Upside Software Inc. the leading provider of Contract Lifecycle Management (CLM) software and Intrasphere Technologies Inc. a premier Life Science focused technology consulting firm today announced an Alliance that combines the expertise of the two industry leaders to address the difficult and evolving challenges in the Life Sciences market.
Upside Software Inc. the leading provider of Contract Lifecycle Management (CLM) software today announced an Alliance with Intrasphere Technologies Inc. a premier technology consulting firm that combines the expertise of the two industry leaders to address the difficult and evolving challenges in the Life Sciences market.
“Business today is challenged by the complexity and sheer volume of corporate contracts, which creates tremendous challenge managing and tracking hundreds of agreements. In particular, Pharmaceutical companies pay a substantial percentage of revenues in rebates to managed care organizations, group purchasing organizations and drug wholesalers. This Alliance will help the Life Sciences Industry optimize and benefit from the critical capability of Contract Lifecycle Management software.” said Ashif Mawji, Chief Executive Officer of Upside Software Inc.
Under political, economic and regulatory pressures, the Life Sciences Industry is facing significant challenges, including: compliance with the Sarbanes-Oxley Act; more stringent FDA quality requirements; market share battles; managing information privacy; and downward pricing pressure. These business drivers point towards a critical need to make business easier for trading partners to close new sales and licensing deals faster; ensure compliance; improve visibility into the returns of sales and IP-related agreements; and maximize revenue from existing products and relationships.
“Upside’s products and vision combined with proven delivery best practices and Life Science expertise from Intrasphere will help our Clients bridge the gap that limits Life Sciences companies ability to succeed,” said Bill Karl, Chief Executive Officer of Intrasphere Technologies Inc. “With contract Sales making up over 50% of total Life Sciences revenues, CLM software can make significant impact on revenues and contribute profit by augmenting the traditional revenue management activities focused on rebates, chargebacks and administrative fees.”
About Upside Software Inc.
Upside Software is the worldwide leader in Contract Lifecycle Management (CLM) solutions (also known as Commitment Management or Contract Management software). 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/
For more information, contact:
Media Relations, Upside Software Inc.
Tel: (780) 702-1432
Fax: (780) 702-1438
About Intrasphere Technologies Inc.
Intrasphere Technologies, with offices in New York, London and India, is a premier technology consulting firm with a core focus on Life Sciences. Intrasphere provides end-to-end technology services, including strategy consulting, custom application development, implementation and integration of third-party applications and production support. The company has successfully implemented large-scale projects for some of the world’s leading global companies, including Pfizer Inc. (NYSE:PFE), Schering-Plough Corporation (NYSE: SGP), Novartis (NYSE: NVS) and Eli Lilly (NYSE: LLY), among others. For more information visit http://www.intrasphere.com.
For further information, contact:
Samuel Goldman
Intrasphere Technologies
212-937-8211
