Selectica Hosts Two-Part Webinar Series on Sales Contract Management by AberdeenGroup
SAN JOSE, Calif., Sept. 12 /PRNewswire-FirstCall/ -- Selectica (NASDAQ:SLTC), a leading provider of configuration, sales execution and contract management applications, today announced the availability of a two-part Webinar series featuring Vishal Patel, research analyst with the AberdeenGroup. The Webinars explain the factors driving better management of sales contracts and explore how top performing companies are using contract management software to mitigate risk, more accurately forecast revenue and improve customer relationships.
On-Demand Webinar Series
To view the on-demand rich media presentations, visit www.selectica.com/ and click on the Sell-Side Contract Management link.
Sales Contract Management Benchmark overview: Hear the results of a 2006 Sales Contract Management survey and learn what factors are driving the need for better contract management, the impact of poor contract management and the benefits of automation technology.
Sales Contract Management Q&A: In a lively and provocative discussion moderated by contracts industry veteran Stephen Sopko of Cedar Key Ventures, Vishal Patel answers questions on contract lifecycle management, who owns the sales contract process, how to overcome internal resistance to standardization and explains Best in Class contract management strategies.
In addition to watching the Webinars, participants can download a complete copy of The Sales Contract Management Benchmark Report -- Optimizing Customer Relationships, published by Aberdeen earlier this year. Key findings of the report include:
o Companies track only 68 percent of their customer contracts, meaning
that almost a third are forgotten, not being serviced, or improperly
managed.
o Best in Class companies achieve contract renewal rates of more than 90
percent, as compared to the average of about 60 percent.
o Best in Class companies also have shorter sales cycles because their
contract cycle is approximately eight days, versus 25 days.
"Effective management of sales contracts is increasingly becoming an issue for both large and small organizations seeking to streamline business processes and reduce the sales cycle," said Vishal Patel, Aberdeen research analyst and author of the report. "Our research found that Contract Lifecycle Management software boosts efficiencies by improving accessibility and visibility into customer contracts, and ensures everyone in the organization will apply the terms of the agreement in a consistent manner."
Selectica's highly automated, unified Contract Performance Management solution is the industry's most comprehensive on-demand solution for managing the cost, compliance and performance of complex buy- and sell-side agreements. The robust software ensures compliance by automating and streamlining the creation, storage, management, and analysis of contracts -- from initial contract request and negotiation to on-going compliance and performance management. By automating many of the manual, disparate processes traditionally associated with contracts, Selectica's contract management solution helps companies:
o Gain visibility and control of their commitments;
o Eliminate expired, redundant and poorly structured agreements;
o Track key milestones, deliverables and renewal events;
o Ensure accurate financial reconciliation and compliance;
o Manage collaboration and approvals across entire contract lifecycle;
and
o Enforce use of standard processes and terms.
"With profitability, compliance and risk management high on executive agendas, effective contract management is emerging as a key business imperative," said James Dias, vice president of marketing and sales at Selectica. "This Webinar series provides insights on how companies take control of their contract management procedures and protocols through a centralized solution."
About Selectica, Inc.
Founded in 1996, Selectica (NASDAQ:SLTC) provides its customers with smart technology that accelerates profitability by automating complex business processes in the areas of sales execution and contract lifecycle management. Available on-demand or as a fully customized installed software application, the company's high-performance solutions provide a critical link between CRM and ERP to accelerate sales configuration, eliminate order inaccuracies, ensure compliance and limit risk exposure.
Selectica customers represent leaders in manufacturing, technology, healthcare and telecommunications, including: ABB, Alcoa, Applied Bio Systems, Bell Canada, Cisco, Dell, General Electric, Fireman's Fund Insurance Company, Hitachi, International Paper, Juniper Networks, Rockwell Automation, Seton Hospital, Tellabs, Time Warner, Triad Hospitals and 7-Eleven. Selectica is headquartered in San Jose, CA. For more information, visit the company's Web site at www.selectica.com.
Investor Contact: Tony Rossi, Financial Relations Board for Selectica
310-854-8317, trossi@financialrelationsboard.com
Media Contact: Terri Douglas, Catapult PR-IR for Selectica
303-581-7760, ext. 18, tdouglas@catapultpr-ir.com
Cell: 303-808-6820
Source: Selectica
CONTACT: Investors, Tony Rossi of Financial Relations Board,
+1-310-854-8317, trossi@financialrelationsboard.com, for Selectica; or
+Media,
Terri Douglas of Catapult PR-IR, +1-303-581-7760, ext. 18, or cell,
+1-303-808-6820, tdouglas@catapultpr-ir.com, for Selectica
Web site: www.selectica.com/
