REDWOOD CITY, Calif.--July 17, 2006--Nextance Inc., the top choice for enterprise-wide contract management (CM), today raised the industry bar again by introducing Contract Insight Now!, its latest service package that implements the highly-acclaimed Contract Insight solution in just one week, including data migration. With immediate contract management capabilities, companies can begin to minimize the risk and maximize the reward of all of their business relationships.

Contract management (CM) is increasingly recognized as critical, especially for large businesses which typically have 10,000 to 100,000 and more contracts in place. CRM and ERP systems do not capture all the information they need about suppliers, partners and customers, and document or content management is also not enough. Without CM, what businesses don't know can hurt them, such as whether they are: meeting all their obligations with business partners, and vice versa; getting the best prices from suppliers; at risk from maverick spending; receiving all IP licensing fees and royalties they are entitled to; or in compliance with Sarbanes-Oxley Act and other regulations.

Although enterprise technology deployments are often perceived to be overwhelming, lengthy and costly in terms of both time and money, Contract Insight Now! eliminates those barriers and presents the very first step to CM: an out-of-the box deployment, complete with data migration. The low-risk solution minimizes the need for IT resources as both the solution and the data live behind the company's secure firewall, in contrast to rented or hosted applications. As a high-impact approach, Contract Insight Now! gives a "quick win" for the organization. In just one week, companies can start to drive savings and revenue by:

-- Finding hidden opportunities and making decisions based on complete data, not assumptions or subsets of data;

-- Tracking financial and other commitments by the company, suppliers, partners and customers; and

-- Providing visibility into milestones, events and obligations for all stakeholders companywide

Vishal Patel, research analyst for global supply management at Aberdeen, explained the need for contract management automation: "Contract management is critical to effectively manage the sheer number of contracts that some companies process. Companies are realizing that, which is why the CM market is poised for growth. Nearly a third of the companies we surveyed plan on investing in CM inside the next two years, but a key obstacle is still corporate priority or not realizing the benefits of such solutions. Contract management vendors must make it easy for companies to adopt CM technology."

Nextance's latest innovation overcomes that obstacle by finding the right balance between a simple deployment and rich capabilities, which can later scale and be customized for broader needs. As further evidence of market need, Aberdeen also estimates that, of the tens of thousands of contracts a typical enterprise has in place, approximately a third of the customer contracts are unmanaged, and that not properly managing supplier contracts costs businesses $153 billion per year. Aberdeen also found that an astonishing 85% of companies are still using manual or partially-automated processes to manage contracts.

Nextance's Contract Insight Now! enables full-text searching and tracking to give visibility into master contracts as well as service level agreements, statements of work, addendums and attachments to: alert to expirations, milestones, commitments and obligations; track performance; ensure compliance with regulatory, insurance and permit requirements; and identify risks and opportunities. Its robust reporting helps manage contracts, suppliers, partners, customers and employees, with over 230 standard contract attributes tracked. The solution can scale and be customized for broader needs - for instance, providing the foundation for future authoring needs or integrations such as automated invoice reconciliation.

Nextance's best-practice deployment includes installation, training, planning and personalized support. With a proven legacy data migration process that pulls necessary information from a spreadsheet, Nextance pre-populates Contract Insight Now! with customer data -significantly accelerating what is traditionally a difficult and time-consuming task.

Kyle Bowker, president and chief executive officer of Nextance, stated, "Our new Contract Insight Now! raises the bar we set last year with our QuickStart deployment of Contract Insight. We've found that many companies want to start more simply and don't need much customization work. Nextance's new solutions package opens the door for an even faster, out-of-the-box deployment without sacrificing functionality and benefits."

About Nextance Inc.

Nextance is setting the standard for enterprise contract management (CM) solutions with innovative software and best-practices professional services. Global 2000 companies are improving financial and business performance by using Nextance CM to improve the standardization, visibility and control of their contractual relationships. Countrywide, Covenant Health, Eastman Chemical Company, Fireman's Fund, Genzyme Corporation, Google, Juniper Networks, Peabody Energy, Sasol, Sun Microsystems, and others are using Nextance software every day to tap into the value that is written into each of their thousands of revenue, procurement, intellectual property licensing, and partner agreements. Nextance is based in Redwood City, CA, and is privately held. For additional information, visit: www.nextance.com.