Sidetrade

2019 Annual Revenue up 17%, like for like, new ARR up a record 88% - Seite 2

New booked Annual Recurring Revenue up a record 88%

In 2019, the booked Annual Recurring Revenue (ARR) from new customers shot up 88%, hitting a record level of €4.8m in new annual subscriptions, vs. €2.6m in 2018. This gives good visibility of Sidetrade’s revenue growth in 2020 and beyond. In fact, mean initial contract period for these new customers is 41.1 months.

Key account ARR performance was even more spectacular, reaching a record of €4.2m in annual subscriptions, vs. €2m in 2018, up 113%. This record stemmed largely from the core Financials AI business, with a whopping 295% rise to €3.8m in new ARR, vs. €1m in 2018. Many prestigious new customers signed up with Sidetrade in 2019, boosting strength in its main sales territories:

• France: Groupe BPCE, Solocal Group, Edenred, Point Fort Fichet, Cham (Groupe EDF), Colissimo (Groupe La Poste), AB Tasty, Europcar Mobility Group, Saint-Gobain ADFORS, Chubb France, Factum Finance, Groupe UP, Fidal, Trescal, Orange Business Services, ITWP, Kersia
• UK: Euro Car Parts, GFK Europe, Frank Recruitment Group, Customade Group, Rexel UK, Chubb UK, Premier Paper
• Benelux : ENGIE Fabricom
• USA: Saverglass, Hearst Magazines, Videojet Technologies Inc., Inchcape, Equiniti Services, TechData

Three factors explain this outstanding growth: 1) The capacity of Aimie, Sidetrade’s AI platform, to augment dramatically operational performance; 2) Market dynamics demanding new ways of boosting productivity; and 3) Sidetrade’s high sales efficiency.

• Aimie, the new digital assistant that augments operational performance

Today, more and more businesses are turning to Artificial Intelligence, because of its capacity to handle huge amounts of customer data so effectively, resulting in lower processing costs and better customer relations. For Finance, cutting-edge machine learning can process massive volumes of invoices, and customize the order-to-cash process based on AI analysis of customer payment behavior.

Since 2017, Aimie has been learning from Sidetrade’s exclusive cloud containing over 300 million payment experiences (transactions worth €953bn), and continuously improving. Aimie’s cash collection recommendations have proven 53% more effective than human decisions alone. In addition, Aimie has cut wasted actions (those not resulting in payment) by 51%, freeing up operational staff for value-added tasks.