Pros
Years ago, Selectica experienced a loss of focus under previous management, which alienated high performers. Current management has turned around the malaise. For the most part, we have the right team in place (the deadwood has been asked to go), and an excitement level around the direction of the company which I'm told hasn't been present in years. Even better, the company is generous with employees and empowers people to make decisions.
Other reviewers have been critical of the new "first time" CEO, so I'll address this also. The CEO is a culture guy, and that's what the company needed. The environment is fun, hip and the company has brought on a number of sharp people in the last 6 months. People sometimes bring pets. Snacks and drinks are abundant, and table tennis tournaments are a mainstay at all times of the day. The work environment is (almost) entirely devoid of the usual B.S. political moves you'd find in other software companies (big and small). Moreover, I get the impression that everyone I interact with on a daily basis is talented and knows what he or she is doing.
More importantly, our CEO reorganized the company around a focused cloud solution, which seems pretty smart. Existing clients have personally told me they're excited about the new focused direction of the company. Everyone I've talked to in sales is fired up and is highly confident about exceeding targets.
For reference: I'm in sales (not sales management)
Cons
There's some work to do bringing up existing accounts to current versions, and challenges around shifting to an "all cloud" company. In other words, short term growing pains, which is a good "con" to have.