Recent Aberdeen Group survey shows that an average of 9% of a company’s revenues are lost due to regulatory penalties, missed deadlines, lost sales, pricing errors and maverick behavior

EDMONTON , ALBERTA , CANADA — Upside Software, the global leader in Contract Lifecycle Management software, has garnered top overall position in a recent Aberdeen survey pertaining to value received by customers who have deployed and are using contract management software.

According to Aberdeen Group’s Vishal Patel, “As shown above the performance of SAP and Oracle customers looks very similar. However, that of Upside Software users (a contract management solution provider) is somewhat higher than the ERP/CRM providers in all but one case. When compared to Best in Class enterprises, Upside customers performed slightly better in the reduction of their Days Sales Outstanding (DSO) which is certainly one of the most valuable attributes of contract management.”

In the same report, Vishal adds “In the coming years, the amount of contractual relationships in an enterprise is on the rise, both with suppliers and more importantly, with customers. An recent Aberdeen study found that on average 9% of revenues are lost due to regulatory penalties, missed deadlines, lost sales, inappropriate payment terms, “maverick” pricing and transactional errors. This is clearly a substantial amount and worthy of serious attention.”

The demand for contract management software is increasing rapidly and Upside Software has about 200 customers as well is one of the only profitable pure-play providers in the market. Upside presently wins 8 out of every 10 deals that arises from a structured sourcing process (e.g. RFP, RFI, etc.). Vishal Patel of the Aberdeen Group added, “Upside continues to gain traction in various industries with an impressive list of customers, including 3M, NCR, HP, John Deere, JC Penny, Anheuser-Busch and others. Over the last five years, Upside has shown significant growth in both revenue and profit, which have grown by over 400%. In total, Upside Software has about 200 customers with approximately 500,000 users managing well over $500 billion in contracts.”

Upside Software CEO, Ashif Mawji indicates “It’s indeed rewarding to see our customers get a significant Return On Investment - ROI in such a short period of time – our average is about 6 months for a full ROI. Upside customers are amongst the best-in-class in a number of industry studies and we are proud to be their partner for contract management software.”

To read the full Aberdeen briefing, please click on the link below (or cut and paste it into your browser window)

http://www.aberdeen.com/c/report/research_briefs/CLM_Q2C_RB_VP_3879.pdf

About Upside Software Inc.

Upside Software is the worldwide leader in Contract Lifecycle Management (CLM) solutions. Customers around the globe use UpsideContract and other integrated business solutions to confidently perform Contract Management, Sourcing & Procurement, and Invoice & Billing Management activities throughout their organizations. Upside Software’s products address the needs of Enterprise (e.g. Fortune 500, Global 2000), Public sector (Federal, State/Provincial, Municipal and Health Care), and Small & Medium Enterprise (SME) customers. Customers realize significant cost savings while improving customer and supplier relationships. Upside Software’s solutions are deployed in as little as 3 days and typically provide a full return-on-investment (ROI) in under a year. Founded in 2000, Upside Software is a profitable, growing company with an advanced, yet mature, and comprehensive product suite. The company has extensive experience delivering real value to customers of every size and in most industry verticals. Upside Software is headquartered in Edmonton, Alberta, Canada – for more information visit the company’s website at http://www.upsidesoft.com/ 

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