First evidence of commercial success of Artificial Intelligence
Strong growth across Q3: 20% turnover increase, fully consistent with H1 performance
| SIDETRADE GROUP REVENUE* (IN MILLION EUROS) |
2017 | 2016 | VARIATION (%) |
|---|---|---|---|
| Q1 REVENUE | 5.2 | 4.3 | + 21% |
| Q2 REVENUE | 5.6 | 4.7 | + 20% |
| Q3 REVENUE | 5.4 | 4.5 | + 20% |
| FIRST 9 MONTHS | 16.1 | 13.4 | + 20% |
In the third quarter of 2017, Sidetrade Group continued to demonstrate the upward trend seen over previous quarters and generated a consolidated revenue of €5.4 million, an increase of 20% compared to the third quarter of 2016.
Significantly this quarter, Sidetrade Group signed up five new Artificial Intelligence projects via its new Customer Growth offering. This achievement is fully in context with the relevance of the new offering among international companies in a wide range of sectors. These included Groupe Leader, Maileva, Malvern PANalytical, Metamark and VideoJet Technologies. These companies now benefit from the power of Sidetrade’s predictive algorithms to improve their churn rate and develop upsell to their existing customers.
On top of this, many other prestigious new accounts have been acquired within the company’s service base. These include Inmarsat, Securitas France, Selco UK, Geodis Slovakia, Aubert & Duval Eramet, Hearst Magazines UK, Saint Gobain Abrasives (Denmark, Hungary, Morocco, Norway, Poland, Czech Republic, Romania, Russia, Sweden, Turkey), NHS, KPMG, STEF and Akka Technologies…
The Management Board is confident that 2017 will be a further year of strong growth.
Olivier Novasque, CEO of Sidetrade, said of the results:
The very strong growth we’ve experienced this third quarter of 2017 maintains the upward trend demonstrated since the beginning of the year. The dynamism of performance is further evidence of the historic character of this financial year, both in terms of its potential for growth and our ability to position Sidetrade as the leading Artificial Intelligence player to specialize in the entire customer cycle. These first commercial successes, via our new ‘Customer Growth’ offering which focuses on the use of AI to increase company revenue, are proof of this. Now, more than ever, our overriding ambition is to make the day-to-day use of predictive algorithms widely available to all companies. The results of this third quarter herald precisely the performance we expect to achieve via our new strategic plan AIM2020.
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