Selectica CEO Blaine Mathieu told us in April the latest version of his company's contract management solution is like CMS “on steroids.”
With the provider’s acquisition of Iasta this month, Selectica could be banned from Major League Baseball for steroid use.
Iasta, a Gartner leader in its 2013 Magic Quadrant for Strategic Sourcing Application Suites, brings to Selectica its suite for upstream procurement solutions. Selectica’s wants Iasta to complement its own contract management solution.
“We started as a strategic partnership, but it became apparent that we could be much more powerful together than apart,” CEO Mathieu said.
Where Selectica provides the platform for enterprises to initiate, ma0nage and optimize contracts, Iasta’s all about the “procurement side of the enterprise.”
Selectica will be keeping the Iasta brand for now. Why not? It has the Gartner leader citation in its arsenal. In all, this will bring the Selectica workforce in total to about 230.
Officials say the merger will help enterprises transform procurement into a strategic enterprise function.
The technologies together will have the ability to:
- Turn decision-making into a collaborative activity to gain insight and solve business problems
- Focus on quality and process improvement through scalable, turn-key solutions
- Accelerate and streamline project scoping and project management
- Offer technology focused on strategic sourcing, business intelligence, spend analysis, supplier management with contract management solutions
Who Benefits? What’s Unique?
The Selectica platform is currently based on different pricing models, on a per contract and a per seat or subscription basis. It’s all SaaS in the cloud, and it can vary anywhere from $75,000 to “six figures,” according to officials.
Selectica targets vice presidents of procurement, directors, contract management for strategic sourcing (e-procurement), contract ecosystems and IT.
Asked what makes the platform unique from competitors, Mathieu told CMSWire his organization’s contract management platform is “highly configurable” and flexible for large enterprises. Companies will not, he said, have to “reorganize workflows to accommodate a piece of software. You want the software to accommodate your workflow.”
He boasted about the platform’s analytics capabilities. Such analytics help companies find discount opportunities and track performance management.
“It’s in-depth analytics that you can pull out of contracts,” Mathieu said.