Last Friday, QlikTech CEO and President Lars Björk was interviewed on Fox Business News following QlikTech’s Q3 earnings announcement. Here’s a link to the video. I’ve also pulled out some of the highlights from Lars’ comments. My favorite one is his answer to the question about his confidence in continuing to compete with software companies that are much bigger than we are: “Of course we can. We show every day that we do it.”
Fox Business: What is the secret of your success?
Lars Björk: I think the secret is a piece of software that we developed. We put a great team together. We target the common challenge of businesses. How can you make better decisions with all the facts that you have, drive up and drive down expenses? More important now than ever.
Fox Business: Companies are dealing with a lot of pressures. What’s your elevator pitch to get clients to make that outlay for your software?
Lars Björk: It’s focusing on what their specific problem is, whatever that industry is. Is it gaining insight into something? Is it gaining time? Or is it reducing cost? It’s being very, very specific. And most importantly, being able to deliver in a short of time.
Fox Business: You are competing with a lot of big boys like Oracle and SAP. What’s your biggest challenge? You only have 2% share of the market. What do you see as the landscape as you grow?
Lars Björk: I think we have a great opportunity. What we have ahead of us is more of an execution game. I think what we benefit from is we sell something that is self-service in our space. We sell something that is quick time to value. And we’ve shown over the last 10 years that we can outgrow competition. So we are catching up to them.
Fox Business: Do you have any concerns about trying to compete with other companies that have bigger budgets?
Lars Björk: Not at all. We show every day that we do it.
Fox Business: You have some big customers. As you talk to executives in these companies, what is your sense of the outlook? What is your sense of the level of optimism right now?
Lars Björk: I think the sense that you see in news that there is a big problem out there isn’t what I hear from customers. Whether you are in Europe or the U.S, I think the sentiment is still that, yes, “I want to run my business efficiently.” But it’s an optimistic view. I’ve just traveled in Europe. And what you see on the news in the U.S. isn’t represented in what you see in general in European business life.
Fox Business: A lot of people have been very bullish on the technology industry. A lot of people have been bullish on it. What’s your outlook going forward? What makes the growth prospects of your industry so attractive?
Lars Björk: I think we are sitting on top of one of the biggest challenges in business life today. Everyone knows that the future competitiveness with your business lies in managing your data, your information, and making better decisions than competition. I don’t think you can see an end to that problem.