SAN MATEO, CA, January 13, 2016 – Determine (NASDAQ: DTRM), a leading global provider of SaaS enterprise contract lifecycle management, strategic sourcing, supplier management, and procure-to-pay solutions, announced that a multi-billion dollar revenue global services company selected Determine Contract Lifecycle Management (CLM) as the solution to manage its enterprise contracting needs.
Determine’s CLM solution streamlines the entire contract lifecycle, from contract request, authoring, negotiation, and approval, through contract execution, amendment, and renewal. The solution provides an enterprise view of contracts and comprehensive reporting capabilities which will allow the global financial services company to automate the ongoing supervision of contractual relationships by consolidating and maintaining accurate contract data while also minimizing risk and improving compliance.
The customer’s contract management solution selection process consisted of a rigorous evaluation of solutions from multiple vendors in the contract management and risk management spaces. The combined complexity of their agreements and required contract oversight necessitated a solution much more robust than their previous solution. They ultimately decided in favor of Determine’s solution based on several key business criteria, including the flexibility of its authoring tools, the highly configurable nature of the system and the ability to gain an effective view of the prevailing language and terms across multiple contract amendments.
“More and more, forward-thinking financial services institutions see the critical role that Determine Contract Lifecycle Management plays in mitigating risk and ensuring corporate governance and compliance strategy,” said Patrick Stakenas, President and CEO of Determine. “We’re honored to have this industry leading financial services corporation join the ranks of leading companies that have chosen to manage risk and improve compliance with Determine CLM solutions.”
Certain statements in this release and elsewhere by Determine 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, product and channel development, 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 fluctuations in demand for Determine’s products and services, risks of losing key personnel or customers, protection of the company’s intellectual property and government policies and regulations, including, but not limited to those affecting the company’s industry. Determine 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 as filed by the company with the Securities and Exchange Commission.
About Determine, Inc.
Determine (NASDAQ: DTRM) is a provider of leading enterprise cloud software solutions with over four decades of collective technical and process knowledge in the areas of strategic sourcing, enterprise contract lifecycle management, and procure to pay solutions. We provide the next generation of agile, enterprise cloud solutions for managing the needs of modern business. Using our intuitive applications, organizations can effectively manage the full scope of source to pay and enterprise contract lifecycle management requirements using the Determine platform.
The Determine platform is an open technology infrastructure based on smart process application models. The goal of our platform is to establish awareness of relevant data, manage business documents, embed analytical tools, create a means for collaboration, and provide advanced process management tools for fully integrating business processes through an open API infrastructure. Built on a unified and highly scalable platform, we deliver deep and innovative capabilities in strategic sourcing, supplier management, enterprise contract lifecycle management, e-procurement, invoicing, and other business operation areas.
In addition to our source to pay and enterprise contract lifecycle management solutions suite, we also provide a powerful, patented configuration engine solution, which Global 1000 companies use to increase revenue by facilitating the right combination of products, services, and price.
For more information, please visit: www.determine.com.