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UpsideContract-LITE frequently asked questions
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What is UpsideContract-LITE?
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UpsideContract-LITE is a scalable and flexible solution that offers companies the ability to purchase only the required functionality, and add functionality in the future as requirements grow. This approach allows organizations to obtain a feature-rich contract management solution with a minimum investment that can then be scaled up to the enterprise-class functionality of the full UpsideContract solution as requirements expand and budget permits.
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What types of contracts does UpsideContract-LITE handle?
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UpsideContract-LITE handles all types of contracts including buy-side, sell-side, Intellectual Property, employment agreements, non-disclosure agreements, etc.
UpsideContract-LITE manages contracts relating to goods by tying into inventory systems or by maintaining the items within UpsideContract-LITE. The ability to enter purchase orders, or link to them, ensures data integrity. For services type contracts, effective management of various services and relevant details for those services is possible.
Visit the UpsideContract-LITE product section for more details.
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What is the difference between UpsideContract-LITE and UpsideContract?
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UpsideContract-LITE is a scaled down version of our enterprise-class solution, UpsideContract. UpsideContract-LITE provides customers with a subset of the UpsideContract functionality at the lowest possible price. Many organizations do not require the full feature set that UpsideContract offers, so why pay for what you don't need?
UpsideContract-LITE can be tailored to deliver the specific functionality that your organization needs; as requirements expand over time we can simply turn on the additional features you need...right up to the full functionality of
UpsideContract.
Visit the UpsideContract-LITE product section for more details.
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Can I start small and grow as time goes on?
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UpsideContract-LITE is extremely flexible and scalable. It can be tailored to meet your specific requirements from the very start, and then additional functionality can be "turned on" as you require.
Upside Software’s pricing models allow you to start with a small number of users and grow over time.
Visit the UpsideContract-LITE product section for more details.
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Can UpsideContract-LITE support our efforts to become compliant with the Sarbanes-Oxley Act?
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To help become and stay compliant with the Sarbanes-Oxley Act (SOX) requirements, organizations are leveraging contract management systems to effectively manage and report on their contractual relationships and activities.
A robust contract management system provides the foundation for a set of business processes and systems that ensure the verifiable management and retention of records and information related to relationships and transactions that have a material impact on the financial position of the organization.
UpsideContract-LITE provides support for companies to meet requirements under all SOX sections that pertain to business systems and corporate responsibility, including sections 302, 401, 404, 409, 802, and 906.
Learn more by visiting our Sarbanes-Oxley Act page or
Contact us to learn more about how UpsideContract-LITE can help with SOX compliance initiatives.
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Does UpsideContract-LITE support Risk Management?
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The ability to manage risk is an optional feature in UpsideContract-LITE. The system provides a mechanism to identify, evaluate, track and manage risk events, drivers, and impacts.
With the risk management feature “turned on”, UpsideContract-LITE allows risk events to be identified including a text description of the event along with an estimated probability of occurrence and the estimated loss if the event were to occur (in time or dollars).
For each risk event:
- One or more Event Drivers can be identified, recording the reasons why the event may occur.
- One or more Impacts can be identified, documenting potential outcomes if the event were to occur, each with an assigned probability.
- Each Impact can have one or more Impact Drivers which document the elements contributing to the loss if the event were to occur.
- A specific user is assigned to the event; this will be the individual responsible for managing the risk event and taking steps to reduce the probability of occurrence.
- A specific event can be assigned to a contract or a project, including customer defined projects.
UpsideContract-LITE records details of actions taken to mitigate risk events and stores historic information on adjustments made to probability estimates.
The system provides extensive reporting capabilities providing stakeholders with an effective view of their risks, supporting material, and associated mitigation plans.
Contact us to learn more about how UpsideContract-LITE supports your risk management activities.
Visit the UpsideContract-LITE product section for more details.
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Can the system support document sharing in MS Word?
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UpsideContract-LITE supports Microsoft Word in three ways:
- MS Word export & import for off-line editing and negotiation.
