Sidetrade (Euronext: ALBFR.PA), the leading global provider of Predictive Sales-to-Cash solutions, announces the final acquisition of British start-up, BrightTarget Ltd, specialist in Artificial Intelligence solutions for B2B Sales & Marketing.
Glen Westlake, CEO, and Mark Sheldon, CTO, established BrightTarget in 2014 in Birmingham. Todd Burkowitz of Gartner, the world’s leading information technology research and advisory company, named BrightTarget among Europe’s top three most innovative European start-ups in the Market Guide for SaaS Based Predictive Analytics Applications for B2B Sales and Marketing 2016 study.
The acquisition is fully in line with Sidetrade’s strategy to enhance business performance via the Sales-to-Cash cycle. BrightTarget has developed powerful Machine Learning algorithms based on the analysis of historic transactions (invoices) and customer behavior incorporating underlying data (sector, geographic area, size) enriched with millions of other points of insight (press articles, social media engagement, corporate websites). BrightTarget’s solution allows companies to:
- Define the Predictive Customer Lifetime Value calculated on the basis of the forecast of the net profit that is expected to occur from the future relationship between a business and a customer
- Identify those clients most likely to be lost by a company to significantly improve retention rates
- Score the best business opportunities on a company’s existing client base (Upsell/Cross-sell) to focus sales teams with better targets for customers with strongest potential
- Generate a list of high-quality leads with strong conversion potential related to their Predictive Customer Lifetime Value