Artificial Intelligence
Sidetrade: 2019 Annual Revenue up 17%, like for like, new ARR up a record 88%
Accelerated growth: revenue up 17%, like for like
New booked Annual Recurring Revenue up a record 88%
2020 outlook: a very promising, high growth market
Olivier Novasque, CEO of Sidetrade, had this to say:
“Early 2019 saw the launch of Aimie, Sidetrade’s Artificial Intelligence platform, and the star of our Financials AI business. Aimie has been a resounding success. What’s more, with a spectacular 88% leap in new booked Annual Recurring Revenue, 2019 was a record year, with the signature of €5m worth of new annual subscription contracts. Beyond these figures, Aimie is the perfect tool for the increase in financial shared service centers in large companies. The challenge is daunting: collect payment from a massive volume of invoices and customers. The solution: drastically accelerate order-to-cash by using Aimie’s powerful algorithms to adapt follow-up action to individual customer payment behavior. Aimie is the proven way to boost the productivity, professionalism and performance of operational teams. This is a high-growth global market, and Sidetrade is confident in its ability to conquer it.”
Accelerated growth: revenue up 17%, like for like
Sidetrade (million euros) |
2019 | 2018 | Variation |
Q1 Revenue | 6.0 | 5.3 | + 14% |
Q2 Revenue | 6.6 | 5.6 | + 16% |
Q3 Revenue | 6.4 | 5.5 | + 17% |
Q4 Revenue | 6.7 | 5.7 | + 18% |
Like-for-like Annual Revenue | 25.7 | 22.1 | + 17% |
B2C Services | – | 2.0 | – |
Annual Revenue | 25.7 | 24.1 | + 7% |
2019 data is consolidated and unaudited.
2019 was Sidetrade’s fifth consecutive year of double-digit growth. Sidetrade’s annual revenue totaled €25.7m, representing remarkable organic growth of 17%, vs. 2018, like for like. Let us recall that Sidetrade revenue no longer includes B2C Services, since this business line was phased out, as announced in 2018.
This phenomenal sales growth was buoyed by the core Financials AI business, which reached €21.3m in 2019, up 17%. This acceleration reflects the attractiveness of the latest release of the Financials AI platform. Sales & Marketing AI activity is also growing steadily, up 17% in 2019.
New booked Annual Recurring Revenue up a record 88%
In 2019, the booked Annual Recurring Revenue (ARR) from new customers shot up 88%, hitting a record level of €4.8m in new annual subscriptions, vs. €2.6m in 2018. This gives good visibility of Sidetrade’s revenue growth in 2020 and beyond. In fact, mean initial contract period for these new customers is 41.1 months.
Key account ARR performance was even more spectacular, reaching a record of €4.2m in annual subscriptions, vs. €2m in 2018, up 113%. This record stemmed largely from the core Financials AI business, with a whopping 295% rise to €3.8m in new ARR, vs. €1m in 2018. Many prestigious new customers signed up with Sidetrade in 2019, boosting strength in its main sales territories:
- France: Groupe BPCE, Solocal Group, Edenred, Point Fort Fichet, Cham (Groupe EDF), Colissimo (Groupe La Poste), AB Tasty, Europcar Mobility Group, Saint-Gobain ADFORS, Chubb France, Factum Finance, Groupe UP, Fidal, Trescal, Orange Business Services, ITWP, Kersia
- UK: Euro Car Parts, GFK Europe, Frank Recruitment Group, Customade Group, Rexel UK, Chubb UK, Premier Paper
- Benelux : ENGIE Fabricom
- USA: Saverglass, Hearst Magazines, Videojet Technologies Inc., Inchcape, Equiniti Services, TechData
Three factors explain this outstanding growth: 1) The capacity of Aimie, Sidetrade’s AI platform, to augment dramatically operational performance; 2) Market dynamics demanding new ways of boosting productivity; and 3) Sidetrade’s high sales efficiency.
