Pros
Very smart people. Lots of support for new ideas. Beauracracy is manageable, not onerous. Interesting projects to work on and you can have a big impact on revenue. Actual utilization of your software is quite low; enterprise software - including cloud - requires a lot of integration and configuration, which takes customers a long time to do, because they often rely on consultants. Easy to form strong relationships, and you can have an outsize impact if you bring energy to the position. If you are a *technical* manager you can be very successful. If you are just a manager-manager, your progress will be limited.
Cons
For better or worse, literally every small detail - down to the smallest purchase - must be approved by the president, which means you often have to present status and progress to the president multiple times during development. Projects aren't "approved", but rather "approved for now with further reviews at regular intervals where your project may be summarily cancelled if you don't demonstrate a good plan".