Strong continuous growth across the entire year: increase of +20% revenue
Strong growth of Backlog at €31m (+20%)
Without data, there is no artificial intelligence
Presenting ‘Aimie’, Sidetrade’s own artificial intelligence
Olivier Novasque, CEO of Sidetrade, said of the announcement:
“The year 2017 marks a turning point in the history of Sidetrade. In a matter of months, our grip of a clear strategic positioning has led us to move up to a new dimension and to fast become a major player in the field of artificial intelligence (AI). The AI market right now is abuzz with activity, and global market intelligence firm IDC anticipates $46B in global annual investment across the next three years, with 54% average annual growth. With our successive acquisitions of BrightTarget, Iko System and C-Radar, each of these companies that work with AI at the entry point of the customer life cycle and each one complemental to Sidetrade’s original business offering, we’ve made a huge technological leap forward into the customer relations market. It is one in which artificial intelligence will from here on now empower companies with a decisive market edge. I would like to thank the whole Sidetrade team for their energy and commitment during this fast and profound transformation period. They have strived and succeeded in achieving our convergence program with the three companies we acquired while simultaneously delivering exceptional performance and financial outcome. Our sales dynamic, which has held up quarter after quarter, and our first sales and technical successes in the AI arena – in every one of the countries where we have a presence – are clear proof of the relevance of our strategic plan AIM2020.”
| SIDETRADE GROUP (MILLION EUROS) |
2017 | 2016 | VARIATION (%) |
|---|---|---|---|
| CHIFFRE D’AFFAIRES | 21.6 | 18.1 | + 20% |
Strong continuous growth across the entire year: increase of +20% revenue
Sidetrade Group demonstrated in 2017 its continued strong growth dynamic with revenues in excess of +20% at €21.6m. This consistent performance, quarter after quarter, underlines the strategic relevance of investments made and makes evident the company’s ability to establish itself as a prime player in the realm of artificial intelligence for customer engagement.
Strong growth of Backlog at €31m (+20%)
The 2017 financial year witnessed the addition of prestigious new accounts to the supplier and subscriber base, among them Akka Technologies, Cafés Folliet, Cegos in France, Deloitte Belgium, Gefco across 15 further countries, Geodis (Slovakia, Czech Republic), Hearst Magazines UK, House of HR (Germany, Belgium, France, the Netherlands, Poland, Portugal, Romania, Switzerland), Inchcape Plc, Inmarsat, KPMG UK, Médiapost, Moreton Smith (UK), NHS, Saint Gobain Abrasives (Denmark, Hungary, Morocco, Norway, Poland, Czech Republic, Romania, Russia, Sweden, Turkey), Schratter Foods (US), Securitas France, Selco UK, Serecco UK and STEF across seven countries…
The period was also distinguished by the first commercial successes of the new ‘Sidetrade Growth’ offering, plus the signing of nine new projects during the second semester of 2017. This significant ramp-up supports the relevance of the group’s new positioning across the entire customer life cycle with companies in a breadth of industry sectors, including Croda International, Geodis UK, Groupe Leader, Maileva, Malvern PANalytical, Metamark, One Advanced and Würth. These companies are now drawing full benefit from the power of Sidetrade’s predictive algorithms to improve retention rates and generate new sales across their existing customer portfolios.
Recurring SaaS revenue derived from these multi-annual contracts guarantees excellent visibility across activity over medium term. For this reason, the SaaS backlog stood at 31 December 2017 at €31m, up by 20%. This confirmed income is as yet not included in the Group’s income statement or balance sheet at the close of 2017.
Without data, there is no artificial intelligence
Stemming from statistics and computer science, artificial intelligence autonomously explores what are often vast data sources to learn to anticipate events, enabling informed decision-making and automation of processes. Accessing representative and regularly updated data is vital for meaningful results.
Sidetrade is well placed to enable its artificial intelligence algorithms to understand, segment and predict company purchasing and payment behavior. Its Cloud platform processes daily the transaction information between 9.5 million companies and their suppliers, equal to around 270 million sales and finance undertakings over the last three years. Its web-crawling robots enrich this data with correlative data relevant to the activity of 23 million European companies derived from websites, social networks and online media sources.
