Symantec 2013 Annual Report Download - page 4

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Go-To-Market
We are in the process of signicantly changing our go-to-market (GTM) plans in order to
improve both the effectiveness and efciency of our sales and marketing. We are upgrading the
talent and capability of both our marketing and sales organizations. The key highlights are the
following:
1. Sales force focus on new license: We will separate the renewals sales process from
the new license sales process by creating a eld sales force focused and compensated on
generating new business only. We will have a sales force of hunters versus a combination of
hunters and farmers.
2. New renewals team: We will create a centrally managed renewals team that will focus
exclusively on this important revenue stream. This is a large opportunity to improve the value
we deliver for customers as our previous approach was both high cost and low quality relative
to peer benchmarks.
3. Sales force specialization: We will reorganize our eld sales force into two specialized roles,
one focused on information security and the other on information management. This concept
has been well received by both customers and our sales force as the focus will drive deeper
product expertise and improve our execution.
4. New channel strategy: Finally, we are completely revamping our channel strategy to better
align our offerings with the optimal route to market and our channel partners’ capability. We
will align the economics and incentives based on the value created by the partner and expect
this will result in fewer, more focused, and successful partners.
People, Process, and Technology Infrastructure
Having the right strategy is critical to any company’s success, but value is created through
execution. In order to dramatically improve the quality, consistency, and efciency of our
execution we are focused on a few key things:
1. Simplify: We believe there is a large opportunity to simplify many customer and partner
facing aspects of our company to become much less complex and easier to do business with.
2. Streamline: We’ve eliminated middle management and removed some redundancies across
the organization to improve our responsiveness and decision making.
3. WorkSmart: We are implementing a concept we are calling WorkSmart. In simple terms,
this is about choosing the work we do wisely and then working hard every day to improve
how we do that work through a rigorous focus on people, process, and technology. We believe
WorkSmart will unleash the energy of our team and empower our employees from top to
bottom to do the right thing for customers and partners which will help us both accelerate
growth and improve margins.
FISCAL 2013 FINANCIAL REVIEW
Our combination of focus and discipline enabled us to deliver record nancial results even
during this time of signicant transition. We achieved organic revenue growth of 3%, the highest
in 3 years, driven by strength in our enterprise backup, information security, and endpoint security
offerings.
•GAAP revenue of $6.9 billion grew 5% in constant currency from the previous year.
•Non-GAAP1 operating margin decreased by 10 basis points to 25.5%.
•Non-GAAP earnings per share of $1.76 grew 8%.
•GAAP deferred revenue posted a record $4 billion, up 3% in constant currency, driven by our
sales mix shift to subscriptions.
• Cash ow from operations was $1.6 billion, down 16% driven by reduced collections due
to weak billings at the end of the March 2012 quarter as well as higher cost of goods sold,
restructuring costs, and cash tax payments.
1Non-GAAP results are reconciled to GAAP on page 4