SOURCE: Selectica


February 26, 2013 08:00 ET

Northlands Chooses Selectica Contract Lifecycle Management to Automate Contract Creation, Execution, and Analysis in the Cloud

Top Hospitality and Events Organization to Replace Spreadsheets and Shared Drive With a Consolidated, Searchable Contract Repository

SAN MATEO, CA--(Marketwire - Feb 26, 2013) - Selectica (NASDAQ: SLTC), provider of software that accelerates sales cycles and streamlines contract processes, today announced that Edmonton Northlands ("Northlands") will be using Selectica Contract Lifecycle Management (CLM) to manage the entire contract process for a large number of vendor, entertainment, facility, and corporate agreements.

"Our vision is to provide best-in-class service and experiences to our clients, and to continue to do that, we need to make sure our technology is able to keep up with our growth," said Sharilee Fossum, Chief Financial Officer. "With Selectica CLM, we found a system that could handle our legacy contracts as well as our upcoming contracts, effectively track contract deliverables and expirations, and standardize our contract templates and language."

Selectica Contract Lifecycle Management takes companies through the contract process, from request, authoring and negotiation through ongoing task management, reporting, and renewals. Northlands will be using Selectica to manage a large volume of procurement and corporate contracts with hundreds of vendors. With the solution, Northlands will be able to get a more holistic picture of contract obligations and their context, track status on deliverables for themselves and their counterparties, and better manage risk at all points in the contract process.

"Northlands is a customer-focused organization that sees the value in maintaining better customer relationships through meticulous contract management," said Kamal Ahluwalia, Selectica Chief Marketing Officer. "We are extremely pleased they will be using Selectica Contract Lifecycle Management to help them accomplish their goals of improving visibility and controlling their end-to-end contract process in a single system."

About Selectica
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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About Northlands
Northlands is a not-for-profit community-service organization with 133 years of agricultural history in Edmonton, Alberta. Northlands' nearly 160 acres sets the scene for hosting the best in concerts, professional sports, trade shows, and racing and gaming throughout its three venues: The Edmonton EXPO Centre, Rexall Place and Northlands Park. As a key business and community leader, Northlands is integral to the vitality of Edmonton and Northern Alberta. Our dedication to the region is marked by $1.2 million dollars in cash and value invested into the community in 2012.

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 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.