- Another year of double-digit growth, with revenue up 11% for 2018
- Huge success of Sales & Marketing AI solution take-off (up 46%)
- End of B2C Services in Q4 2018
Another year of double-digit growth, with revenue up 11% for 2018
Sidetrade’s 2018 revenue was €24.1m, up 11% against 2017. This double-digit growth proves the value of the 2018 roadmap. Olivier Novasque, Founder and CEO of Sidetrade, had this to say:
“Following our three acquisitions in 2017, we charted a new course aiming to put Artificial Intelligence solutions for the entire customer journey within the reach of every business. 2018 was an amazing year for us. Our Financials AI solution continued to do well, and our brand new Sales & Marketing AI solution was a huge success – with about €4m in revenue. This concretely shows that Sidetrade has moved into its next phase of development. In barely 18 months, we have created one of the most advanced B2B Sales & Marketing AI solutions in the world (by bringing together the technologies of the three start-ups we acquired) and converged all of our teams with the same business process and IT systems.
Most of all, we have been able to get our Sales & Marketing offer off the ground while keeping up the strong growth of our regular line of services. In 2018, Sales & Marketing AI actually accounted for over half of new contracts. The next step is to give even more clients access to Artificial Intelligence insights. AI is now the key to all our solutions, empowering operational teams to generate greater value for their companies. Clearly, we are at the dawning of a new era!”
SALES & MARKETING AI
|FINANCIALS AI||20.3||19.0||+ 7%|
Sidetrade has achieved technological maturity and high innovation capacity, earning five awards in 2018: Business Award France, in the FinTech category, awarded by the French Chamber of Commerce & Industry; Fast Growth Icons 2018; PwC Digital Champions; Forbes Futur40, and the 2018 Innovation Competition in the digital category
In 2018, Sidetrade was one of the rare Euronext Growth listed companies in the promising AI sector.
Huge success of Sales & Marketing AI solution launch (up 46%)
In 2018, Sidetrade undertook several decisive added-value projects, including its unique B2B AI platform covering the entire customer cycle, from prospecting to payment collection. Outstanding progress was achieved in two lines of business.
- Sales & Marketing AI revenue jumped to €3.8m, up 46%. This leap shows that Sidetrade has repositioned to meet the needs of a range of industries in different countries including: Transport (Heppner in France and Geodis in the UK); IT (Advanced Computer Solutions and Heraeus in the UK, Cision and Visiativ in France); Banking (Bpifrance); the Public sector (Ile-de-France region), Services (Viparis and Idex in France), Chemicals (Croda International in the UK), Industry (Eurocell and Malvern in the UK, Würth in Belgium). These organizations all use Sidetrade’s powerful predictive algorithms to identify new markets, develop additional sales, and improve retention rate.Our Sales & Marketing AI business has proven to be a driver of solid, sustainable growth. It accounted for 50% of the year’s new contracts. This performance shows the attractiveness of Sidetrade’s Sales & Marketing AI solution, based on the convergence of three AI technologies.
- Financials AI revenue reached €20.3m, up 7%, given its historical position as a core contributor to Sidetrade’s income. Prestigious new clients include: Andréas Stihl, France Télévisions, Groupe Fed, Husqvarna, Paredes in France, and Bunzl, Finning International (Caterpillar), Freemantle (RTL Group), Inmarsat, Pharmanovea, and The Parts Alliance in the UK.
End of B2C Services in Q4 2018
Sidetrade announced the end of B2C Services (outsourcing of recovery from consumers), a business line started in 2015, which had become non-strategic in Sidetrade’s new positioning, centered on AI dedicated to the B2B customer journey. Managed at the shared services center in Dublin, B2C Services generated revenue of €2m in 2018.
The phase-out of B2C in Q4 2018 had been anticipated in terms of resources, and its impact on margins in the following financial year will be negligible.
Like for like, Sidetrade management is confident that they will again achieve double-digit growth of its revenue in 2019.