinating them in the Infor way - it's a very clever program."
To date, the company has produced 250 Green Bean graduates, and they can be found in all aspects of the business - financial, service, inside sales, development, support - all across the globe. Schaper is thrilled with the way the program has worked out. "[The Green Beans] get up to speed quicker. They grew up with technology. They understand social networking and they have infectious attitudes," Schaper says.
When Schaper first approached his management team about the Green Bean program, a few of them weren't sold on it. He admits he "forced [the program] down the throats" of his management team. Considered smart, charming and quick witted by those who know him, as a leader, Schaper can be demanding and exacting. "I have a bit of a temper," he explains. Schaper doesn't micro-manage, but he pays attention to details. "I don't forget what people tell me," he says. "I'm aggressive. I do hold people accountable."
Looking in the Mirror
It's clear that Schaper holds himself accountable as well. He believes he's made two big mistakes at Infor - discounting the power of external branding and not getting a handle on infrastructure costs earlier - and over the course of the past few years, he's been on a mission to make up for them, the marketing campaign being his latest attempt at doing so.
Though the economy prompted Infor to reduce its workforce by five percent, the company has cut costs and shifted employees' roles in an effort to keep people on board. And while it was costly to do and not without its challenges, the company recently took the time to integrate its own back office, which had been saddled with over 100 systems following the company's many acquisitions. Today, there is only one back office system.
Schaper characterizes himself as accessible, but concedes that's become more difficult as the company has grown in size. Once a year, he makes a trip around the world, updating Infor employees at offices in Asia, Europe and the United States. He holds town hall meetings and listens to his employees. "There is no PowerPoint," he says. "I ask them what they want to know."
Noting he's "not into corporate politics," Schaper has worked to flatten Infor's organizational structure. One of the reasons he's done so is that he's "gotten much farther in life" than he thought he would. "I don't forget how I got here," he says. "It's all blind luck and a good team."
Infor's IPO may be a ways off, but Schaper believes it's all but inevitable. If and when the company does go public, it would offer Schaper, who is in his mid-50s, an opportunity to retire. While he volunteers that he'd like to play more golf than he currently does and that the home he and his wife recently built on the South Carolina coast is "our favorite place on earth," he's retired twice before and it didn't last. "I go mentally stale pretty quickly," Schaper says. "I love what I do and as long as I can add value and my health is good, I don't know why I wouldn't do this."
Retired or not, perhaps ones day in the not so distant future, Schaper will be walking on a beach in South Carolina and strike up a conversation with a new neighbor. When asked what he does for a living, he'll say, "I run a company called 'Infor,'" and the neighbor will reply, "Oh, yeah. That's the software company that's not like the other guys."
(source: Allision Shirreffs, 2009, "Introducing Infor", Business to Business, viewed on 12th November 2009, http://www.btobmagazine.com/Articles/2009/November_Issue/Introducing_Infor.html)
by Allison Shirreffs
October 29, 2009
Before the bottom fell out of the economy, Jim Schaper was preparing to take the company he runs public. Schaper, the CEO and chairman of the enterprise software company Infor Global Solutions Inc., confesses to having "mixed emotions" about pulling the plug on the company's impending IPO, but he didn't spend much time being disappointed. Instead, he's used Infor's additional pre-IPO time to improve things and make the company more attractive to investors when it goes public.
The one constant is that Schaper wants to continue to grow the company. Infor has a penchant for acquisitions, scooping up the latest of its 37 with the $80 million purchase of SoftBrands this past June. While the slumping economy may have caused Infor to temper the speed at which it acquires other companies, Schaper is always looking. "I love to make deals," he says. As a result, the company, which launched in 2002 as Agilysys and became Infor in 2004, made a steady climb from a $35 million vendor of process manufacturing systems to one of the world's largest suppliers of enterprise software in less than seven years.
