"managed and operated by IBM"
And that is the secret, isn't it ? Microsoft did it with Sharepoint, copying SAP who did it with so-called complete management software ; selling a product but really selling you a team of a few dozen consultants to manage it.
And now IBM wants in on that lucrative market. You think you're spending millions on a top-notch "solution" for your company, but what you're actually doing is signing up for years and years of subsidizing someone else's employees.
Hey, don't knock it, it works.