Sidetrade’s artificial intelligence allows the making of relevant recommendations regarding the acquisition of new customers, business development, and improvement of retention rates with existing customers and acceleration of cash generation.
By dint of developing artificial intelligence solutions and perfected learning algorithms, Sidetrade has a significant technological edge and a unique competitive market advantage via its vast data reservoir.
Presenting ‘Aimie’, Sidetrade’s own artificial intelligence
Today, Sidetrade is presenting its own artificial intelligence ‘Aimie’ (Artificial Intelligence Mastering Intercompany Exchanges). Aimie is the virtual assistant that will dramatically enhance the abilities of marketing, sales and finance teams in their customer relations management.
Aimie has been made possible by Sidetrade’s Data Science teams using the exclusive data the group has at its disposal. With the increases in processing power and its access to millions of data points, Aimie is learning continuously, while gaining in experience and sophistication. Sidetrade’s Machine Learning algorithms are what underpin the momentous progress of this new form of artificial intelligence.
From here onwards, Aimie will enable companies to take full advantage of the pure power of artificial intelligence for customer relations, above all in the following areas:
- Acquisition: Instant simulation of product market appeal, identification of the best targets among millions of companies and efficient automation of sales prospecting
- Up-sell/Cross-sell: Prediction of customer purchasing intent, unearthing new sales opportunities and increased generation of additional sales
- Retention: Anticipation of customer churn, automatic outlining of the reasons behind attrition, and improvement of customer loyalty
- Financial relations: Prediction of payment behavior, automation of optimum dunning strategies and disputes resolution, and acceleration of cash generation across customer accounts
Sidetrade’s solutions are continuously proving that the use of artificial intelligence unleashes greater efficiency and productivity for teams by providing a logic model for recommendations. All users of course have the option to follow or pass over the suggestions Aimie proffers, which in turn, is continually self-learning from these results.
Aimie now means that Sidetrade Group is able to empower companies with artificial intelligence at the core of their customer relations, placing them in a position to increase sales and accelerate cash generation. In so doing, the company remains true to its core values of promoting a pragmatic vision of artificial intelligence, based on fast and measurable results.
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.
Significant rise in Revenue: + 21%
Increase in Net Results: +9%
A solid balance sheet
Successful achievement of Target25 plan
Launch of new AIM 2020 strategic plan
Remarkable First-Half Results (+21% Revenue, +9% NR)
Olivier Novasque, Sidetrade Founder and CEO, states:
“With over 20% growth in revenue and a 9% increase in net results, despite the consolidated losses which were the result of the recent start-up acquisitions, Sidetrade has achieved an extraordinary half-year that underlines the solidity of its business model. The performance validates the strategic direction of the Target25 plan we launched in 2013. In the wake of the success of Target25, we’re now underway with a new strategic plan, AIM 2020, with the goal of doubling our revenue by 2020. Our overriding ambition is to be the most compelling Artificial Intelligence software company for all companies operating in the customer relations management arena. By harnessing the millions of B2B data points in our Cloud with our solid and advanced grasp of Data Science, we’re already making it possible for Marketing, Sales and Financial departments to get the full benefit of our powerful predictive algorithms to growth sales and accelerate cash. Our aim is now to broaden the use of Artificial Intelligence and make it even more widely available to all companies as part of their day-to-day dealings and to enable them to forge ahead in their respective markets.”
| SIDETRADE GROUP (MILLION EUROS) |
1ST SEMESTER 2017 |
1ST SEMESTER 2016 |
VARIATION (%) |
|---|---|---|---|
| REVENUE | 10.8 | 8.9 | + 21% |
| OPERATING PROFIT | 1.1 | 1.1 | + 4% |
| NET RESULT | 1.0 | 0.9 | + 9% |
Following a solid start to the year, Sidetrade Group posted a strong Q2 2017. Sidetrade Group posted consolidated revenue of €10.8m in H1 2017, representing year-on-year growth of 21%. It is the most successful half-year recorded by the Group and the first time that first-half net sales has exceeded €10m.
The turnover period witnessed the addition of prestigious new accounts to the supplier and subscriber base, among them KPMG UK, STEF group-wide, House of HR (Germany, Belgium, France, the Netherlands, Poland, Portugal, Romania, Switzerland), Gefco across 15 further countries, Cegos France, Akka Technologies, Moreton Smith (UK), Schratter Foods (US), Inchcape Plc, Geodis (Slovakia, Czech Republic), Deloitte Belgium and Selco UK….
