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Created on Monday, 15 September 2008 17:39

Written by Larry Grey

It seems like every week, there's more bad news related to financial services organizations. Last week, federal regulators took over Fannie Mae and Feddie Mac. Today, Lehman Brothers filed for bankruptcy protection.

As many of you know, PeopleSoft is very strong in the financial services industry (all 3 of these organizations are PeopleSoft customers). If you've ever seen the 8 out of 10 of the largest banks use Oracle Applications advertisements, they're talking about PeopleSoft applications.

We have friends at several of these organizations who are casualties of the subprime mortgage crisis, including one of our customers.

How the Grey Sparling Excel Add-in helps these organizations

One thing we learned from our customer (who, coincidentally, purchased the Excel Add-in not long before being taken over), was that the federal regulators spend a lot of time looking at the books, analyzing the financials of the company. In essence, we were told that our product is getting even more use than expected, and that it is instrumental in the activities going on in their organization.

Free offer of Excel Add-in to organizations taken over by the FDIC

Therefore, if you are in a Financial Services organization who has declared bankruptcy or is in the process of being taken over by federal regulators, we would like to provide you a complimentary license of our Excel Add-in to help you as you go through the difficult period ahead. We will provide you a full use license of the product, 6 months of support, and the services to install and configure it in your environment.

If you are unfortunate enough to be in this situation, feel free to contact us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. and refer to this offer.

Why so Generous? What do you get out of it?

Although it would be nice to say that we're being completely altruistic, there are several very good business reasons for helping them out now, even though there will be limited ability to pay for our products.

• Viral Marketing - For those who've read the blog entries on our business model, this won't be surprising. We don't spend a lot on traditional marketing, but focus on work-of-mouth to let potential customers know about us
• Long Term View - We also believe that once the current set of issues play themselves out, these organizations are fundamentally sound, and that as organizations using our products, that they will be good prospects for future sales.
• Independent validation of the business value of one of our products - Finally, we can demonstrate to all PeopleSoft customers the value of one of our products in a mission critical situation. If this helped these organizations make it through a tough time, imagine what it will do for your organization

Labels: Financial Services

financial services