Selectica Demonstrates Value of Automating Contract Lifecycle Management at ACC Meeting

Oct. 3, 2008 - PRLog -- SEATTLE – At this year’s Annual Meeting of the Association of Corporate Counsel (ACC), to be held here October 19-22, Selectica , a leading provider of contract lifecycle management (CLM) solutions (http://www.selectica.com/ContractManagement/Overview/tabid/556/Default.aspx) , will demonstrate its Contract Performance Management (CPM) software platform, showing attendees how the legal department can use CLM enterprise technology to support compliance with regulations such as Sarbanes-Oxley and to contribute to corporate fiscal performance. Selectica will be demonstrating its CPM platform in Booth 423.
Using Selectica’s CPM as a central repository for contracts (http://www.selectica.com/ContractManagement/Industries/Fortune1000GeneralCounsel/tabid/572/Default.aspx makes it easy to search existing contracts, create new contracts, and standardize contract language, negotiations, distribution, and approvals. As a result, many corporate legal departments have been able to create flexible and comprehensive contract templates that standardized terms and processes. CLM technology effectively enables self-service creation of contracts by sales and procurement executives without fear of contractual risk, freeing corporate counsel to focus on more pressing issues.
“The ACC Annual Meeting is the ideal venue to demonstrate to America’s corporate lawyers that CLM technology actually simplifies their jobs without surrendering control,” said Jason Stern, Vice President of Products and Business Development for Selectica. “Automating contract management simplifies contract drafting and approval processes, and makes it easier to identify and assess risk in contracts in the queue. It actually creates greater visibility into contracts to manage risk, and makes the legal department an active participant in generating corporate revenue.”
With enterprise CLM technology, corporate counsel (http://www.selectica.com/ContractManagement/Industries/Fo...) can consolidate management of all types of contracts (http://www.selectica.com/Solutions/ContractTypesusedbySel...) including sell-side, vendor deals, leasing, intellectual property, and other business relationships through a single platform. It also assures that contracts are complete and archived correctly, and that contract milestones are managed properly. The system can be set up with alerting and reporting to manage events and contract renewals, including alerts for contracts that should be renegotiated or allowed to expire. It also shortens cycle times for sales agreements, improves order accuracy (which reduces risk), and provides unprecedented visibility into contract terms and compliance, which can expedite compliance with audits.
And CLM technology helps legal departments cope with regulatory risk by simplifying tracking of contractual relationships that relate to Sarbanes-Oxley, Stark III (http://www.selectica.com/ContractManagement/Industries/He...), and other regulations. CLM automates normally manual processes such as auditing and reporting and creates transparency into contractual relationships to make it easier to assess operation efficiencies, and process and execution performance that directly relate to regulatory compliance.
For more information, visit Selectica’s web site at www.selectica.com.
About Selectica, Inc.
Selectica provides its customers with software solutions that automate the complexities of enterprise contract management and sales configuration lifecycles. The company's high-performance solutions underlie and unify critical business functions including sourcing, procurement, governance, sales and revenue recognition. Selectica has been providing innovative, enterprise-class solutions for the world's largest companies for over 10 years and has generated substantial savings for its customers. Selectica customers represent leaders in manufacturing, technology, retail, healthcare and telecommunications, including: ABB, Ace Hardware, Bell Canada, Cisco, Covad Communications, General Electric, Hitachi, Juniper Networks, Levi Strauss & Co., Rockwell Automation, Tellabs, and 7-Eleven. Selectica is headquartered in San Jose, CA. For more information, visit the company's Web site at www.selectica.com.

Investor Contact:
Scott Wilson, 415-768-7945, ir@selectica.com
Media Contact:
Tom Woolf, 415-259-5638, pr@selectica.com