Press Releases

TILBURG, NETHERLANDS and EDMONTON, ALBERTA, CANADA—Interpolis Verzekeringen NV and Upside Software Inc., an integrated enterprise solution provider, announced today the signing of an agreement between the two companies for Interpolis’ purchase and deployment of Upside Software’s enterprise contract management eBusiness product – UpsideContract.

UpsideContract streamlines the contract management process beginning with the issuing of RFX (e.g. RFP – Request For Proposals), contract creation, negotiation and awarding through to on-going monitoring and performance tracking as well as contract renewals and amendments. The software can help organizations streamline their operations and reduce related expenses by up to 80%. The demand for contract management software is growing steadily. According to Gartner Group, the market for contract management software and services will hit $20 billion US by 2007. As organizations understand the incredible return on investment (ROI) opportunities resulting in contract management software implementations, the software popularity will increase even more.

“The selection of Upside Software’s Contract Management module by Interpolis is a great win for us. We are looking forward to working with Interpolis and setting a new standard in the Insurance industry worldwide with best practices in Contract Management.” said Upside Software CEO, Ashif Mawji.  Mr. Mawji went on to say, “We are proud to have been selected by Interpolis to help with streamlining their contract management process. This is a great opportunity for us to continue our strategy in working with top-notch companies worldwide, and in this case, Europe.”

”We are confident that we have chosen the right solution for managing our purchasing related contracts." said Marco Sichtars, Manager Corporate Procurement from Interpolis.

He continued to say, “By using UpsideContract we can improve the contract compliance within Interpolis and thus save a lot of time, energy and money. We foresee a drastic decrease in the total time for contract creation. The fact that UpsideContract is completely based on Microsoft software, especially “.Net”, is important for us. The same goes for the fact that integration with our BackOffice (ERP) systems is very easy.”

The project started in mid-November and the go-live date has been set for the first of February 2003. This includes the integration with the BackOffice system and an integration with Interpolis’s Enterprise Document Management system.

About Interpolis

Interpolis is one of the largest and most innovative insurance companies in the Netherlands. Interpolis provides customised solutions to private persons and businesses for a wide variety of risks. This not only has to do with solid insurance policies but also involves good, personalised advice and real support in the event of a loss. If you report your claim directly to Interpolis you can count on a quick, smooth settlement with a minimum of formalities.

The solutions Interpolis provides in the fields of life and non-life insurance, pensions, and income provisions are easily accessible through all the Rabobank branches in the Netherlands, as well as through a large number of independent intermediaries. More information can be found on www.interpolis.com.

About Upside Software Inc.

Upside Software provides integrated enterprise solutions that streamline financial and business operations for companies of any size. The company's web-based solutions focus on contract management, electronic billing, expense claim management and time-based resource booking management, and are based on Microsoft technologies. By leveraging these solutions and applying industry best practices, Upside Software's customers can significantly reduce operating costs and dramatically improve customer and supplier relationships. The company's solutions are typically deployed within 40 days and provide a full return-on-investment (ROI) in less than one year. For more information about Upside Software and its suite of business solutions, visit the company's Web site at www.upsidesoft.com.

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