Upside Software poised to lead the way in growing market for contract lifecycle management software

EDMONTON, ALBERTA, CANADA— Upside Software Inc., an integrated enterprise contract management software provider, is pleased to announce the availability of Aberdeen Group’s most recent study on the Contract Lifecycle Management (CLM) market entitled, The Contract Management Solution Selection Report – Handbook for CLM Strategy & Solution Selection.

Demand for contract management automation software is on the rise as increased emphasis and pressure has been placed on executives to improve profitability, regulatory compliance, and risk management. In the report, Aberdeen Group predicts that contract lifecycle management application revenues will increase 27% this year; and maintain year-over-year growth rates above 20% through 2008. Over the past twelve months Aberdeen has also found a greater than two fold increase in the number of requests for proposal being issued by organizations in search of contract management solutions. Estimates have contract lifecycle management revenues (licenses and services) pegged at approximately $700M in 2005; this figure is expected to grow beyond $1.4B by 2008.

“The recent Aberdeen Group study confirms what we are seeing in the marketplace,” said Ashif Mawji, President and CEO of Upside Software. “Organizations have started to realize the importance of having a complete picture and easy access to all their contractual agreements and are now prioritizing contract lifecycle management solutions as one of their top business application investments,” continued Mawji. “Upside Software has already helped almost 100 organizations improve their contract management processes. We are proud to be a pioneer in this industry and we are extremely excited to lead the way as the market continues to expand.” 

Aberdeen Group assessed more than 40 CLM implementations and 20 CLM solutions for this report which examines the criteria and best practice approaches of enterprises with top-performing contract management operations and solution deployments. Based on this research, Aberdeen recommends that enterprises assess CLM application capabilities in five key areas: (1) contract creation, (2) contract repository, (3) contract management, (4) reporting and analytics, and (5) integration and services. 

To receive a complete copy of the latest Aberdeen research report, visit the Upside Software website at http://www.upsidesoft.com/ or http://www.aberdeen.com/link/sponsor.asp?spid=30410023&cid=1944. Additional information on Aberdeen Group can be found at http://www.aberdeen.com and more information on Aberdeen’s collection pertaining to Contract Lifecycle Management can be found at: http://www.aberdeen.com/common/COE/Contract_Mgmt.asp.


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/ or one of its product sites: http://www.upsidecontract.com/, http://www.upsidecontractlite.com/, http://www.contractbuddy.com/, http://www.upsiderfx.com/, http://www.upsidebilling.com/.

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