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SAN JOSE, Calif. – October 20, 2009 – Selectica (NASDAQ: SLTC), a leading provider of contract lifecycle management and sales configuration solutions, today announced the release of Selectica Contract Lifecycle Management 4.0, which delivers industry-leading capabilities for managing contract amendments and more than 100 product enhancements to enrich the end-user experience and boost employee productivity.
“In industries with very complex contracts, such as healthcare, government contracting, high-tech, and financial services, amendments can represent 75 to 80% of a company’s agreements,” said Jason Stern, Senior Vice President of Operations at Selectica. “Companies often struggle to maintain the same level of visibility, control, and efficiency in managing amendments as they do with their original agreements. We’ve worked closely with leaders in these industries to design and develop amendment capabilities that precisely mirror the processes those companies want to follow in managing their amendments.”
Selectica Contract Lifecycle Management 4.0 Delivers a Comprehensive Approach to Amendment Management
Comprehensive amendment management capabilities are critical since companies can only gain a full understanding of a business relationship by understanding how all of the amendments that govern that relationship fit together. Unfortunately, most contract management solutions have completely avoided addressing the challenges of the amendment management process, and merely allow users to attach amendments to an original agreement. Other simply treat amendments like standalone, original agreements and fail to provide a complete view of business relationships that span multiple agreements. Only the Selectica solution provides a comprehensive approach to amendment management with the following:
- A single, “effective view” across multiple amendments – The Selectica solution enables professionals to quickly gain a complete view of prevailing language and terms across multiple contract amendments.
- A clear “amendment view” between an amendment and the original contract – The solution also highlights changes to language and terms with each amendment to allow professionals to quickly gain an understanding of how an amendment affects a business relationship.
- Intelligent amendment processes and approval – Selectica Contract Lifecycle Management 4.0 ensures that only the right people must be involved in approving each amendment, based on the kinds of changes made from the original contract. It also enables companies to manage their unique processes after an amendment has been executed.
“Companies that require strong amendment management capabilities will appreciate how Selectica has incorporated enhanced amendment functionality into its Release 4.0,” said Katherine Kawamoto, Vice President of Research and Advisory Services at the International Association for Contract and Commercial Management (IACCM). “Having a clear view of the ‘amended’ contract can help users manage those contracts more effectively.”
Selectica Contract Lifecycle Management 4.0 Includes More Than 100 Productivity Enhancements to Help Companies “Do More with Less”
With the current economic climate, few companies are expanding the size of their teams, so they’re constantly looking for ways to make the most out of every minute. Based on input from working with Selectica customers in procurement, sales, finance, legal, IT, and human resources departments, the most recent release of the Selectica solution incorporates over 100 new features and enhancements to the user experience to improve employee productivity. The solution enables professionals to:
- Complete work faster – Selectica’s new dynamic UI environment includes collapsible panels, configurable sidebars, and customizable tabs that enable professionals to tailor their user experience for their unique requirements so that they can work more efficiently.
- Work with multiple contracts simultaneously – Since many contracting professionals often work with 10 to 30 contracts at once, the solution provides new capabilities to support multitasking. New bookmarking features allow professionals to create shortcuts to any contract, clause, account, and directory for faster access. New “partial save” capabilities allow employees to stop work in the middle of key tasks and start back up in an instant.
“With over a decade of continuous development and implementations at some of the most respected names in the Global 2000, Selectica’s solutions have been regarded as some of the industry’s most proven solutions,” said Allen Pogorzelski, Vice President of Marketing at Selectica. “With Selectica Contract Lifecycle Management 4.0, we’re delivering new, industry-leading capabilities that provide more value to our customers and further distance ourselves from the competition.”
About Selectica, Inc.
Selectica (NASDAQ: SLTC) provides Global 2000 companies with solutions that automate complex contract management and sales configuration processes. Selectica's enterprise solutions streamline critical business functions including sales, procurement, and corporate governance, and enable companies to eliminate risk, increase revenue, and cut costs. Selectica customers represent leaders in manufacturing, technology, retail, healthcare, and telecommunications, including Bell Canada, Cisco, Covad Communications, Fujitsu, Hitachi, International Paper, ManTech, Levi Strauss & Co., Qwest Communications, and Rockwell Automation. For more information, visit www.selectica.com.
Forward Looking Statements
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 information includes, without limitation, 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-KSB, and other reports filed by the Company with the Securities and Exchange Commission.
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