Increase in Net result: +9%
The Group posted Operating Profit of €1.1m in this half-year, representing a 4% increase on the Operating Profit recorded for the same period of the previous year. This Operating Profit is all the more significant given that it includes loss of €0.8m due to the acquisition of the companies BrightTarget and Iko System who were included in the Group’s scope of consolidation on 01/01/2017. Assuming a comparable scope of activity, Sidetrade Group would have recorded a REX record of €1.9m, equivalent to a stunning growth of +72%.
The Operating Profit takes into account a Research Tax Credit of €0.5m (versus €0.47m from H1 2016) and activation of €0.10m in capitalised R&D costs (identical to H1 2016).
Corporate tax is estimated at €0.14m as of 30 June 2017, versus €0.16m as of 30 June 2016. Finally, the Group’s Net Result stands at €1m, an increase of 9%.
A solid balance sheet
In spite of acquisitions, the Group’s balance sheet remained strong with debts limited to €0.45m and available cash of €5.2m.
For reference, the Group holds 90,000 shares valued at €5.4m as of 30 June 2017.
Successful achievement of Target25
Over the period of activity, Sidetrade Group has fulfilled all the strategic challenges set out in its Target25 framework.
In terms of its international scope, the structure of the Group has seen significant changes. The company is now present within three further geographical areas, with teams now on the ground in London, Dublin, Amsterdam and Birmingham. Staff numbers have increased from just under 100 in 2013 to 227 as of 30 June 2017, with more than 40% of the workforce based outside France. In terms of trade, the company has succeeded to become the leading market player in its field in England.
In order to boost international growth and to offer all its customers a global service, Sidetrade developed a pan-European platform in 2013 in Dublin. This now comprises over a multidisciplinary team of over 72 staff (customer service, technical support, human resources and marketing) that is also multilingual (German, English, Spanish, French, Italian, Dutch, Portuguese, Russian). This platform is a major asset that will buttress the Group’s international growth in the years ahead.
Since 2015, the company has made significant investment in a Data Science Lab, with computational processing power capacity for terabytes of B2B data, to enable it to predict company payment behavior through Machine Learning algorithms. Sidetrade Payment Intelligence (SPi) solution, launched in November 2016, currently offers a predictive payment score for more than 2.5 million European companies and enables each company to compare its performance in payment terms. The platform is now being used by 95% of Sidetrade customers and constitutes a wholly unique market solution for identifying new sources of cash across their customers.
Launch of new AIM 2020 Strategic Plan
Artificial Intelligence (AI): the next business frontier
All the conditions are in place right now for Artificial Intelligence to see an exponential rise across the next five years in the part it plays in our daily lives and in business use.
Machine Learning and Deep Learning techniques are becoming increasingly sophisticated with the development of cognitive science. The volume of viable data is also growing at an incredible rate and processing power is doubling every 18 months (Moore’s Law), driven by the progress of nanotechnology. Although the use of AI is still in its infancy, every company in every activity sector will be affected by the coming technological tsunami. The most recent report by McKinsey Global Institute (June 2017) details the sectorial impact of IA as follows:
- Distribution: 30% reduction in delivery times, 4 to 6% growth in sales
- Industry: 13% increase in EBIT linked to cost reductions (predictive maintenance and supply), 5 to 10% growth in sales (customer retention and cross-selling)
- Energy: 10 to 20% increase in EBIT due to greater efficiency in management of power demand and supply and closer targeting of relevant customer offerings
- Finance: customer services will become semi-automated with the introduction of chatbots, giving productivity gains of 25 to 40%
In summary, the use of AI to improve customer knowledge, revenue sources or cost reduction is no longer a choice but a strategic challenge for all companies wanting to remain viable.
