SAN MATEO, CA--(Marketwire - Jan 9, 2013) - Selectica (NASDAQ: SLTC), provider of software that accelerates sales cycles and streamlines contract processes, today announced that The University of Toledo will be using Selectica Contract Lifecycle Management (CLM) to enforce better control over contract processes and improve visibility into versioning.
"We were looking for a standalone contract lifecycle management system that was specifically designed to effectively handle varying levels of contract complexity and give us complete insight into how our contracts morph during negotiations and the general course of their lifecycle," said Jennifer Pastorek, Director of Supply Chain at The University of Toledo. "With Selectica CLM we have the flexibility to phase in our system at our own pace and continue to expand as our needs require."
Selectica Contract Lifecycle Management makes it easy to create contracts, manage them through the review and approval process, and then store them in a repository where companies can organize, locate, and report on them. Using Selectica CLM, The University of Toledo will be able to quickly assess what changes have been made to contracts through advanced redlining capabilities, keep an accurate trail of contracts in their various iterations through versioning controls, easily include up-to-date, approved legal language while editing contracts in Microsoft Word, and receive alerts when action needs to be taken on contracts or when contracts reach a critical milestone.
"It's encouraging to see how educational institutions like the University of Toledo are embracing automated contract management as a way to make business easier and keep contract records accessible, up-to-date, and accurate," said Doug Bell, Selectica Chief Commercial Officer. "We're excited to be adding them to our family of customers, and look forward to helping them accomplish their business goals by streamlining the way they work with contracts."
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.