Selectica and Seal Software Group Partner to Provide Contract Discovery and Faster Legacy Load
Marketwired
SAN MATEO, CA--(Marketwired - Jun 6, 2013) - Selectica (NASDAQ: SLTC), a provider of software that accelerates sales cycles and streamlines contract processes, today announced that it has partnered with Seal Software Group, a provider of solutions to discover, capture, extract and manage contracts. The partnership will provide customers with a faster, more efficient way to load their organization-wide contracts into Selectica Contract Lifecycle Management (CLM) and drive immediate value following implementation.
"Companies come looking for contract management tools when such issues as a lack of contract visibility, controls, and compliance become a liability," said Dan Daehler, Vice President of Global Services and Channels for Seal Software. "Our partnership with Selectica gives customers what they need to fully leverage legacy contracts and the corresponding contractual terms, aiding risk management while enabling visibility and reporting."
Using Selectica and Seal Software, enterprises with thousands of contracts that span the course of their organization's history will now be able to upload, extract, and map contracts and contract data from a number of different file and image types, and quickly load them into the Selectica Contract Lifecycle Management repository where they can be tracked, maintained, analyzed, and reported on.
"With their deep domain experience in enterprise software and global reach to a number of industries we cater to, partnering with Seal Software made perfect sense for us," said Jason Stern, President and CEO of Selectica. "Customers will now have all the tools they need to smooth the legacy load process, and an effective ongoing way to populate their contract repositories."
Working in tandem, Selectica and Seal Software give businesses the ability to:
Quickly find contracts in shared folders and document storage systems and make them searchable documents in a contract repository
Significantly increase upload speed for contracts entering the CLM system
Automatically extract key contract data, including information in embedded images or image files
Gain complete visibility into contract milestones, deliverables, expirations, and renewals
Streamline contract processes, from request, authoring, negotiation, and approval through ongoing obligations management, analysis, reporting, and renewals.
About Selectica 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.
About Seal Software Group Seal Software Group has created a new market segment, Contract Discovery and Analytics, with its unique Seal cDiscovery solution.
Seal cDiscovery addresses compelling pain points within all enterprises: how to find contracts, extract clauses, render them for easy review, and populate corporate repositories -- CRM, CLM, ERP, SRM -- with contract data.
Seal cDiscovery is installed in minutes and, without expensive configuration, automatically discovers existing contractual documents from a wide range of document and image file types. It also automatically extracts key clause metadata and provides an easy format for further review, as well as a platform for on-going management of contracts, with a fully searchable repository and obligation management tools. Critically, it allows easy migration of contracts and metadata to the full range of enterprise platforms.
Seal has the vision to make Seal cDiscovery the cVault for every enterprise -- a central repository representing the 'single source of the truth' for contracts, used to process in-bound contracts, audit the enterprise for rogue contracts, and provide a single search, reporting and migration tool for regulatory, transactional and strategic purposes, accessed by every major enterprise process for which contracts are important.
Seal helps organizations in verticals such as legal services, financial services, oil and gas, high-tech, pharmaceutical, media, manufacturing, transportation, and telecommunications achieve control of their contracts and obligations for compliance, cost saving and competitive advantage.
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 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.