- Aimie, the new digital assistant that augments operational performance
Today, more and more businesses are turning to Artificial Intelligence, because of its capacity to handle huge amounts of customer data so effectively, resulting in lower processing costs and better customer relations. For Finance, cutting-edge machine learning can process massive volumes of invoices, and customize the order-to-cash process based on AI analysis of customer payment behavior.
Since 2017, Aimie has been learning from Sidetrade’s exclusive cloud containing over 300 million payment experiences (transactions worth €953bn), and continuously improving. Aimie’s cash collection recommendations have proven 53% more effective than human decisions alone. In addition, Aimie has cut wasted actions (those not resulting in payment) by 51%, freeing up operational staff for value-added tasks.
- Market dynamics demanding new ways of boosting productivity
Gartner, a leading research and advisory company, explains that robotic process automation spread in 2019, as companies sought to improve operational efficiency and integrate digital systems in new processes (source: 2019 Gartner Magic Quadrant for Robotic Process Automation Software). Artificial Intelligence perfectly meets these needs, especially in shared service centers, which are a real mega-trend in large enterprises.
- Sidetrade’s high sales efficiency
2019 was a great year for sales, especially in France, the UK and the US, proving the value of the investments made to increase the sales capacity.
2020 outlook: a very promising, high growth market
The global software market for Sidetrade’s Financials AI is expected to exceed $3bn, according to a survey by Research and Markets. As Finance increasingly moves towards digitalization, Sidetrade is well-positioned to conquer this new market, thanks to a technological lead and a highly effective sales force.
Sidetrade is confident in their ability to sustain double-digit growth in 2020.
Investor relations
Christelle Dhrif +33 6 10 46 72 00 [email protected]
Media relations
Daniel Blackman +44 (0)7745 669 229 [email protected]
About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) accelerates company revenue and cashflow. Its Artificial Intelligence, Aimie, is able to recognize and anticipate customer behavior in order to recommend, in real time, the best strategies for sales and finance teams. Aimie reinforces three pillars of the customer journey: sales development, loyalty and collection speed. Sidetrade has a global reach, thanks to its 250 talented employees based in Paris, London, Birmingham, Dublin, Amsterdam and New York. Used in 80 countries, Sidetrade’s technology enables more than 2,700 businesses of all sizes and from all sectors to be more competitive.
For further information, visit us at www.sidetrade.com and follow us on Twitter @Sidetrade.
In case of a discrepancy between the French and English versions of this press release, only the French version should be deemed valid.
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Artificial Intelligence
Wego and Tourism Authority of Thailand Partner for The Fourth Consecutive Year, Showcasing the Beauty of Thailand
DUBAI, UAE, April 25, 2024 /PRNewswire/ — Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), is thrilled to announce its continued partnership with the Tourism Authority of Thailand (TAT) for the fourth consecutive year, showcasing the unparalleled beauty and charm of Thailand as a premier travel destination.
Building upon the success of their previous collaborations, Wego and the Tourism Authority of Thailand are once again teaming up to promote Thailand’s diverse attractions, rich culture, and breathtaking landscapes to travelers worldwide. Through this strategic partnership, Wego aims to inspire travelers to explore the wonders of Thailand and experience its unique blend of tradition and modernity.
Over the past campaigns, Wego and the Tourism Authority of Thailand have successfully amplified Thailand’s appeal as a top travel destination, reaching millions of travelers and driving significant interest in visiting the country. From its pristine beaches and vibrant cities to its lush jungles and cultural heritage sites, Thailand offers an array of experiences that cater to every traveler’s preferences.
“We are delighted to continue our partnership with the Tourism Authority of Thailand for the fourth consecutive campaign,” said Mamoun Hmedan, Chief Business Officer, Wego. “Thailand is a beloved destination for travelers worldwide, and we are committed to showcasing its beauty and diversity through our platform. Together with the Thailand Tourism Board, we look forward to inspiring even more travelers to explore all that Thailand has to offer.”
