Selectica, Inc. (NASDAQ:SLTC), provider of deal management solutions, including
contract lifecycle management solutions
, today announced that Children’s Hospitals and Clinics of Minnesota has chosen to deploy the Selectica Contract Lifecycle Management software across its network of hospitals and clinics.
“Our organization was looking to gain a higher level of control and visibility in the contract management process beyond what’s provided by the type of basic contract repositories most healthcare systems have,” said Pamela Kane, Project Manager at Children’s Hospitals and Clinics of Minnesota. “By implementing the Selectica solution, we will be able to better manage our agreements throughout the entire contract lifecycle—from contract initiation to renewal.”
The Selectica Contract Lifecycle Management solution streamlines the contract management process,
from contract request, authoring, negotiation, and approval,
contract execution, on-going obligations management, amendment, and
renewal. During the evaluation process, Children’s Hospitals and Clinics of Minnesota concluded that Selectica’s solution would optimally help the organization improve its contract authoring process, provide greater agility in its business process, and provide oversight on the types of obligations outlined in healthcare-specific regulations.
During their selection process, end users at Children’s Hospitals and Clinics of Minnesota preferred the look and feel of Selectica’s user interface, as well as the advanced functionality the solution provides. Compelling features of the Selectica solution that stood out were the tools pertaining to authoring and negotiating contracts. Users throughout the organization will now be able to create contracts within a configurable system, standardizing contract language and terms using approved templates. Additionally, the company plans to utilize negotiation capabilities within the system such as side-by-side draft comparisons. The organization also found the system’s ability to provide a consolidated “effective view” across all contract amendments to be particularly valuable.
As Kane remarked, “The capabilities present in Selectica’s solution not only to store, but to actively manage our contracts, will allow us to notice areas in our contracting processes where we can gain more value.”