Artificial Intelligence vendor, Sidetrade has secured two finalist spots in the Credit & Collections Technology Awards 2019.
Sidetrade won a place in the Machine Learning in Credit Collections Solution category, and the Technology Team of the Year category. Winners will be announced at a black-tie awards dinner on 12th September, in Newcastle.
Commenting on the news, Rob Harvey, Sidetrade’s Director of Global Solutions said,
We’re all really pleased with the nominations, especially as they encompass our product excellence in collections and ability to deliver real AI. We have a huge reservoir of receivables data coupled with 19 years expertise helping businesses drive cash and efficiency improvements in collections. And the tech team of the year nomination highlights our focus on company growth and technological innovation.”
Sidetrade launched Aimie for Finance, its Machine Learning enabled application for credit management, in September 2018 with five trailblazer enterprises, demonstrating the trust that some of Sidetrade’s key clients place in the company to deliver innovation and results.
The trailblazer group saw a 35 percent reduction in weighted average delay, 15 percent increase in customer communications which resulted in payment, and a 50 percent increase in team productivity.
The results and positive feedback demonstrated Sidetrade’s ability to deploy Machine Learning to improve cash collection, team productivity, and seamless customer communications.
Delayed payment is a significant issue in the world of business. The 2019 European Payment Report highlighted the prevalence of the challenge, while this year the UK government published its findings and recommendations to create a better payment culture for UK business, which senior Sidetrade staff commented on for the media.
Sidetrade has 1500 corporate clients in 80 countries, and wants to put Aimie for Finance into the hands of every finance team across the globe, so they can sharpen their financial performance.
Sidetrade’s Data Science Lab will take its place in the Technology Team of the Year category. Founded in 2013, the team was enriched with data scientists, product specialists and entrepreneurial staff when Sidetrade acquired three AI start-ups between 2016-17.
The Lab has over 20 specialist staff, with offices in Birmingham and Paris. The Lab drives Sidetrade’s R&D, and is research-active, securing government and EU funding for AI research which will benefit business and research communities across Europe and beyond.
The team also places strong emphasis on nurturing talent, with regular hackathons, mentoring, lectures at graduate schools, and an annual Coding Academy to recruit the best new talent among local school and university leavers in the UK.
Sidetrade would like to thank the award organizers and shortlisting panel for this recognition, and wishes good luck to all the shortlisted companies.