The success of the previous campaigns underscores the effectiveness of Wego and the Thailand Tourism Board’s collaborative efforts in promoting Thailand as a must-visit destination. By leveraging Wego’s extensive reach and innovative marketing capabilities, the partnership aims to further elevate Thailand’s profile and attract more travelers to experience the magic of the Land of Smiles.
“We are thrilled to continue our partnership with Wego for the fourth campaign,” said Mr. Chaiwat Tamthai, Director of TAT Dubai office. “Thailand offers an unparalleled travel experience, from its stunning beaches and vibrant cities to its rich cultural heritage. Through our collaboration with Wego, we are excited to showcase the beauty of Thailand to travelers in the MENA region and invite them to discover the wonders of our country.”
As travelers seek unforgettable experiences and breathtaking landscapes, Wego and the Tourism Authority of Thailand are committed to showcasing Thailand’s unique charm and allure, inviting travelers to embark on an unforgettable journey to this enchanting destination.
About Wego
Wego provides award-winning travel search websites and top-ranked mobile apps for travelers living in the Asia Pacific and the Middle East regions. Wego harnesses powerful yet simple to use technology that automates the process of searching and comparing results from hundreds of airlines, hotels, and online travel agency websites.
Wego presents an unbiased comparison of all travel products and prices offered in the marketplace by merchants, both local and global, and enables shoppers to quickly find the best deal and place to book whether it is from an airline or hotel directly or with a third-party aggregator website.
Wego was founded in 2005 and is dual headquartered in Dubai and Singapore with regional operations in Bangalore, Riyadh, Cairo, Lahore, and Kuala Lumpur.
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Artificial Intelligence
Building Energy Management Systems Market Projected to Reach $67.69 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 24, 2024 /PRNewswire/ — The report titled “Building Energy Management Systems Market by Component (Hardware, Services, Software), Type (Integrated Building Energy Management Systems, Standalone Building Energy Management Systems), Application, Deployment Mode, End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $34.52 billion in 2023 to reach $67.69 billion by 2030, at a CAGR of 10.09% over the forecast period.
“Revolutionizing Energy Efficiency Globally With The Evolution of Building Energy Management Systems (BEMS)”
In an era where energy conservation and efficiency have become paramount, building energy management systems (BEMS) are at the forefront of this transformation, offering solutions that monitor, control, and optimize energy usage within buildings. These advanced systems, leveraging real-time data analytics, automate energy control, enhance energy savings, reduce costs, and contribute to a greener planet. Primarily utilized in commercial spaces, residential areas, and industrial sectors, BEMS has a broad application scope, covering HVAC, lighting, and security systems. Factors driving the expansion of the BEMS market include escalating energy expenses, heightened awareness of environmental impacts, and the increasing incorporation of Internet of Things (IoT) and cloud-based technologies, coupled with supportive government initiatives promoting energy-efficient infrastructures. Although challenges such as high initial costs and technology integration barriers exist, the advent of AI and IoT technologies within BEMS heralds a future of predictive energy management and remote operational capabilities, with a growing emphasis on integrating renewable energy sources. Regions such as the United States, Canada, the European Union, and emerging economies such as China and India are witnessing significant growth in BEMS adoption, spurred by regulatory policies and a shift towards sustainable building practices. This global movement toward BEMS signals a step toward reducing carbon footprints and highlights the collective effort to embrace technology for a sustainable future.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
“Harnessing Energy Management for Sustainability and Efficiency”
Data centers are pivotal infrastructures in the digital transformation era, consuming up to 50 times more energy than typical commercial spaces. This energy demand positions data centers as key contributors to the U.S.’s overall electricity consumption. Recognizing this, implementing building energy management systems (BEMS) is crucial in mitigating the environmental impact and operational costs associated with data centers. BEMS optimizes cooling systems to prevent equipment overheating, thereby enhancing energy efficiency by leveraging real-time data. Such systems reduce the power usage effectiveness (PUE) ratio, highlighting a move toward more sustainable consumption patterns and ensuring data centers’ operational continuity. Integrating seamlessly with existing infrastructure, BEMS offers a comprehensive approach to energy management, enabling more innovative cooling, efficient power usage, and predictive maintenance. This transition highlights a commitment to environmental responsibility and fosters operational efficiency, setting a new standard for data center operations worldwide.
