Seventh consecutive quarter of double-digit revenue growth: +14%
8th November launch of the the first predictive analytics solution for BtoB Trade Credit: SPi (Sidetrade Payment Intelligence)
Strong first-half growth confirmed in the 3rd quarter (+14%)
REVENUE* (IN MILLION EUROS)
|Q1 REVENUE||4.3||3.8||+ 14%|
|Q2 REVENUE||4.7||4.1||+ 14%|
|Q3 REVENUE||4.5||3.9||+ 14%|
|FIRST 9 MONTHS ENDED 30 SEPTEMBER 2016||13.4||11.8||+ 14%|
*The 2016 data is consolidated and unaudited.
In the third quarter of 2016, Sidetrade Group generated consolidated revenue of €4.5 million, an increase of 14% compared to the third quarter of 2015.
Sidetrade Group has posted seven consecutive quarters of double-digit growth. Revenue growth in the first nine months of 2016 stands at +14%.
Prestigious new accounts and new deployments in this quarter include Equiniti Group Plc, Hearts Magazines, Idex, Samworth Brothers Ltd, Strego, Securitas AB, Viséo, AD Industries, CJ Upton & Sons Ltd, Geodis Poland, Renold US, Valor Hospitality and Vulcain Expansion.
Sidetrade Payment Intelligence applied to BtoB trade credit
On 8 November, Sidetrade will launch their “Sidetrade Payment Intelligence” solution, the first predictive score of customer payment behaviours. This financial indicator is unique in Europe, and will be available on all of Sidetrade’s Cloud platforms. Sidetrade has the capacity to deliver a predictive payment score for over 2.2 million businesses worldwide to date, representing a unique advance in the field of BtoB trade credit.
Olivier Novasque, CEO of Sidetrade, said:
“In the era where companies are experiencing digital transformation and with the increasing presence of artificial intelligence in all of our everyday lives, customer intelligence is becoming a major imperative. With Sidetrade Payment Intelligence, our clients will be able to view their customers’ payment behaviours within the market, and will be better informed than their competitors. This predictive solution will enable companies to strengthen the collaboration between finance and sales, and to identify unexpected sources of cash flow.”
Management confirms that 2016 will be a further year of growth.