In its drive to provide businesses with digital technology to revolutionise their order-to-cash processes, AI leader Sidetrade has appointed Rob Harvey as its new chief product officer and a member of the firm’s executive committee (ExCom).

Commenting on his appointment, Mr. Harvey said:
I am thrilled to join such a talented product team dedicated to staying ahead of the curve and providing added value to our customers. This means investing in the latest AI technology, and delivering customer-centred solutions that are connected, collaborative, and configurable”.

Mr Harvey, also known as Bobby to his colleagues, will oversee Sidetrade’s product lifecycle, from strategy and development, through to launch. He will work hand-in-hand with Sidetrade’s chief technology officer Mark Sheldon to align development and business teams on innovative products which businesses need to prosper in today’s world.

Olivier Novasque, founder and CEO of Sidetrade, said:
Bobby understands customer expectations like no one else! He brings boundless creativity and immense business expertise to everything he does for Sidetrade. We’re delighted to have him on the ExCom”.

Mr. Harvey has worked at Sidetrade since 2012 in a number of leadership roles, most recently as global head of sales operations. Initially appointed as a customer success and presales consultant for the UK, he became head of presales in 2015, building teams in France, the UK, and the Netherlands. In 2018, he was appointed head of sales operations & enablement, extending his role to full sales support. Mr. Harvey has over 22 years’ experience in order-to-cash. Before joining Sidetrade, he held senior positions at Accenture, Verizon, and Orange Business Services.

The announcement follows a Q2 of record growth for Sidetrade. Mr. Harvey said:
Q2 was an incredible quarter for us, the best in Sidetrade’s history. This performance is even more rewarding as it was achieved in an unprecedented economic crisis, where most companies are in recession.”

PARIS, France – 21 July 2020 | Sidetrade (Euronext Growth: ALBFR.PA), the
Artificial Intelligence platform dedicated to accelerating company revenue and
cashflow, reports a record-breaking second quarter, with remarkable growth in
revenue and orders despite the severity of the Covid crisis.

 

Olivier Novasque, CEO of Sidetrade, had this to say about Q2 2020 achievements:
Income and bookings achieved an unparalleled level this second quarter despite the overall state of
the economy. Even with all of our staff teleworking, we still achieved the best quarter of our history in
terms of sales, with €6.1m in new contracts signed. This performance is the fruit of years of work on
innovation, especially AI. Additionally, Sidetrade’s position perfectly meets the needs of today’s
businesses striving to boost and secure cashflow in an increasingly digital world. Current market
dynamics are actually strengthening our leadership position at home and abroad. I would once again
like to thank our teams for meeting the present challenges with creativity and dedication. I also want
to thank our customers for their continuing trust during difficult times.
Record €7.5m revenue growth demonstrates the resilience of the SaaS model
Sidetrade (million euros)

Revenue

2020 Q2

7.5

2019 Q2

6.6

Variation

+15%

Following up on an excellent first quarter (+14%), Sidetrade kept-up the momentum, achieving 15% organic growth compared to Q2 2019 (€6.6m). Sidetrade’s Q2 2020 revenue was €7.5m, the highest in their history. Thanks to their SaaS business model, Sidetrade is weathering the crisis well. More than ever, the resilience of the company’s recurrent SaaS model allows them to stand strong. In fact, 89% of Sidetrade’s quarterly revenues are recurrent, one of the highest ratios in the software industry.
Record €6.1m bookings in Q2 2020
The Covid crisis has brought to light just how crucial it is to secure cashflow, which has been good for Sidetrade’s sales. In Q2 2020, Sidetrade demonstrated their capacity for adaptation and innovation by tracking the impact of the Covid pandemic on unpaid invoices. The freely accessible tracker showed changes in the payment behaviour of 3.7m businesses since the start of the year in the United Kingdom, France, Spain, Italy, Belgium and the
Netherlands.