I think like their CRM product, clever sales people impress manangement with pretty reports & graphs.

But the business requirements are often more complex than what the application can handle "out of the box". Bring in the consultants & developers to customize. Then employ staff to manage the cleanliness of the data etc.

From what I've seen the end user needs to be trained well to use the application in an efficient manner - Without that, it's just another white elephant.

Maybe the licensing is reasonable, but there are other costs that shoots up the TCO.

On a positive note, if deployed properly, Sharepoint can be beneficial (I just haven't seen it :-))