Sharing the enterprise (ERP) software stage with brands such as SAP and Oracle is no small accomplishment, which makes Schaper proud of Infor's brisk rise to the top. But when he tells people where he works, he's over having people stare at him like he's asking for directions to a place they've never heard of. "It's frustrating as hell," he says.
Here's why: Infor, the Alpharetta-based company, collected $2.2 billion in revenue in 2008, employs well over 8,000 employees (629 in the Alpharetta location) and serves 70,000 customers in more than 100 countries. According to Softwaretop100.org and AMR Research, Infor is a solid top five global ERP software player, falling behind only Germany's SAP, California's Oracle, and the U.K.'s Sage Group. Infor even finishes ahead of heavyweight Microsoft.
His frustration aside, Schaper admits it was a mistake to keep costs low by spending little to nothing on corporate marketing. That lack of effort may have helped maintain individual brand loyalty, as well as the customers Infor gained when it acquired other software companies, but it came at a cost. Customers know the names of the products they're using - customer resource management (CRM) software Epiphany, accounting software Baan or ERP software MAPICS - all members of the Infor arsenal.
But those same customers don't know much, if anything, about Infor itself. "Our customers identify with a product, but not with the name of the company," Schaper says. "The decision I made not to invest in external branding was a short-sighted and stupid decision, and the effect it had on our field personnel was profound. They have to spend an hour discussing who we are."
The Dude Shall Abide
This November, Infor will launch a $20-million, 12-month marketing campaign that Schaper believes will go a long way to rectify his oversight. The company recently hired "one smart dude," says Schaper, as Infor's chief marketing officer. That "dude" is Robert Humphrey, best known in marketing and IT circles for having helped rebrand security technology company McAfee Inc., and build the brand of i2 Technologies Inc., a supply chain management software and services company.
Humphrey has been around the software block a few times. But earlier this year when told by a colleague that Infor was embarking on a branding campaign and he should contact the company, Humphrey responded by asking - in all seriousness, "Infor what?"
The marketing campaign was under way when Humphrey joined Infor in August. As he surveys the feedback, he is pleased with all the positive comments from customers. As for the Infor management team, they are "pumped and excited" to see their ads prominently displayed in airports, The Wall Street Journal, USA Today, Fortune magazine and online. The ads convey the company's new slogan, "There is a better way ... Infor."
"We're trying to position ourselves - without saying any names - in the same conversation with Oracle and SAP, but [explain] that we're very different," Humphrey says. The difference? Humphrey says it's in the way the company approaches and deals with its customers and how it keeps products alive longer than any other software company he has ever seen. "It's completely in the face of the way the industry is run."
Infor does have its share of Fortune 500 clients - American Express, The Boeing Company, Flextronics, Gap Inc., among them - but 85 percent of its customers operate in the mid-market, posting sales in the $50 million to $1 billion range. The ads highlight the fact that Infor may grace top five lists alongside "Big ERP," but the ads make it clear that Infor isn't Big ERP like Oracle, which tallied 2008 revenues of $23.25 billion and an employee base of 86,000; or SAP, which posted 2008 sales of $16.3 billion and more than 51,000 employees. In fact, Infor does behave like Big ERP.
The stars of the ads are a pair of cartoon characters meant to represent, what Schaper deems, "what's wrong" with the ERP industry. The characters sport cigars, big bellies, wear suspenders and pinstriped suits, flash smirks and steamroll the "little guy." The tag line: "How many zeros do you need in your revenue before Big ERP stops treating you like one?"
The ad is "stamped" with the phrase, "DownWithBigERP.com." Anyone who bothers to enter "DownWithBigERP.com" in his browser will be directed to Infor.com. "I think [the campaign] fits the personality of the company," Schaper says. "It's light-hearted and fun."
Infor, like other software companies, plans to make all its new products "software as a service (SaaS)" enabled, but it's Infor's approach to "services oriented architecture" or SOA that Schaper believes will shake up the industry. Infor's SOA architecture is primarily open source, not proprietary. "We're changing the way the industry has typically treated the customer. We're providing customers the ability to move from an old to a new platform without paying anything for it," he says. "It sends a strong message to the industry that we're not like everybody else."
