Selectica Inc was incorporated in California in June 1996 and re-incorporated in Delaware in November 1999. The Company provides cloud-based software solutions that help companies close deals faster, with less cost, and with lower risk. Its Contract Lifecycle Management (CLM) combines a single, company-wide contract repository with a flexible workflow engine capable of supporting each organizations unique contract management processes. Its cloud solution streamlines contract activities, from request, authoring, negotiation, and approval through ongoing obligations management, analysis, reporting, and renewals. It helps companies automate their contract processes, providing a greater level of access to contracts and supporting documents while lowering risk, increasing compliance, and discovering opportunities to increase contract value. The Company's Guided Selling streamlines the management and dissemination of complex product information, enabling companies to streamline the opportunity-to-order process. Its Guided Selling solution can be seamlessly integrated with CRM systems such as Salesforce.com and others, as well as ERP systems like Oracle and SAP, to ensure that the latest product, customer, and pricing data is always being used. This helps to simplify and automate the configuration, pricing, and quoting of complex products and services. By empowering customers, product management, marketing, sales leadership, sales operations, salespeople, and channel partners to generate accurate sales proposals more quickly, it believe its cloud solution helps companies to close deals faster, accelerate revenue generation and enhance customer relationships. The Company offers its customers purchasing and deployment options, from subscription licenses deployed in the cloud to perpetual licenses deployed behind the firewall. Along with its software, The Company provides its customers with an array of services to assist them in implementations, customizations, system upgrades, migrations, and solution architecture. It encounters competition mainly from publicly-held and private software companies that offer integrated solutions or specific products that compete with its CLM or GS solutions, information systems departments of potential or current customers that internally develop custom software, and professional services organizations.