In the space they're in, it's 10% product and 90% sales. Every...

In the space they're in, it's 10% product and 90% sales. Every time a real opportunity arises in the market (where a bank has some substantial budet to spend), their sales guy is up against sales teams from the big, well resourced companies like Sungard, Reuters, Misys, Wall Street Systems, Fitch (Algorithmics), etc. There is often strong competition from internal empire builders saying that an internal solution is the only way to go. The key decision makers in the banks wouldn't know good from bad product if it hit them over the head, nor even the most of the next level down. A big budget sale requires a lot of stakeholders to be convinced (or bribed in some way) into going with the solution, many (most) of whom probably only understand a small aspect of the requirement, or less. That's where a big, well financed sales team will be able to muscle in, by setting up relationships at all the different levels. With IT&e's balance sheet and market cap., it is hard for big decision makers to go with a such a small company. This is IT&e's biggest challenge and that's why most of the sales have been rats and mice.