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3 Takeaways for Contract Management from ‘The Generalist Counsel’

Prashant Dubey
Written by Prashant Dubey on Apr 21, 2014

I recently met with members of the Selectica management team and we discussed a number of contract management trends and best practices. My book, ‘The Generalist Counsel’, served as a good conversation piece; here are three takeaways to review and share with members of your contract management team:

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Businesses are Built on Contracts. Procurement and Sourcing Teams Have Business-Critical Roles.

Patrick Stakenas
Written by Patrick Stakenas on Apr 10, 2014

The procurement world has changed in the past 10 years as technology, the internet, mobile, social, big data and the cloud (‘Gartner Nexus of Forces’) provide access to more information. Sourcing professionals are now more informed as buyers.

On the flip side, this transformation has created more risk for businesses as information flows in and out of organizations; contracts have become more important. Regardless of the tools and technologies sourcing professionals rely on -- it’s contracts that bind agreements to use goods and services.                               

Contracts are the heart and soul of an organization, its lifeblood if you will, in place to document and secure all aspects of business deals and to create permanent records. Because procurement is most often at the receiving end of contracts, it’s critically important they understand what they are being sold and the General Counsel is almost always involved in the review and negotiation of incoming contracts.

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Values Shaping Culture

Blaine Mathieu
Written by Blaine Mathieu on Apr 04, 2014

Shaping culture is a significant challenge. Company culture is not something that is forced – rather it emerges from the actions, attitudes, and commitments of the people in a company.

But one of the most powerful things people can do is to agree on a shared set of values. Through these values, we can help shape the company culture into something meaningful to, and powerful for, all of a company’s stakeholders.

And, I’m proud to say, that’s exactly what we have done at Selectica.

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Empower Your Employees with Social Media for Customer and Business Success

Erick Mott
Written by Erick Mott on Mar 28, 2014

The command and control management style days are numbered if not over. Instead, successful companies and leaders today are focused on building agile and collaborative cultures around the idea of context over control. Employees are your enterprise’s greatest assets and with the right blend of empowerment, systems, and leadership, they can also be your best advocates on social media for customer and business success.

Jay Baer, author of Youtility, shared new content and ideas yesterday to a packed room at the Social Media Marketing World 2014 conference in San Diego. His presentation entitled How to Turn Your Employees into Your Best Social Media Advocates was all about viewing your employees in a modern way when it comes to culture and communications. And he nailed the topic, captured in our brief conversation on video. According to Jay, "the power in social media is in the people; it’s about people and not logos.”

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Customer Experience Risks to Avoid. CX Resources to Review.

Erick Mott
Written by Erick Mott on Mar 17, 2014

Members of the Selectica team recently participated in a customer experience (CX) discussion in San Francisco, co-hosted by Paul Hagen and John Rymer of Forrester Research, Inc. The CX topic is of high interest to Selectica given our ‘Customer-First’ initiative led by Rose Lee, and because our customers are creating and managing their unique customer experiences with a wide variety of technologies and channels.

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General Counsels Can No Longer Be Just Corporate Lawyers

Patrick Stakenas
Written by Patrick Stakenas on Mar 12, 2014

The Office of the General Counsel (GC), Chief Legal Officer, and supporting cast inside of corporate America has forever changed. No longer are they a group of lawyers that have moved out of the law office to handle matters, contracts or due diligence. They are now a formidable, knowledgeable and business savvy force that is connected with the executive management team if not reporting directly to the CEO.

The GC office still provides legal representation, drafts and reviews contracts, and manages litigation matters and legal risk to all parts of the organization. However they play a much larger role by providing both business and legal advice to enable decision-making by the CEO, president, executive vice president, COO and senior management team overall.

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Contracts Drive the Enterprise; Lack of Control Can Cost You Millions and Maybe Your Job!

Patrick Stakenas
Written by Patrick Stakenas on Feb 26, 2014

Selectica eDiscovery

As a senior executive for the past 20 plus years, I have literally read, edited, negotiated and signed thousands of contracts, from employment agreements to building leases, from software licenses to consulting contracts and everything in between.  Each contract is carrying weight, albeit some more significant than others, in terms of expense, revenue or risk.  But in all cases there was significance -- there was reason the contract was in place, and often times, countless hours of authoring, versioning and negotiating.

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Investing in Selectica’s Social Business for More Customer and Market Success

Erick Mott
Written by Erick Mott on Feb 20, 2014

On behalf of the entire Selectica team, we’re pleased to announce new investment in our social business including people, content, and tools. Every business is social – or simply put, relationship oriented – but each organization is at a particular stage of their social business transformation, according to Altimeter Group:

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A Closer Look at Sales Metrics, and What it Means to be “Average”

Nick Mathur
Written by Nick Mathur on Dec 13, 2013

Do you know the overall average of salespeople hitting 100% of their sales goals last year? It’s 60%—that’s according to a recent study posted on the Harvard Business Review. However, the number of salespeople who achieved one hundred percent of quota varied greatly by sales organization. The blog goes on and provides eleven more key sales metrics and the average for each.

Does this make you wonder how your sales team did compared to the average? How many deals do you have that just can’t seem to make it out of the sales funnel? Could you ameliorate your performance? The survey highlights an eye-opening observation that even the best sales team has over a quarter of its personnel missing sales goals. The real take-away here is that on average, 40% of most sales organizations are missing out on opportunities to grow the bottom line.

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Learn to sell more with configure price quote and contract management software [video]

Michael Boykin
Written by Michael Boykin on Nov 27, 2013

During Dreamforce last week, we hosted a session with guest speaker Peter Ostrow of the Aberdeen Group. The key message: the lead-to-win best practices enabling today’s best-in-class sales organizations to close more deals more often are made possible with configure price quote (CPQ) and contract lifecycle management (CLM) software.

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About our blog

At Selectica, we’ve been attacking the problems that slow down deals for well over a decade, and experience has shown us areas where companies can tighten up their business processes.The goal of this blog is to tackle industry subjects, provide you with resources, insights, materials, and advice to help keep all the moving parts of a deal moving, and ensure that anyone involved in sales and contracting processes can optimize their function on the “deal wheel.”