Pros
Limited number of competitors in market (1 in Canada and 2 in US) means that it's unlikely the company will fail entirely. A few good and knowledgeable long timers are still around who know how to keep their head above water and keep the company afloat but they are slowly sinking under the weight of attrition.
Cons
Be prepared to constantly say I'm sorry to customers for failures that are out of your control. It might be failures of technology that is 10 plus years old,it might be promised software that turns out to be vapour ware, or it might be incompetent support people (who never stay around long enough to become competent) but you will be saying I'm sorry on a regular basis while customers roll their eyes because they know that what corporate and sales tries to spin to them is 90% fluff. Company is constantly telling employees about the millions they spend on mergers and acquisitions to "grow the company" but can never find even a tiny amount of $ to give even cost of living increases. Salaries will be frozen for years at a Time and you will be told you can make more by getting a promotion when there are almost no opportunities to move up. Higher level or new positions are constantly filled with outside hires that rarely last more than a year. It is a constant cycle for long term employees to see new people brought in in positions above them and waste energy explaining how things work and what the clients do only to see them bolt under the pressure of unrealistic expectations and the cycle to start over again. Customers require rapid responses to newly evolving trends but the software platform is so outdated that it takes far too long to be able to deliver.