|Consolidated financial statements* (in € millions)|
Sidetrade Group ended 2015 with a very strong quarter, posting €4.2 million (up 15%), in keeping with the three previous quarters.
In full-year 2015, Sidetrade Group generated revenues of €16 million, with wholly organic growth of 14%. This performance, repeated quarter-on-quarter, reaffirms the success of its innovative offering and demonstrates its ability to build a leading market position.
Success of the Cloud: 46 million invoices processed (+25%)
In 2015, over 46 million invoices were processed in the Sidetrade Cloud, up 25% and representing in excess of €122 billion in inter-company flows.
Over the year, prestigious new accounts were added to the subscriber base including: XPO Logistics (formerly Norbert Dentressangle Logistique) for a pan-European roll-out in 9 countries, Transgourmet, QMH UK, Vocalcom, Riwal France, Bergerat Monnoyeur Belgium, Nutrisens, TF1 Publicité, Moët Hennessy, Louvre Hôtels, Sibelco, Talend and Univar with a roll-out in 24 countries.
Recurring income in the SaaS business resulting from these multi-year contracts ensure excellent visibility of medium-term income. Accordingly, the SaaS order book at 31 December 2015 stood at €21 million. This committed unrecognised income is not included in the group income statement or balance sheet at end-2015.
Positive effects of the Target25 Plan
Olivier Novasque, CEO and Chairman of Sidetrade Group, explains:
In line with the Target25 strategic plan, launched in 2013 and concluding at end-2017, we have profoundly altered the structure of Sidetrade Group. Over the past three years, we prioritised faster growth, the expansion of our international footprint and significantly increased our investment in innovation.
With revenues growing fast, at +14% over the year, we are benefiting from our sales and marketing efforts. 2015 marked a significant shift in our development following two years of slower growth (4.5% in 2013 and 4% in 2014). The relevance of our plan and its successful execution are clear to see.
Internationally, we now operate in four zones (France, UK, Ireland and Benelux). Our workforce rose from a little under 100 in early 2013 to 165 at end-2015, with over 40% based abroad. Our international expansion is a major positive for a SaaS publisher.
Finally, in terms of innovation, we will increase our R&D investment in the field of Big Data in 2016. With over 140 million payment experiences recorded in the Sidetrade Cloud over the past three years, representing in excess of €300 billion in inter-company flows, we will launch, in the second half of 2016, the first smart payment platform with a predictive payment score. This score, named SPi for ‘Sidetrade Payment Intelligence’, will cover over 2 million businesses in Europe. »This ground-breaking innovation, which is the result of research by our teams in the field of Data Science, will now enable all Sidetrade customers to build predictive cash flow generation models using a Big Data approach.
«In short, we will focus a large amount of our 2016 investments on our R&D while maintaining our sales investments. We are confident in our ability to generate sustained business growth in 2016 with a sharp foreseeable acceleration in 2017. In addition to being a Cloud Pure Player since its creation, Sidetrade is now positioned as a major pioneer in the field of corporate Predictive Financial Performance.