TILBURG, The Netherlands and EDMONTON, Alberta, Canada, Nov. 27, 2002 (PRIMEZONE) -- Interpolis Verzekeringen NV and Upside Software Inc., an integrated enterprise solution provider, announced today the signing of an agreement between the two companies for Interpolis' purchase and deployment of Upside Software's enterprise contract management eBusiness product -- UpsideContract.
UpsideContract streamlines the contract management process beginning with the issuing of RFX (e.g. RFP - Request For Proposals), contract creation, negotiation and awarding through to on-going monitoring and performance tracking as well as contract renewals and amendments. The software can help organizations streamline their operations and reduce related expenses by up to 80%. The demand for contract management software is growing steadily. According to Gartner Group, the market for contract management software and services will hit $20 billion US by 2007. As organizations understand the incredible return on investment (ROI) opportunities resulting in contract management software implementations, the software popularity will increase even more.
"The selection of Upside Software's Contract Management module by Interpolis is a great win for us. We are looking forward to working with Interpolis and setting a new standard in the Insurance industry worldwide with best practices in Contract Management," said Upside Software CEO, Ashif Mawji. "We are proud to have been selected by Interpolis to help with streamlining their contract management process. This is a great opportunity for us to continue our strategy in working with top-notch companies worldwide, and in this case, Europe."
"We are confident that we have chosen the right solution for managing our purchasing related contracts," said Marco Sichtars, Manager Corporate Procurement from Interpolis.
Sichtars continued to say, "By using UpsideContract we can improve the contract compliance within Interpolis and thus save a lot of time, energy and money. We foresee a drastic decrease in the total time for contract creation. The fact that UpsideContract is completely based on Microsoft software, especially `.Net,' is important for us. The same goes for the fact that integration with our BackOffice (ERP) systems is very easy."
The project started in mid-November and the go-live date has been set for the first of February 2003. This includes the integration with the BackOffice system and an integration with Interpolis's Enterprise Document Management system.
About Interpolis
Interpolis is one of the largest and most innovative insurance companies in The Netherlands. Interpolis provides customised solutions to private persons and businesses for a wide variety of risks. This not only has to do with solid insurance policies but also involves good, personalised advice and real support in the event of a loss. If you report your claim directly to Interpolis you can count on a quick, smooth settlement with a minimum of formalities.
Interpolis is a modern insurer that is aware of its social responsibilities. Sponsoring, for example, is one of the ways in which we make a constructive contribution to the local community. The work climate for employees at Interpolis, too, is certainly modern. The Interpolis Office Concept, with its flexible places of work and highly sophisticated office technology, has attracted attention from all over the world. Interpolis is also a trend-setter in the field of teleworking.
The solutions Interpolis provides in the fields of life and non-life insurance, pensions and income provisions are easily accessible through all the Rabobank branches in The Netherlands, as well as through a large number of independent intermediaries. More information can be found on www.interpolis.com.
About Upside Software Inc.
Upside Software provides integrated enterprise solutions that help streamline financial and business operations for companies of any size. The company's Web-based solutions focus on electronic billing, contract management, expense claim management and time-based resource booking management and are based on Microsoft technologies. Through improved business processes and leveraged business intelligence, Upside Software's customers can reduce operating costs and improve customer and supplier relationships. The company's corporate and ASP implementations are delivered to customers within 40 days and provide a full return-on-investment (ROI) in less than one year. For more information about Upside Software and its suite of business solutions, visit the company's Web site at www.upsidesoft.com.