SAN MATEO, CA--(Marketwired - Apr 29, 2013) - Focused on improving visibility and configurability of its best-selling Contract Lifecycle Management solution, Selectica (NASDAQ: SLTC), today announced the immediate availability of its latest release of Selectica Contract Lifecycle Management. Selectica CLM version 6.0. offers better contract approval process visibility and control, a deeper level of contextual insight into the formation of each contract, and more customization opportunities. The product offers a proven track record of accelerating sales cycles and streamlining contract processes.
"Our customers have resoundingly asked for more out-of-the-box functionality and more effective ways to manage complex approvals, and CLM 6.0 delivers all that and more," said Jason Stern, President and CEO at Selectica. "Contract management is a complex and detailed process and is a critical step for a wide range of industries. Our solution delivers all the features and functionality to allow executives to complete deals quickly, without sacrificing control or losing potential revenue."
Selectica Contract Lifecycle Management allows companies with complex contract processes to manage contracts from request, authoring, and negotiation, through ongoing obligation management and renewal. It delivers at-a-glance contract information with fewer clicks, allows users to easily request additional information from other stakeholders in the deal if necessary, and helps complete deals quickly using today's most popular eSignature vendors.
Key features and functionality enhancements in the latest release of Selectica CLM include:
- More eSignature options: Selectica CLM now integrates with both EchoSign and DocuSign, giving users their choice for contract eSignature.
- New Composer UI: A revamped user interface for the Composer tool makes it easier for administrators to write approvals rules by modeling complex logic with UI clicks rather than coding.
- Full contract approvals visibility: A log that can be viewed in the approvals stage includes a list of all significant contract events that transpired during the approvals process, including approvals, task reassignments, rejections, notes, and pertinent contract details.
- "Request More Information" feature: The "Request More Information" feature allows approvers to ask anyone in the approvals workflow for additional details on a contract before they approve, reject, or reassign it. When a user receives a request for more information, they can respond with comments and attach files, which are all tracked in the system with the contract record.
The eSignature and approvals enhancements in Selectica CLM 6.0 complement recent Aberdeen Group research, which shows 37% of respondents viewed reduced contract cycle time as a top performance indicator that measures contract management strategy performance.
Selectica Contract Lifecycle Management also integrates with leading ERP, CRM, SRM, procurement, business intelligence, and eSignature tools, including Salesforce, Oracle, SAP, EMC Documentum, Cognos, Adobe EchoSign, DocuSign, and many more.
Interested parties can learn more about Selectica Contract Lifecycle Management as well as Selectica CPQ at www.selectica.com.
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.