Selectica (NASDAQ:SLTC), a leading provider of contract lifecycle management and sales configuration solutions, announced today its sponsorship of the Aberdeen Group research report titled, “
Lead-To-Win: Shrinking the Sales Cycle and Focusing Closers on Sealing More Deals
The study, conducted in March and April 2010, examined 472 organizations to understand how Best-in-Class, Industry Average, and Laggard companies have reduced sales cycles and improved their close rates using contract management software technologies, CPQ solutions, sales playbooks, and electronic signature capture tools. The study found that these enabling technologies hold significant promise for better sales team performance in 2010.
The Aberdeen Research study provides support for field sales and sales operations leaders who are considering making investments in sales technologies. The report’s findings include the following:
- 15% higher renewal rates and quota attainment reported for companies that have deployed a sales contract management system.
- 60% of Best-in-Class sales teams have a system in place where legal compliance is ensured for pre-approved quotes, NDAs, proposals, or contracts.
- Companies using CPQ solutions enjoy significant performance advantages over non-users across six metrics, including average deal size, error rates in proposals, customer renewal rates, and lead conversion ratios.
“Top-performing selling teams are always looking for ways to shorten their sales cycles and improve the profitability of their deals,” says Peter Ostrow, Research Director, Sales Effectiveness, Aberdeen Group, the report’s author. “Our research has revealed significant gaps between Best-in-Class organizations’ adoption of innovative sales technologies and the rest of the industry.”
Many of the study’s findings align closely with the results Selectica customers have reported. The company’s flagship solutions, Selectica Contract Lifecycle Management and the Selectica Configuration Platform, enable companies to close deals faster, more profitably, and with lower risk.
“The Aberdeen report’s findings on what sets Best-in-Class sales teams apart provides valuable insights into how all companies can improve their business processes,” says Allen Pogorzelski, Vice President of Marketing at Selectica. “We're pleased to have the opportunity to underwrite the publication of Aberdeen's latest report and to share the results with our customers and prospects.”