A very quick browse
Sales: As I stood before you last year, just a few months into the role as CEO, I already had determined that radical changes needed to take place in our sales effort. Our processes needed vast improvement, our sales talent wasn’t appropriate for this market, and our coverage was limited geographically. Over the course of
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the year, I have brought on a new veteran sales leader, retooled, or replaced existing sales personnel and expanded our coverage to a much broader US presence and international coverage including Korea, Japan, and Europe.
We also now further understand the length and complexity of an AI IP sales cycle; it is long, but we are on paths with several leading prospects. Even during this challenging economic environment, world class companies still innovate to exit the down cycle with solid plans for the future and while engagements are not closing at the pace we desire, it is important to note that we are not losing to others - it’s just taking longer.
Please be assured that I too am not satisfied with our sales results to date but am highly focused and doing everything possible to accelerate wins. Currently, the number and depth of quality engagements are substantially higher than one year ago today.
While the sales results are not there yet, I am confident these changes coupled with our marketing and new product development efforts will yield results. The market is there, our offering is strong and getting stronger—it’s a matter of time.
In summary, the organization is much stronger, processes are in place, and we are closer to customers and the market more than ever. We’re clear on our priorities to transform our patented, scalable, and versatile technology into market success and to create shareholder value.