Becoming the most complelling AI platform for B2B customer relations
By capitalizing on the millions of B2B data points in its own Cloud, its advance in Data Science and its capability to bring professional expertise to Marketing, Sales and Financial departments, Sidetrade Group aims to broaden the use of Artificial Intelligence right across the customer relationship arena. With the synergies that will follow with its software applications, Sidetrade Group will have three distinct yet complementary offerings:
- Customer Acquisition: to identify the best targets among the millions of companies and successfully automate sales prospecting through the use of Machine Learning algorithms of C-Radar and Iko System
- Customer Growth: to improve retention rates and unearth new customer-base sales opportunities thanks to the Artificial Intelligence of BrightTarget combined with transaction and financial data from the Sidetrade Cloud
- Customer Financials: to accelerate cash generation across customer accounts and reduce associated management costs thanks to the Sidetrade Payment Intelligence solution (predictive payment score) and the establishment of optimum recovery and dispute settlement strategies based on Sidetrade’s Machine Learning algorithms.
Today, Sidetrade Group has made an undeniable leap forward in allowing a company to verify in a matter of weeks the relevance of predictive algorithms within a given context and to begin to use AI to give concrete and palpable benefit.
With the framework of its AIM2020 plan, Sidetrade Group has set itself the goal of becoming the strategic partner of major companies to enable them to leverage AI within the context of daily customer management. Remaining true to its values, the company’s ai mis to promote a pragmatic vision of Artificial Intelligence based on measurable results, be this in sales growth or cash acceleration.
The AIM2020 plan is expected to permit Sidetrade Group to double its revenue by 2020.
Significant rise in Revenue over 6-month period: +21%
Olivier Novasque, Founder and CEO of Sidetrade, states:
“This excellent first half-year revenue is the direct result of the impact of the investments we’ve made and is clear evidence of how well-placed is the Group’s strategic positioning within Artificial Intelligence. C-Radar is the third acquisition we’ve made in less than six months, giving us a strong technological head-start in our goal to position Sidetrade as a unique market player in the use of Artificial Intelligence dedicated to customer relationship. In the very near future, the best-performing companies will employ AI on a daily basis to boost sales and accelerate cash-flow generation. We’ll soon democratize the use of AI for all Marketing, Sales and Finance departments.”
The Board is confident of its ability to achieve further growth across 2017.
| SIDETRADE GROUP REVENUE* (MILLION EUROS) |
2017 | 2016 | VARIATION |
|---|---|---|---|
| Q1 REVENUE | 5.2 | 4.3 | + 21% |
| Q2 REVENUE | 5.6 | 4.7 | + 20% |
| H1 REVENUE | 10.8 | 8.9 | + 21% |
In line with the significant growth seen across recent quarters, Sidetrade Group has achieved a dynamic second quarter 2017, with an 8% sequential growth on first-quarter results.
Across the first six months of 2017, Sidetrade Group recorded consolidated revenue of €10.8m, a 21% increase on the same period in 2016. It represents the highest first half-year figures ever recorded by the Group and a record first-half turnover in excess of €10m.
The turnover period witnessed the addition of prestigious new accounts to the supplier and subscriber base, among them KPMG UK, STEF group-wide, House of HR (Germany, Belgium, France, the Netherlands, Poland, Portugal, Romania, Switzerland), GEFCO across 15 further countries, Cegos France, Akka Technologies, Moreton Smith (UK), Schratter Foods (US), Inchcape Plc, Geodis (Slovakia, Czech Republic), Deloitte Belgium and Selco Business Warehouse…
“We’ll soon democratize the use of AI […]”
In June 2017, Sidetrade Group announced the final acquisition of C-Radar, the French specialist start-up in B2B Predictive Marketing. By exploiting algorithm-driven analysis of 23 million company data signals daily, C-Radar allows Marketing and Sales Departments to better understand their markets and identify relevant leads. The acquisition came a few months in the wake of Sidetrade’s acquisition of BrightTarget and Iko System, two specialist start-ups in Sales and Predictive Marketing, further strengthening Sidetrade’s positioning within Artificial Intelligence for the client-sales cycle.
Sidetrade (Euronext Growth: ALBFR.PA), dedicated Artificial Intelligence customer engagement platform, announces their semi-annual liquidity contract report.
