Selectica, Inc. (NASDAQ:SLTC), provider of deal management solutions, including sales configuration and 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, through 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.”
About Selectica, Inc.Selectica (NASDAQ: SLTC) provides Global 2000 companies with deal management solutions to help companies close business faster, with higher margins and lower risk. Selectica offers tightly integrated applications for guided selling, sales configuration, pricing, quoting, and contract lifecycle management, including modules for mobile devices and employee self-service. With over 100,000 users and over one million new contracts processed annually, Selectica is changing the way companies do business. Selectica customers represent leaders in technology, healthcare, government contracting, and telecommunications, including Bell Canada, Cisco, Covad Communications, Fujitsu, CA Technologies, ManTech, and Qwest Communications. For more information, visit www.selectica.com. 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 information includes, without limitation, 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.