UpsideContract-LITE supports the exporting of documents to Microsoft Word 2000 or higher. Users external to the UpsideContract-LITE application can modify the Word document using Microsoft Word then send it back to a user with access to UpsideContract-LITE. The document can then be imported back into UpsideContract-LITE while maintaining the structure and integrity of the document (sections, clauses, styles, headers and footers, fonts, etc).
- Conversion of MS Word contract documents into the UpsideContract-LITE database.
UpsideContract-LITE comes with powerful conversion tools to get existing contracts into the system quickly and effectively. The MS Word conversion tool takes existing contracts in MS Word and converts them into UpsideContract-LITE, allowing organizations to take full advantage of the extensive capabilities of UpsideContract-LITE to manage all contracts – new and old.
- Attached documents can be MS Word or any other type of electronic file.
UpsideContract-LITE supports attached documents of any type including Microsoft Word documents. Attached Word documents can be seamlessly incorporated into the contract (the content of the attached document becomes part of the contract text), or it can simply be stored as supporting information.
Contact us to learn more about how UpsideContract-LITE supports Microsoft Word documents.
Visit the UpsideContract-LITE product section for more details.
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Our existing contracts are in MS-Word or other systems. How can we bring these into the system?
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UpsideContract-LITE provides the same capabilities as UpsideContract for the conversion and import of full contract documents and / or specific sections:
- UpsideContract-LITE includes intelligent document import and conversion utilities that enable fast and effective conversion of existing documents into the system. This allows for fast and simple document conversion from MS-Word whereby respective sections, clauses, styles, header/footers, fonts from the existing document are recognized and imported into the application structure (into the database).
- Batch utility for bulk document conversion allows for users to place all existing contracts and / or templates into a specified directory and initiate the batch document load, which takes all the MS-Word or suitable documents and imports them into the application structure (right into the database) and recognize sections, clauses, styles, fonts, etc.
Online functions exist to insert documents and/or document sections into new contracts.
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Can UpsideContract-LITE integrate with other systems like ERP, CRM, legacy, etc.?
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UpsideContract-LITE offers the same systems integration capabilities as our enterprise-class contract management solution, UpsideContract. This means that it can be easily integrated with any ERP, CRM, or legacy system.
During the implementation phase, we will work with you to identify what systems you have presently and their role in terms of data created and stored, as well as how information should flow between those systems and UpsideContract-LITE.
UpsideContract-LITE is a great supplement to an existing ERP and/or CRM system. It enhances the benefits you are (or are planning on) receiving from the ERP/CRM systems.
Visit the Technology & Integration section for more details.
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Can UpsideContract-LITE support or enforce our company’s business rules and processes?
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UpsideContract-LITE supports user defined business rules and workflow. The system has been designed to allow companies to enter various rules, approval workflows, reporting hierarchies, and so forth into the system. If this information is being stored on other company systems, we can integrate with those systems to leverage the information from there.
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Does UpsideContract-LITE use Plug-ins or Applets?
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Absolutely Not! Our software does not use any applets, plug-ins or any downloadable components that reside on the end-user desktop for the management of contracts or related functions.
All you need is an Internet connection and a browser (Internet Explorer or Netscape) to run our software.
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What industries or verticals can the software accommodate?
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Upside Software’s products truly address the needs of practically any industry. Because our application’s data is extensible (by a non-technical end user), data fields that are captured by your company can be added to the system by a non-technical user using our web-based application.
Visit the Industry Solutions section for more details.
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What is the typical timeframe for implementation, and what are the steps?
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UpsideContract-LITE can be implemented very quickly. Because we tailor the deployment project to meet the needs of the customer times can vary, but the typical implementation is done in 5 to 10 days (often in as little as 3 days).
While we tailor the deployment project to meet the needs of the customer and to minimize deployment costs, we use a standard methodology that includes:
- Business process review and assessment
- Technical environment review, assessment and preparation
- Software deployment
- Business process, rules, workflow and G/L mapping determination and implementation
- Support personnel and pilot user training
- Pilot (limited scale) deployment
- Pilot review and adjust plans as appropriate
- Completion of user deployment and training
- Post implementation review
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Where can I find a complete list of the UpsideContract-LITE features?
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Click here to see the UpsideContract-LITE product sheet for a complete list of core and optional features.
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