The company lacks leadership.
Inadequate investment in product development means that customers are buying very poor quality systems. Project & support teams spend endless hours under a lot of pressure, fixing and covering up issues.
Employee morale is low, almost everyone that is not a Partner is looking to leave. High stress levels have resulted in degraded interactions/communications between employees.
Not a consulting company, this is more of a low budget software shop with a heavy reliance on offshore development (although this is starting to change - more onshore). There are deep rooted problems on the technology side.
Very little of what you learn here is valued outside this company.