If this leadership has proven something in the past year or so, it's that they completely lack the vision to run this company through tough times. It's easy to temporarily inflate numbers through cuts, most of them layoffs. Ensuring higher profit without cuts by, let's say, adding innovative products to your offerings, is something completely different. Companies that do the first thing fail in the end, and the companies that do the second thrive. Guess which one are we?
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@lfp+1h80OnKG Exactly the DNA/Open story. Prior to the FD merger net new investment was only made for new Fiserv surround integration launches or new core deals even then there was little incremental investment in implementation, support and maintenance post dev. At least we were treading water prior to FD now 10-fold worse. So after over a billion dollars 10 years of successful sales DNA has been destroyed by Frank and team. FInxact is next up same fate.
Fiserv and FD have only ever known innovation through acquisitions. The problem with this approach is that they do not know how to do anything other than completely destroy the cultures of the companies they acquire, which results in an exodus of talent. This results in those recently-acquired products eventually becoming difficult to support, let alone expand upon. If the company had instead chosen to nurture its acquisitions and ensure that the teams which they had acquired were happy here, the innovation-through-acquisition approach may have gone better for them. Unfortunately, our leadership team doesn't know how to run a company for any purpose other than bleeding it dry.