|
San Jose, Calif. – July 1, 2009 – Selectica (NASDAQ: SLTC), a leading provider of enterprise contract lifecycle management solutions, today announced that the United States Pharmacopeial (USP) Convention, a nonprofit standards-setting organization that advances public health, has chosen to implement Selectica Contract Lifecycle Management. Full rollout of the Selectica solution across the organization is expected in 90 days.
“The more efficient we are in our operations, the greater our ability to positively impact global public health,” said Susan de Mars, USP’s General Counsel. “Automating contract creation, contract approval workflows, and contract report generation for all of our functional departments will go a long way towards making the most of our limited resources and reaching that goal.”
USP will rely on Selectica Contract Lifecycle Management to automate the handling of more than 20 complex contract types. These include distribution agreements for different types of reference standards and publications, developer and teaching agreements for educational course content, as well as contracts with facilities that host a wide range of USP events. In addition, USP will also use the Selectica solution for managing NDAs and subcontracts associated with federal grants.
Before choosing Selectica as its contract management solution vendor, USP completed a comprehensive market survey. “Our final selection was made on the basis of breadth of functionality, ease of use, availability of a software-as-a-service offering, financial stability, industry experience, and domain expertise,” said de Mars. In addition, a key benefit of the Selectica solution to USP is its ability to support multiple workflows—a differentiator that enables USP to ensure all contract types and processes are handled in the most efficient way possible.
“Our automated contract management solution represents a sizable investment for USP,” de Mars said. “We’re pleased that we will be able to reap benefits just two months after signing the contract, and we look forward to quickly achieving significant dividends. We’re confident these will be realized because, with the solution’s contract repository, we will gain the ability to automatically and accurately track expenditures across contracts and better control revenue leakage.”
About USP
The United States Pharmacopeial (USP) Convention is a scientific, nonprofit, standards-setting organization that advances public health through public standards and related programs that help ensure the quality, safety, and benefit of medicines and foods. USP's standards are recognized and used worldwide. For more information about USP visit http://www.usp.org.
About Selectica, Inc.
Selectica (NASDAQ: SLTC) provides Global 2000 companies with solutions that automate complex contract management and sales configuration processes. Selectica's enterprise solutions streamline critical business functions including sales, procurement, and corporate governance, and enable companies to eliminate risk, increase revenue, and cut costs. Selectica customers represent leaders in manufacturing, technology, retail, healthcare, and telecommunications, including Bell Canada, Cisco, Covad Communications, Fujitsu, Hitachi, International Paper, ManTech, Levi Strauss & Co., Qwest Communications, Rockwell Automation, Tellabs, and 7-Eleven. 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-KSB, and other reports filed by the Company with the Securities and Exchange Commission. |