SOURCE: Selectica

Selectica

February 26, 2014 09:00 ET

Selectica Enhances Its Contract Management Solution With Contract Discovery and Analytics

New Offering Provides the Only Contract Management Solution Featuring Automated Contract Discovery and Advanced Analytics

SAN MATEO, CA--(Marketwired - Feb 26, 2014) - Selectica, Inc. (NASDAQ: SLTC), a leading provider of software that streamlines contract processes, reduces risk, and drives revenue, today announced that it will begin offering Selectica Contract Discovery and Contract Analytics products, powered by Seal Software. These new products, available as part of the Selectica Contract Management Solution, enable legal, procurement, and IT teams to seamlessly identify, transform, analyze, and aggregate organization-wide contracts before choosing to load them into the Selectica Contract Lifecycle Management (CLM) system. Customers now have access to expanded visibility into their contracts to quickly and cost effectively extract value and determine which actions will have the greatest impact on the bottom line.

"Today's complex buyer-driven cycles demand more attention than ever, whereas the administrative infrastructure supporting contracts must be streamlined and frictionless so that buyers can focus their time on managing deals and suppliers, not looking for information," said Peter Ostrow of the Aberdeen Group.

Selectica's new Contract Discovery and Contract Analytics products enable customers to:

  • Find contracts globally in shared folders and cloud storage systems; make them searchable in a centralized contract repository.

  • Dramatically reduce the amount of time it takes to aggregate and load existing contracts into the Contract Lifecycle Management (CLM) system.

  • Streamline contract processes, from request, authoring, negotiation, and approval through ongoing obligations management, analysis, reporting, and renewals.

  • Gain complete visibility into contract milestones, deliverables, expirations, and renewals.

  • Extract specific contract language and clauses specific to customer industry, type of contract, and geographic location, including information in embedded images or files.

  • Inform cross-functional teams of revenue opportunities, expenses, and risks associated with contract obligations.

  • Reduce time needed to identify problems and increase time available for action.

"We understand the challenges of locating and managing volumes of legacy contracts," said Blaine Mathieu, President and CEO of Selectica. "From differing file types, and across departments, offices, and cloud storage systems where they can potentially be located -- consolidating these critical pieces of corporate intellectual property can be a time-consuming and costly task." Mathieu added, "With Selectica Contract Discovery and Contract Analytics, our customers will now be able to quickly centralize every contract they own to more effectively manage their risk exposure, increase efficiencies, and grow revenues."

Learn more about Selectica Contract Discovery and Contract Analytics: www.selectica.com/contract-discovery

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About Selectica, Inc.

Selectica, Inc. (NASDAQ: SLTC) is a leading provider of enterprise contract management and configuration solutions. Since 1996 Selectica has been helping global customers actively manage contracts throughout the sales, procurement and legal life cycle. Selectica's Contract Management Solution drives value by helping organizations manage contracts profitably, effectively accelerating revenue opportunities, and minimizing risk through compliance. Our patented technology, delivered through the cloud, enables customers in industries including high-tech, telecommunications, manufacturing, healthcare, and financial services to accelerate and streamline contract management and sales processes.

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