Under the liquidity contract entrusted to Gilbert Dupont, brokerage firm, by the Sidetrade Group, the assets shown in the liquidity account at June 30, 2017 were:
- Number of shares: 3,065
- Cash balance of the liquidity account: 195,227.8 €
It should be noted that, in the annual balance sheet of 31 December 2016 (see press release of 17 January 2017), the assets shown in the liquidity account were:
- Number of shares: 3,415
- Cash balance of the liquidity account: 204,433.48 €
Highly-accelerated revenue growth: +21%
| REVENUE* (IN € MILLIONS) SIDETRADE GROUP |
2017 | 2016 | VARIATION |
|---|---|---|---|
| Q1 REVENUE | 5.2 | 4.3 | +21% |
For the first time in its history, Sidetrade has surpassed the €5 million mark in quarterly revenue.
During the first quarter of 2017, Sidetrade Group’s consolidated revenue showed a 21% growth compared to the first quarter of 2016, which had already grown by 14%.
This accelerated growth was made possible by continued investment in sales and marketing coupled with the launch of the predictive software Sidetrade Payment Intelligence (SPi).
This momentum is all the more encouraging, as it currently receives marginal contributions from the BrightTarget and Iko System solutions, which are in the business integration phase at Sidetrade Group.
Prestigious new accounts in this quarter include KPMG UK, STEF for the entire group, House of HR (Germany, Belgium, France, The Netherlands, Poland, Portugal, Romania, Switzerland), Gefco across 15 new countries, and Cegos in France…
Olivier Novasque, SIDETRADE Founder and CEO, states:
“2017 has begun on an excellent footing. This first quarter’s performance is, first and foremost, a result of very good strategy execution. The work in strengthening our salesforce, accelerating global development and innovating with predictive solutions over the last three years has proven effective. Our priority now is to create the first Artificial Intelligence platform that covers the entire customer cycle. This is a unique offering that allows companies to develop sales and speed up their cash flow.”
Further year of strong growth recorded: 13% increase in revenue
Backlog growth at 31 December 2016: +24%
Strong growth in operating profit: +20%
Artificial Intelligence: a revolution for businesses
Olivier Novasque, CEO and Founder of Sidetrade, states:
“Technological progress isn’t linear; it’s exponential. The software industry has taken 15 years to reach the Cloud era. It’s going to need less than five to reach the far more disruptive era of Artificial Intelligence. Today, the burning issue for businesses is the intelligent use of data to enable faster, easier creation of added value. The most successful companies have already begun experimenting with Artificial Intelligence to move their businesses forward through short, task-driven projects. With our unique customer engagement platform, Sidetrade’s now able to put Artificial Intelligence at the heart of company customer relations to both increase sales and boost cash flow.”
| CONSOLIDATED FINANCIAL STATEMENTS* (MILLION EUROS) SIDETRADE GROUP |
2016 | 2015 | VARIATION (%) |
|---|---|---|---|
| REVENUES | 18.1 | 16.0 | + 13% |
| OPERATING PROFIT | 2.1 | 1.7 | + 20% |
| PRE-TAX INCOME | 2.0 | 1.7 | + 19% |
| NET-PROFIT | 1.8 | 1.6 | + 8% |
Across activity in 2016, Sidetrade Group achieved a turnover of €18.1 million, with wholly organic growth of 13% and robust international demand. This consistent and continuous performance, across successive quarters, reaffirms the success of its innovative product offering and demonstrates its ability to consolidate its position as market leader.
Backlog Growth at 31 December 2016: +24%
The year witnessed the addition of prestigious new accounts to the subscriber base, among them: NHS Property (UK), Deloitte (Belgium), Carrefour Property, Docapost (La Poste Group), Intersport, PageGroup (Germany, Austria, Spain, France, Italy, Switzerland), Saint Gobain Abrasifs (21 countries), Talend (Germany, US, France, UK), Univar (Greece, Italy, Turkey), Equiniti Group Plc, Hearst Magazines, Idex, Samworth Brothers Ltd, Strego, Securitas AB (Norway), Viséo, Renold US, Valor Hospitality…
Recurring revenue generated by SaaS resulting from these multi-year contracts ensures excellent visibility of medium-term income. Accordingly, the SaaS backlog at 31 December 2016 stood at €26 million, representing a 24% growth. This committed unrecognized income is not included in the Group income statement or balance sheet at end-2016.
Sharp rise in operating profit: +20%
Notwithstanding significant investments made both in France and the international arena, operating profit recorded strong growth, achieving €2.1m in 2016, against €1.7m in 2015: an increase of 20%.
