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This CRM Review examines Selectica CPQ.
In-Depth CRM Review
2121 S. El Camino Real
San Mateo, CA 94403-1864
CRM Category: Field Sales Support – Cloud
About the Company:
The engine that could – From Xerox PARC to IPO
Selectica was founded in 1996, built around technology that had been developed at Xerox PARC and driven by the vision that “selection and configuration expertise” could guide teams to make better decisions during the sales process. Our engineers created a powerful engine that allowed companies with the most complex catalogs and selling organizations to configure products and services easily and efficiently. Suddenly, those companies could reduce the time required to propose a solution, provide accurate pricing, and offer relevant bundles, discounts, and upsells. Quoting cycles decreased from weeks to hours, customer satisfaction grew, and the companies pulled in greater revenue faster. Selectica saw results too: In 2000, we joined the NASDAQ with a successful initial public offering (IPO).
Selectica sales configuration technology took users from request to quote, but something was missing. Stopping with the quote meant stopping before that document that cements a business relationship: The contract.
The move into contract management
In 2005 Selectica introduced Selectica Contract Performance Management (now Selectica Contract Lifecycle Management (CLM)), a solution designed to take each and every contract from request, authoring, and negotiating to execution, ongoing obligations management, and renewal. Today, corporate, non-profit, and government organizations rely on Selectica CLM to get agreements signed quickly and efficiently and to store all of their contracts in a centralized, searchable repository.
Present day and beyond
Now nestled in San Mateo, California—one of the “cloudiest” places in the world—Selectica has brought its two technologies together and into the cloud. Our newest offering, Selectica Guided Selling, brings a step-by-step web interface to the powerful Selectica sales configuration engine that processes billions of dollars of transactions each year for many of the largest Fortune 500 companies. To make things even easier for sales teams, in June of 2012, Selectica launched Selectica Guided Selling for Salesforce to further streamline sales processes in a single UI.
Together, Selectica Guided Selling and Selectica CLM help growing companies close complex deals with ease.
Our customers span 20+ industries, including high-tech, manufacturing, telecommunications, government contracting, healthcare, and financial services, and they include some of the world’s most successful companies. And our people? We’re a team dedicated to our customers’ success, constantly listening and innovating to make sure Selectica offers the most user-friendly, results-producing, killer apps on the market.
Selectica, Inc. (SLTC) trades on the NASDAQ.
About the Product:
CPQ software that isn’t scared of sales complexity
Selectica configure price quote (CPQ) software slices through sales complexity to help best-in-class companies sell more. Selectica enables sales reps and channel partners to recommend the best combination of products and services, construct accurate quotes, and get contracts signed fast. With powerful, constraint-based configuration, step-by-step guided selling, and streamlined workflows for quote, proposal, and contract management, Selectica CPQ takes enterprise sales to the next level, increasing average deal size, accelerating sales cycles, and making global business faster and more efficient.
Here are the core components of Selectica CPQ
Selectica CPQ creates order around business complexity. Our powerful constraint-based configuration technology enables the world’s largest organizations to construct optimal deals without getting lost in the details, and build flawless quotes fast. Our patented, easy-to-administer technology enables reps and channel partners to generate feasible, correct combinations in every sales scenario, giving sales efficiency and effectiveness a major boost.
Say “goodbye” to multiple price sheet versions, and say “hello” to an automated, cloud-based system that can deploy pricing changes globally in just ten minutes. Our CPQ software makes sure your global sales teams are offering deals based on up-to-the-minute pricing for products, services, bundles, and more.
Keep the words “quotes” and “bottleneck” from ever entering the same sentence, and make sure all reps and channel partners can quickly construct error-free quotes for customers every time.
Empower new sales reps to sell like your seasoned pros, and your seasoned pros to easily maximize deal size and win more business. Guided selling leads sales teams and channel partners through a step-by-step questionnaire—based on your unique products and selling process—that results in the best and most accurate deals for prospects.
Ensure data flows seamlessly from quote to contract, then manage contracts throughout their lifecycle—from request, authoring, negotiation, and approval through ongoing obligations management, analysis, reporting, and renewal. Get more out of every account, and make sure no revenue opportunity is left on the table.
Set your sales channels up for success by helping them create compelling deals based on accurate product and pricing information. Selectica CPQ lets you set sales parameters based on role, geography, or other considerations to ensure your direct and indirect channels are enforcing your company’s best practices and offering perfectly configured deals.
Understand your business—and how to improve it—inside and out. Our executive analytics dashboards increase business visibility, with access to critical sales insights—such as most (and least!) popular products, most discounted products, average effective price to list price, and quote status. Make a direct impact on your next quarter’s numbers by catching which quotes are stalled or require additional approvals in time to take action.
Define your product and sales rules in Selectica Playbook, and then sit back and relax, knowing all deals are leveraging accurate data. Playbook lets approved users—even those without tech degrees—configure and reconfigure the rules that govern your sales process. Because Selectica Playbook houses your business rules in the cloud, you can push product and pricing changes through your organization and across the globe in no time flat.
For complete pricing details, please contact the company directly.
For a proper demo of this CRM solution:
For a proper demo of this CRM solution, please contact the company directly.
Rich’s View of Selectica CPQ:
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