Upside Software is Configured for Growth: Ashif Mawji wins BDC’s Young Entrepreneur Award for Alberta

EDMONTON, ALBERTA, CANADA — Seven years ago, when Ashif Mawji couldn’t find the type of contract management software he needed, he created his own company to provide it. Since then, Upside Software has become a leading global provider of enterprise contract management software, serving some 200 clients around the world. For that achievement, Ashif, 35, has won BDC’s Young Entrepreneur Award for Alberta and will be honoured tonight at a ceremony in Winnipeg, Manitoba.

Upside Software provides integrated business solutions for conducting contract management, sourcing and procurement, and billing management. The company, which started out with two employees, now numbers some 130 and serves a broad range of customers in the U.S., the United Kingdom, Germany and South Africa. Its customers represent everything from Fortune 500 companies to public sector organizations and SMEs. “We were profitable from the second year on,” says Ashif. In fact, between 2001 and 2006, Upside realized an increase of over 3,300% in revenues and more than 400% in profits.

An entrepreneur from the age of 12 when he sold watches on commission in his native Kenya, Ashif came to Canada when he was 15 and always knew he wanted to work for himself. He took his passion for computers and started a consulting firm in 1995, soon landing a major public sector contract with IBM.

Five years later, when he needed a software solution for contract management, he met with professionals from different disciplines to see if they had the same need. When he discovered they did, he founded Upside Software to provide the solution. “I recognized a business opportunity and took a risk; that’s how it started,” explains Ashif.

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Keeping to the program

Ashif believes in keeping his operation lean, being extremely responsive to customers and investing heavily in Research and Development. “We spend three times the industry average on R&D,” says Ashif. “We really push the limit and that’s how we stay ahead of the curve. We’ve been able to do that because we scrimped on marketing and sales costs by using Web-based marketing. Our first customer was BSNF Railway in the U.S., which found us through the Web. We’re at the point now where our customers sell our product for us.”

Giving back to the community is a way of life for Upside Software. “It’s a belief that my parents passed on to me,” explains Ashif, who sits on the boards of a number of charitable organizations. “Upside has been giving to charity from day one,” he explains. The company matches employees’ contributions to the United Way to help bring the philosophy of giving back into the company. Upside also shares profits with its employees, dedicating about 20% of pre-tax earnings to the profit-sharing pool.

“Upside Software is a real success story. By taking a risk and making smart business decisions, Ashif has put his company at the forefront of its sector and attracted clients from around the world. He is a role model for other young Canadian entrepreneurs,” says BDC President and CEO Jean-René Halde.

“If you’re going to do something, do it because you believe in it. Do it because you like it. Never do it for the money. The money should be an end result, not a driver,” sums up Ashif.

Young entrepreneurs in the spotlight

BDC’s Young Entrepreneur Awards are a highlight of Small Business Week, providing the opportunity to honour the entrepreneurial spirit and business success of Canadians between the ages of 19 and 35. Winners from each province and territory are selected by a panel based on the originality of their business concept, its success, growth potential and their community involvement. The panel also considers the entrepreneur’s age when the business was started and any special challenges that had to be faced.  

Small Business Week partners

Contributing to the success of this year’s Small Business Week and Young Entrepreneur Awards are the following national sponsors: Western Economic Diversification Canada, Export Development Canada and Rogers. Privileged partners are the Pan Canadian Community Futures Group and the Canadian Chamber of Commerce, which has been a privileged partner of the event since 1981.

About BDC

BDC is a financial institution wholly owned by the Government of Canada. BDC actively supports the development and growth of Canadian small and medium-sized businesses through its complementary financial, investment and consulting solutions. BDC is one of Canada’s Top 100 Employers for 2007. Visit www.bdc.ca for more information.

Small Business Week is a registered trademark of BDC.

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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