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Upside Software is known for being versatile and adaptable to virtually all industries. Organizations of all types and sizes can leverage on UpsideLive
and UpsideLive LITE’s flexibility to keep track of key information needed to meet industry regulations and conduct business. Check out how UpsideLive
/ UpsideLive LITE can provide tangible benefits to the following industries:
Financial & Services
Some common obstacles in the Finance industry include consolidation and deregulation, shifting customer demands, and a stronger emphasis on compliance and performance. UpsideLive
/ UpsideLive LITE can help you to:
- Mitigate risk while achieving a full ROI in one year.
- Ensure stakeholders have adequate visibility into financial dealings within the company to comply with SOX requirements.
Health Care & Pharmaceuticals
Medical professionals encounter various complications including tighter budgets, staffing shortages, a plethora of paperwork, managing dynamic relationships with municipalities and communicating with often sparse and geographically-isolated staff members. To aid medical professionals,
UpsideLive / UpsideLive LITE can help meet compliance requirements for HIPAA:
According to HIPAA (The Health Insurance Portability & Accountability Act of 1996), health care professionals must protect patients’ confidential personal information while at the same time being able to edit/update records, easily retrieve patient information when requested and justify why certain information was shared. As well, service providers who engage in electronic business practices must adhere to the same health care transactions, code sets, and identifiers.
- UpsideLive / UpsideLive LITE ensure your organization follows the 10 standard transactions for Electronic Data Interchange (EDI) for communicating health-related information such as claim status and inquiry, payment and remittance advice, etc. Performance metrics and compliance items can be attached to each contract and document in UpsideLive helping you keep track of the 10 standard transactions and the 4000 categories in which items can be billed. User Defined Fields (UDFs) help to capture customizable data fields.
- Users can create automatic notifications that tie into each individual entity in UpsideLive to remind themselves of upcoming events. For example, medical professionals must create notices of their privacy practices and send a reminder to every patient/enrollee at least once every 3 years about their right to request this notice.
- Track key information related to supplier contracts, physician agreements, real estate documents, insurance agreements and others.
- Keep track of health care transactions, code sets, and identifiers and other information pertinent to HIPAA
and Stark.
Retail/Consumer
Companies in this sector must continually strive to improve their product and service offerings while facing fierce competition and increasing consumer demands. In addition, ensuring your practices are in compliance with contract terms and performance metrics can be particularly challenging. UpsideLive can help:
- Centrally manage terms and conditions across geographically dispersed retail partners.
- Comply with international trade agreements (e.g. NAFTA, EU, etc.).
Transportation/Logistics
A few widespread hindrances in this sector include juggling multiple sub-contractor relationships, handling a considerable amount of paperwork and meeting industry requirements to procure services/goods from minority suppliers.
One of the ways UpsideLive / UpsideLive LITE can benefit your company includes improved
insurance management:
- Track quality assurance through performance monitoring functionality.
- Keep on top of shipment status for multiple agreements.
- Minimize risks due to lack of insurance coverage or an expired service agreement.
Manufacturing
Manufacturing companies deal with large overhead in managing trades and related sub-contractors, staffing cutbacks, intense competition and handling increasing customer demands. UpsideLive
/ UpsideLive LITE can help by:
- Centralized control of supplier and sales contracts.
- Streamline contract process while formalizing the managing of supplier delivery commitments and customer commitments.
- Meet the compliance requirements of the Sarbanes-Oxley Act
Public Sector/Publicly traded companies
Some common barriers that need to be overcome include demanding intergovernmental/interdepartmental relationships with municipalities, provinces/states and foreign entities, pressure from stakeholders to eliminate deficit, etc. Let UpsideLive help by:
- Enforcing SOX compliance. Reduce operational costs by having invoices checked for variances, validate accuracy, compliance tested, routed for appropriate approval and charged to the correct costs centers for payment processing – No data entry required.
- Improve invoice process time through UpsideBilling.
- Provides savings for suppliers who handle costs through electronic billing.
Education
Those in the educational sector often face increasing staff shortages, escalating pressure to improve sourcing and procurement effectiveness all while managing interdepartmental and governmental relationships. Some of the benefits of UpsideLive
/ UpsideLive LITE include:
- Improve contract and purchasing visibility and compliance.
- Reduce clerical resources.
- Reduce cycle times.
- Reduce physical document storage needs.
High-Tech/Telecommunications
The dynamic and fast-paced technology industry must ensure that intellectual property is protected and track ever-changing pricing discounts and complex formulas. UpsideLive
/ UpsideLive LITE can provide a much needed competitive edge by:
- Manage all types of contracts (i.e. commercial, wholesale, and carrier agreement contracts, etc.)
- Validate Invoices against contract details.
Media/Entertainment
With consolidation, globalization and deregulation on the agenda, companies in this sector must deal with constantly shifting consumer demands and interests, and cutbacks in order to remain competitive. To help you thrive in this industry, UpsideLive
/ UpsideLive LITE can help you:
- Monitor contract obligations for Intellectual Property agreements and
licenses or other sales and marketing agreements.
- Improve visibility through multiple geographies.
Oil, Gas & Utilities
Companies in this sector must deal with constant market fluctuations, joint venture agreements which require vigilant monitoring, and more. UpsideLive
/ UpsideLive LITE can help:
- Manage permits and appropriate licenses associated with contracts
- Identify, evaluate, track and manage risk events, drivers and impacts.
- Manage joint venture agreements.
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