Building Long-Term Customers
Because the company inherits most of its customers via acquisition, Schaper works diligently to make sure those customers become long-term Infor customers. He claims the company's retention rate of acquired customers is 95 percent. There are good reasons for the high retention rate. One, Infor "doesn't sunset products," Schaper says. "We may not invest in all the products the same, but we don't orphan customers."
Additionally, Infor provides consistency in terms of which customers deal with post-acquisition (the same people the customers dealt with before the acquisition). Infor also offers them additional solutions "they didn't have an opportunity to acquire from the previous [management] team," Schaper says.
And Infor is making those additional solutions easier and cheaper to obtain.
While Infor generates about half its revenue from maintenance, it also generates revenue from licensing its software and providing professional services. More than 2,000 of Infor's employees are developers, and, the thinking goes, the solutions they create will attract new customers to Infor and motivate existing customers to upgrade to the new products. If those customers sign up for maintenance contracts with Infor, they can subsequently upgrade or exchange applications for little or no cost - and do so when it makes sense for them.
There's a good reason Schaper is focusing on maintenance revenue. It gives the company a recurring revenue stream that is less susceptible to economic swings (customers tend to buy less software as well as cut back on services when things get tight).
Infor will back up its marketing campaign with demand generation activities aimed at educating customers. "You can only do so much with ads," Humphrey says. "It's our job to educate [the customers] on how we're different." A year from now, Humphrey believes he'll be armed with metrics that demonstrate the success of the campaign, but he'll consider it successful if "our sales reps aren't spending the first hour of the conversation explaining who we are."
They'll be a branding push internally to remind employees that Infor is part of a conversation that includes SAP and Oracle, but that the way it treats, and what it offers, customers sets Infor apart. There's also an internal contest to name the characters in the ad campaign.
The marketing campaign isn't the only thing Infor is rolling out. Schaper describes Infor's business landscape as "high transaction volume, low transaction value," and the vast majority of Infor's transactions are small - "under $35,000," he says. But until recently, the company was better suited for low volume and high value transactions. Last year, Schaper committed to building an inside sales force. Now 250 employees strong, Schaper admits the company won't see tangible financial benefits as a result of the inside sales force until later this year and into next, but early reports from customers indicate the sales force is doing its job.
"Up until we formed that [inside sales] group, we were touching about 14,000 to 15,000 customers each year. That's unacceptable," Schaper admits. "Now we're touching 15,000 a month." The ability to connect with customers, analyze their needs and make adjustments "has been a boon for us."
During the recession, notes Bruce Richardson, chief research officer of AMR Research, companies stopped buying traditional comprehensive business systems and opted to buy them as a service or SaaS. "It's one thing to talk about marketing or SOA, but you really have to accelerate your deployment options," he says.
Boosting customer contact and improving intangibles is great, says Richardson, but ultimately, it's "features and functionality" that will win Infor customers and take it from a $2.2 billion company to a $3 billion company. "To do small deals, $35,000 deals, is not going to be good enough," Richardson adds.
Not that Infor has to land mega-sized clients to be successful. Richardson believes that if "fast-growing mid-sized companies" select an Infor product over one from SAP or Oracle, "Jim will get a ton of mileage out of that," Richardson says. "Customer retention is critical, but growth is more important to his success."
As the head of a private company, Schaper is able to make decisions he knows won't show a return on investment without some patience, something Infor's notable and publicly-traded competitors have a bit more trouble doing. Infor's long-term financial partner is Golden Gate Capital, a private equity firm based in San Francisco. Schaper is an operating affiliate at Golden Gate. As Golden Gate has funded the majority of Infor's acquisitions, justifying his decisions to members of a private equity firm he helps steer might be preferable to explaining those decisions to Wall Street analysts.
