With the overall enterprise resource planning marketslowing, Lawson Software Inc. is hoping to fuel new growthby expanding its focus. The company said yesterday it hasidentified and is aggressively entering four new verticalmarkets: financial services, professional services, publicsector, and wholesale distribution.
To attack these markets, Lawson will enhance its existingsoftware suite for financials, human resources, andprocurement with industry-specific functionality from nichevendors. With its new professional-services initiative, forexample, Lawson will partner with Covanta Solutions, whichdevelops billing software for professional-services firmssuch as employment agencies, temporary staffing firms, andadvertising and public relations firms. Lawson says itsfinancial-services initiative will encompass a wide range offinancial industries, such as banking, finance, insurance,investments, mortgage, and mutual funds. Lawson officialsadd that as more financial-services companies formpartnerships, they need updated software applications tomanage the new business ventures.
Lawson is also homing in on public-sector organizations suchas schools and government agencies, especially since theseinstitutions are starting to replace outdated systems withnew technologies for cutting costs and streamliningadministrative processes. And Lawson is targeting wholesaledistributors with its own suite of supply-chain applicationsthat can help streamline their purchasing processes andshorten the process from order-entry to product delivery.Lawson says each vertical market will have a dedicated groupof sales, services, marketing, and product developmentstaff.