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, Fichet Group, 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.