Sidetrade pursued its strong investment growth strategy with the development of a Data Science Lab (€0.6m) and the strengthening of its Sales and Marketing teams (€0.8m).
As of 31 December 2016, the number of Group employees stood at 208 (versus 163 at 31 December 2015), of whom 40% are based abroad.
Net Income 2016 stands at €1.8m, up by 8%, following tax deductions of €0.24m, compared to €0.05m in 2015.
Notwithstanding acquisition of start-ups BrightTarget and Iko System at end 2016, Sidetrade Group maintains a solid financial structure, with debts held to €0.3m, cash flow recorded at €7.2m and 80,000 Treasury shares.
Artificial Intelligence, a revolution for businesses
The improvement in results seen in the last three years justify the relevance of the Target25 strategic plan, which aims to achieve 20-25% growth by end 2017. Target25 is now in its final year of implementation.
The Board of Directors is fully confident of its ability to deliver strong growth across 2017 activity.
In 2017, Sidetrade Group’s results will be underpinned by investments made in Sales and Marketing, Sidetrade Payment Intelligence (SPi) solution and the broadening of its offer across the entire customer cycle, following its acquisition of BrightTarget and Iko System.
A further year of double-digit growth: +13% revenue
Backlog growth at 31 December 2016: + 24%
Reinforcement within the Artificial Intelligence field with a unique positioning
Olivier Novasque, CEO and Founder of Sidetrade, states:
“For the first time, with the use of the Sidetrade Payment Intelligence solution, companies can avail themselves of a predictive payment score for their customers and can assess their performance margins using a data-driven approach. Already in use by almost all our clients, this Artificial Intelligence platform will enable us to accelerate our conquest of the market. This trend will be strongly reinforced across 2017 with the input of the BrightTarget and Iko System solutions, which will open up further growth opportunities for the Group. The synergy between the three offerings will allow us to democratize the use of Artificial Intelligence across the entire customer relationship cycle and to set Sidetrade apart as unique on the market.”
| CONSOLIDATED FINANCIAL STATEMENTS* SIDETRADE GROUP (MILLION EUROS) |
2016 | 2015 | VARIATION (%) |
|---|---|---|---|
| ANNUAL REVENUES | 18.1 | 16.0 | + 13% |
Across activity in 2016, Sidetrade Group achieved a turnover of €18.1 million, with wholly organic growth of 13% and robust international demand. This consistent and continuous performance, across successive quarters, reaffirms the success of its innovative product offering and demonstrates its ability to consolidate its position as market leader.
Sidetrade has recorded its eighth consecutive quarter of double-digit growth.
Backlog growth at 31 December 2016: +24%
The year witnessed the addition of prestigious new accounts to the subscriber base, among them: NHS Property (UK), Deloitte (Belgium), Carrefour Property, Docapost (La Poste Group), Intersport, PageGroup (Germany, Austria, Spain, France, Italy, Switzerland), Saint Gobain Abrasifs (21 countries), Talend (German, US, France, UK), Univar (Greece, Italy, Turkey), Equiniti Group Plc, Hearst Magazines, Idex, Samworth Brothers Ltd, Strego, Securitas AB (Norway), Viséo, Renold US, Valor Hospitality…
Recurring revenue generated by SaaS resulting from these multi-year contracts ensures excellent visibility of medium-term income. Accordingly, the SaaS backlog at 31 December 2016 stood at €26 million, representing a 24% growth. This committed unrecognized income is not included in the Group income statement or balance sheet at end-2016.
Reinforcement within the Artificial Intelligence field with a unique positioning
In line with the announced timetable, the predictive analytics customer behavior payment software platform, Sidetrade Payment Intelligence (SPi) solution, was successfully launched on 8 November 2016. Within two months, 95% of Sidetrade clients had begun deploying Sidetrade Payment Intelligence solution to improve their performance relating to payment delays, and anticipation of customer behavior, through a predictive payment score across 2.2 million companies.
2016 activity saw a strengthening of Sidetrade’s strategic position across the entire customer life cycle via the acquisition of start-ups BrightTarget and Iko System, both specialists in the field of Artificial Intelligence. Sidetrade has now moved beyond its original focus of client relation financial management to extend its offering across the entire Sales-to-Cash cycle to place Artificial Intelligence solutions at the disposition of companies’ Sales and Marketing departments.