“Our analysis of software vendors indicate substantial fragmentation with approximately 38,000 VMS vendors spanning more than 12 vertical markets."
Hard to scale but can be sticky!
google.com/amp/s/25iq.com…
"Software contracts are better than first-lien debt. We get paid first. Software contracts are better than first-lien debt. [The client's system] can’t run without our software.” google.com/amp/s/25iq.com…