Web services software maker Bowstreet, a promising, privately held company that's generated enthusiasm for its Business Web Factory product line, is hoping to expand its business through key alliances with software companies and global technology consultants, the company's CEO said Tuesday.
In an exclusive interview with VARBusiness Magazine, Bowstreet CEO and president Bob Crowley says Bowstreet soon expects to announce a new relationship with Cap Gemini Ernst & Young, among others. In particular, the company is working to close deals with two Big Five consultancies, hopefully by the end of the year, he adds. Bowstreet already has a strategic, global alliance with Accenture, which has signed on with Bowstreet as a Premier-level Consulting Partner.
On the vendor front, Bowstreet counts WebMethods and Interwoven among its allies. Now it looks to establish deep ties with strategic application server software companies. In June, the company agreed to align with BEA Systems to integrate the Business Web Factory with BEA's best-selling WebLogic e-business platform. Bowstreet hopes to do the same with other leading providers of application server software, most likely IBM and iPlanet.
In all, Bowstreet estimates that alliances directly or indirectly account for almost 40 percent of annual sales, according to Crowley. He believes they could one day represent 60-70 percent of future revenue.
Bowstreet has ties to 20 e-business integrators that cater to middle market accounts and has begun working with Bain, McKinsey and other management consulting companies to reach additional customers.
"If you're not partnering in the areas of technology and systems integration, I can't see how you can get from becoming a viable small entity to an extremely viable large entity. You've got to partner," says Crowley, who has been with the company for nearly two years.
Bolstered by the recent release of version 4 of the Business Web Factory, which Bowstreet bills as "software for the creation, integration and management of a new class of dynamic, web-native applications composed of plug-and-play web services," Bowstreet anticipates additional technology milestones this year. Version 4 is the first release that runs atop other vendors' application servers. Although Bowstreet first chose to run on BEA' WebLogic platform, Crowley eagerly expects to run on other platforms, too.
Reflecting on the market, Crowley says business for Bowstreet was much improved in the second quarter when compared with the first. "It would appear," he adds, "that the buying behavior is starting to loosen up."
That could bode well for the company that previously raised $140 million in capital. Like many, Bowstreet still pines to complete an initial public offering if and when market conditions improve. Until then, the company continues to watch expenses. Among other things, Bowstreet trimmed its workforce by 20 percent to save money.
Despite the current climate, Crowley remains upbeat. "We're in the bottom of the first inning and although the pitcher has been roughed up; that's all it is. For those that believe in that, we're going to get to the next few innings and its going to be very successful," he says.
