For immediate release: August 25, 2009
||Upside Software Announces Double Digit Growth
Upside Software completed its 2009 Fiscal Year with a double digit growth in both revenues and profits
EDMONTON, ALBERTA, CANADA — Upside Software, the global leader in Contract Lifecycle Management software announced today its May 31, 2009 fiscal year beat the average in growth across its industry and the forward outlook continues to look promising.
grew revenues by over 30% from the year before and in the same period
experienced an EBITDA (Earnings Before Interest, Taxes, Depreciation and
Amortization) growth of over 80%. Its assets also experienced a double
digit growth and its current and quick ratio are both over 5. Upside
Software has been profitable since its second year (2001) and is one of
the few (if not only) profitable pure-play providers in the enterprise
contract lifecycle management market. It also has amongst the largest
number of customers in the market as well as number of licensed users.
companies having to dig deeper for savings and efficiencies, while
having limited resources to work with, automation of their contract
management lifecycle has risen to the top in terms of priorities. Chief
Financial Officers, General Counsel’s and Chief Procurement Officers are
taking a very serious look at overall contract efficiency and leveraging
process and technology to improve their cycle time while ensuring
excellence in governance and compliance.
“It is clear
to me that organizations truly understand the value contract management
software solutions like UpsideContract can deliver” said Ashif Mawji,
Upside Software’s President and CEO. “Our growth demonstrates our
customers confidence in our products, our team and our company and we
are indeed very proud of the accomplishments to date. The forward
pipeline is also very strong and all signs point to another healthy
growth in both revenues and EBITDA for 2010.”
Recently, Upside Software
also launched its UpsideLive (www.upsidelive.com)
product which is based on its award winning and market leading, UpsideContract
offering. The UpsideLive is a true SaaS (Software as a Service) offering that is
indeed very affordable (starting at about $150/month for up to 3 users) and can
help address needs of customers who are looking to get started quickly and
benefit from the value contract automation can bring.
About Upside Software Inc.
Upside Software is the worldwide leader in Contract Lifecycle Management (CLM) solutions with hundreds of deployments in about 180 countries. Upside’s award winning product suite, including their UpsideContract solution, offers a fully automated contract management process that starts from collaborative contract creation, negotiation and award, and includes risk, performance, compliance and deliverable tracking and management, financial processing (e.g. invoices and payments), and on-going event monitoring and management. UpsideContract also includes a wizard-like request entry function, amongst the best Microsoft Word integration, and extensive security and business intelligence features.
Upside Software has extensive experience delivering real value to customers of every size and in virtually every industry vertical. Upside Software offers both on-premise and SaaS solutions. For more information visit the company’s website at
For more information, contact: