Pros
The promotion of Patrick Stakenas in June 2015 to CEO has already changed the company and sales have significantly turned around in last three quarters. The new CEO is focused on product quality (specifically CLM) and removing any roadblocks to achieving significant changes in this area. Employees are once again buzzing about our potential. Also, the upcoming P2P acquisition of B-pack will make Selectica a powerful player in the sourcing and procurement market.
Cons
The last year at Selectica has been a real challenge. The CLM technology has dragged down the company financially and many employees were let go due to cash flow issues despite the positive cash flow contributed by Iasta acquisition. The technology team was protected by the former CEO and that team's performance is the critical roadblock to future product improvement. The new CEO has promised product quality will be his primary focus.