Recent Aberdeen Group survey shows the importance of contract management software in a company’s strive for excellence in the quote-to-cash cycle.

EDMONTON , ALBERTA , CANADA — Upside Software, the global leader in Contract Lifecycle Management software is proud to offer an insightful complimentary report from the Aberdeen Group that discusses in detail how contract management software can play a relevant role in streamlining your quote-to-cash cycle.

Some of the relevant findings shared in this report include:

·         According to the 189 participants in the study, the percentage of an enterprise’s revenue that is dictated by a contract will increase from 56% to 68% on average over the next two years.

·         One of the major challenges reported by 68% of survey respondents is the disconnect between the various processes on the sell-side, i.e., the quote-to-cash cycle. This includes things such as pricing, proposal creation, negotiation, contract management as well as order management and invoicing.

·         Aberdeen research shows that, on average, revenue leakage amounts to 9% of an enterprise’s revenues.

·         18% of an enterprise’s sales cycle is attributed to contract creation, negotiation and approval. It is also reported that for many enterprises a one-day reduction in the sales cycle is worth a significant amount.

·         Best in Class enterprises have a higher percentage (82% vs. 33%) of contracts stored in an electronic/searchable repository with approximately 17% of contracts having on standard language compared to the 35% at all other enterprises.

·         When asked about the importance of contract management in the entire quote-to-cash cycle, over 50% said that it is essential, making it clear that this is a critical component of managing customers and revenue

The demand for contract management software is increasing rapidly and Upside Software is one of the only profitable pure-play providers in the market. Vishal Patel of the Aberdeen Group states, “Upside continues to gain traction in various industries with an impressive list of customers, including 3M, NCR, HP, John Deere, JC Penny, Anheuser-Busch and others. Over the last five years, Upside has shown significant growth in both revenue and profit, which have grown by over 400%. In total, Upside Software has about 200 customers with approximately 500,000 users managing well over $500 billion in contracts.”

To download a complimentary copy of the report, please visit this link below: http://www.aberdeen.com/link/sponsor.asp?spid=30410023&cid=3715 

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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