SAN MATEO, CA
Selectica, Inc. (NASDAQ: SLTC), provider of software that accelerates sales cycles and streamlines contract processes, today announced the appointment of Mike Mothersbaugh as its new Executive Vice President of Worldwide Sales.
"Mike has firsthand insight into the rapidly increasing market potential for configure-price-quote (CPQ) software across companies of all sizes," said Selectica President and CEO Jason Stern. "His extensive industry knowledge and sales expertise will be a huge asset as we continue to penetrate new markets and expand our sales configuration and contract management product offerings to a broader range of companies. I'm thrilled to welcome such an accomplished sales leader to the Selectica team."
Prior to joining Selectica, Mothersbaugh served as Global Account Director at salesforce.com, where he managed a global team's activity for one of Salesforce's largest accounts and had an up-close view of the importance of CPQ in the broader customer relationship management (CRM) landscape. Previous sales leadership roles at Oracle and Siebel also immersed Mothersbaugh deeply in the CPQ space, providing him with the precise combination of industry expertise and functional skills that position him well to lead sales efforts at Selectica.
At Selectica, Mothersbaugh will be responsible for all North American field sales, global sales, strategic accounts, and sales operations. One specific objective will be to increase the understanding of the value of patented Selectica configuration and contract management technology among several key segments. Those segments include a number of companies within the Salesforce ecosystem as well as organizations in 20+ targeted industries that could benefit from implementing a system that not only streamlines the configure-price-quote process, but also closes the loop on deals by managing and connecting ensuing contract processes.
"You'd be amazed at the number of Fortune 100 companies that have multiple, standalone CPQ systems or rely strictly on spreadsheets or other antiquated methods to do their quoting, so you can only imagine what's happening in companies without as many resources," said Mothersbaugh. "In my opinion, the rock-solid technology behind Selectica Guided Selling, which combines our patented CPQ and contract management solutions, is the 'secret sauce' that can help these companies bridge the gap between quote to cash. I'm excited to get started communicating this value to all the businesses out there that are missing out on the revenue potential."
Selectica (NASDAQ: SLTC) develops innovative software that the world's most successful companies rely on to improve the effectiveness of their sales and contracting processes. Our guided selling, sales configuration, and contract lifecycle management solutions support the Global 2000 and growing mid-size firms in closing billions of dollars' worth of business each year. Our patented technology, delivered through the cloud, makes it easy for customers in industries like high-tech, telecommunications, manufacturing, healthcare, financial services, and government contracting to overcome product and channel complexity, increase deal value, and accelerate time to revenue.
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Certain statements in this release and elsewhere by Selectica are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements regarding business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to the on-going global recession; fluctuations in demand for Selectica's products and services; government policies and regulations, including, but not limited to those affecting the company's industry; and risks related to the company's past stock granting policies and related restatement of financial statements. Selectica undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the company can be found in the company's most recent Form 10-K, filed by the company with the Securities and Exchange Commission.
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