That said, Schaper still believes an IPO is the best exit for the company and will offer investors the highest rate of return in the long run. As Infor moves toward that, it's defining not only its external brand, but working to define Infor's corporate culture as well. "One of the challenges Jim has is there really is no Infor culture," says Bruce Richardson, chief research officer of AMR Research. "Each one of the companies he bought had its own way," Richardson adds - its own sales cycle, its own style and its own way of closing deals. "Now there's one way - the Infor way."
The Green Beans Brigade
A father of two adult daughters, Schaper's youngest went to work for Infor right out of college. She asked her father why there weren't many employees her age at the company. "That got us thinking," he recalls.
As a result of that conversation, Infor launched its "Green Bean" program, something Schaper has come to call the "fabric of our business." Infor hires young college graduates who are mentored by Infor employees who've been trained and certified, "to handle a couple of Green Beans." (A two-time All-American track star at the University of South Carolina, Schaper has a soft spot for collegiate athletics and more than a few of Infor's Green Beans are former athletes.)
When Green Beans hit certain objectives, the mentors are rewarded. "It creates a sense of culture and community," Richardson says. "Hiring kids out of school, teaching them and indoctrinating them in the Infor way - it's a very clever program."
To date, the company has produced 250 Green Bean graduates, and they can be found in all aspects of the business - financial, service, inside sales, development, support - all across the globe. Schaper is thrilled with the way the program has worked out. "[The Green Beans] get up to speed quicker. They grew up with technology. They understand social networking and they have infectious attitudes," Schaper says.
When Schaper first approached his management team about the Green Bean program, a few of them weren't sold on it. He admits he "forced [the program] down the throats" of his management team. Considered smart, charming and quick witted by those who know him, as a leader, Schaper can be demanding and exacting. "I have a bit of a temper," he explains. Schaper doesn't micro-manage, but he pays attention to details. "I don't forget what people tell me," he says. "I'm aggressive. I do hold people accountable."
Looking in the Mirror
It's clear that Schaper holds himself accountable as well. He believes he's made two big mistakes at Infor - discounting the power of external branding and not getting a handle on infrastructure costs earlier - and over the course of the past few years, he's been on a mission to make up for them, the marketing campaign being his latest attempt at doing so.
Though the economy prompted Infor to reduce its workforce by five percent, the company has cut costs and shifted employees' roles in an effort to keep people on board. And while it was costly to do and not without its challenges, the company recently took the time to integrate its own back office, which had been saddled with over 100 systems following the company's many acquisitions. Today, there is only one back office system.
Schaper characterizes himself as accessible, but concedes that's become more difficult as the company has grown in size. Once a year, he makes a trip around the world, updating Infor employees at offices in Asia, Europe and the United States. He holds town hall meetings and listens to his employees. "There is no PowerPoint," he says. "I ask them what they want to know."
Noting he's "not into corporate politics," Schaper has worked to flatten Infor's organizational structure. One of the reasons he's done so is that he's "gotten much farther in life" than he thought he would. "I don't forget how I got here," he says. "It's all blind luck and a good team."
Infor's IPO may be a ways off, but Schaper believes it's all but inevitable. If and when the company does go public, it would offer Schaper, who is in his mid-50s, an opportunity to retire. While he volunteers that he'd like to play more golf than he currently does and that the home he and his wife recently built on the South Carolina coast is "our favorite place on earth," he's retired twice before and it didn't last. "I go mentally stale pretty quickly," Schaper says. "I love what I do and as long as I can add value and my health is good, I don't know why I wouldn't do this."
Retired or not, perhaps ones day in the not so distant future, Schaper will be walking on a beach in South Carolina and strike up a conversation with a new neighbor. When asked what he does for a living, he'll say, "I run a company called 'Infor,'" and the neighbor will reply, "Oh, yeah. That's the software company that's not like the other guys."
(source: Allision Shirreffs, 2009, "Introducing Infor", Business to Business, viewed on 12th November 2009, http://www.btobmagazine.com/Articles/2009/November_Issue/Introducing_Infor.html)
