Contract & Commitment Lifecycle Management Software market continues to gain momentum with significant interest brewing across all industries and geographies

EDMONTON, ALBERTA, CANADA —Upside Software Inc. has successfully closed (won) 10 new deals in the past two weeks and also completed a very successful annual user conference held in Edmonton during September 10 through 12th, 2007.

“Our 5th annual user conference was the best ever and attendees have rated the conference at over 4 out of 5 in terms of overall value,” said Ashif Mawji, President and CEO, Upside Software. He added, “We had excellent representation from our customers across the various industries and countries and the conference included three customer case studies delivered by representatives from Hilton Hotels International, Procter & Gamble and 3M. The Upside Software team also gave a sneak preview on our upcoming version 6, which got very favorable reviews and generated significant excitement. IACCM’s Tim Cummins also delivered an informative keynote, which set the stage for how organizations can strive for excellence in this ever competitive global marketplace.”

During the annual user conference, Upside Software revealed the framework of its upcoming version 6 and the key features and benefits. The blueprint is based on customer feedback, including requests for enhancements and new features. Upside Software invests about three times the industry average on R&D and chooses to focus more on R&D versus sales and marketing, which has also enabled the company to be profitable since its second fiscal year in 2001. It has also realized a revenue growth of about 4,000% in the last five years.

The Contract Lifecycle Management (CLM) market has been growing at a very healthy rate and all the leading analysts are projecting a robust increase over the next five years. Upside Software tends to win 8 out of 10 deals that arise from a formal procurement process (i.e. RFI, RFP, etc.) and this has led to Upside Software securing an even greater market share. 

Some of the recent wins include:

1. Blue Cross Blue Shield Nebraska 
2. USI Holdings 
3. Questar Gas 
4. Sun International based out of South Africa
5. First National Bank based out of South Africa
6. Large healthcare organization in the US (switching from a competitive product to UpsideContract)
7. Large professional services and staffing firm in the US (switching from a competitive product to UpsideContract)
8. Large Telecom Equipment manufacturer (switching from a competitive product to UpsideContract)
9. One of the largest Pharmacy Benefit Management organization in the US
10. Large North American Telecommunications provider

Mawji adds: “It has been truly incredible as to the excitement in this market and Upside Software is proud to add to our existing roster of well over 200 clients in the various industries around the world. The forward pipeline is incredible and we are on track this fiscal year to grow by over 50% from last year, which is indeed impressive and I have our exceptional team and our loyal customers to thank for these solid results.” He continues to say, “Over the past two years, we have also seen a number of clients migrate from competitive platforms to Upside’s award winning solution and for various reasons. We are indeed honored that they have put their trust in our solution and company and look forward to earning their business and making certain a successful deployment.”

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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