“Revolutionizing Building Efficiency With Advanced Energy Management Systems Optimized Usage”
In push toward sustainability, building energy management systems (BEMS) stands at the forefront of innovation, integrating sophisticated hardware such as sensors, actuators, controllers, and more to manage and reduce energy consumption in buildings meticulously. These systems work in concert to monitor environmental conditions and adjust heating, ventilation, and air conditioning (HVAC) settings in real time, leading to significant energy savings. BEMS provides valuable data that helps identify savings opportunities, while networking tools ensure seamless communication between devices by precisely tracking energy flow through meters. Servers process vast amounts of data, enabling detailed analysis and actionable insights to refine energy use further. Additionally, comprehensive services, including customized consultations and dedicated support, ensure that each BEMS is tailored to a building’s unique needs, providing efficient operation and extended system longevity. BEMS exemplifies the strategic shift toward more sustainable and operationally excellent building management through the collaborative synergy of hardware, software, and expert services.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
“Schneider Electric SE at the Forefront of Building Energy Management Systems Market with a Strong 13.97% Market Share”
The key players in the Building Energy Management Systems Market include Schneider Electric SE, Honeywell International Inc., Azbil Corporation, Emerson Electric Co., Johnson Controls International PLC, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Building Energy Management Systems Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Building Energy Management Systems Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Building Energy Management Systems Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/building-energy-management-systems
“Dive into the Building Energy Management Systems Market Landscape: Explore 180 Pages of Insights, 566 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsBuilding Energy Management Systems Market, by ComponentBuilding Energy Management Systems Market, by TypeBuilding Energy Management Systems Market, by ApplicationBuilding Energy Management Systems Market, by Deployment ModeBuilding Energy Management Systems Market, by End-UseAmericas Building Energy Management Systems MarketAsia-Pacific Building Energy Management Systems MarketEurope, Middle East & Africa Building Energy Management Systems MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
Related Reports:
Home Energy Management System Market – Global Forecast 2024-2030Energy Management System Market – Global Forecast 2024-2030Intelligent Building Automation Technologies Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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Artificial Intelligence
Terra Drone, Unifly, and Aloft Launch UTM Development for AAM Targeting Global Markets
TOKYO, April 25, 2024 /PRNewswire/ — Terra Drone Corporation, a leading drone and Advanced Air Mobility (AAM) technology provider headquartered in Japan, announced today the launch of joint development with its Group companies Unifly NV (“Unifly”) and Aloft Technologies Inc. (“Aloft”) focused on UAS Traffic Management (UTM) for AAMs targeting global markets. Terra Drone has been making strides in its pioneering UTM business via strategic investments in Unifly, a leading UTM technology provider based in Belgium, and Aloft, which has the top UTM market share in the U.S. This collaboration marks the world’s first-ever joint UTM development for AAMs by multiple companies with extensive track records in UTM implementation and operation.
The three companies pursue joint UTM development to capitalize on the rapid global progress in electric vertical take-off and landing aircrafts (eVTOLs), set to revolutionize transportation. Morgan Stanley forecasts the Urban Air Mobility (UAM) market to reach $1 trillion by 2040 and $9 trillion by 2050 (1), with eVTOLs gaining global recognition through test flights and prototype showcases.
The companies proudly announce initiatives to enhance their existing UTM platforms in anticipation of the surge in eVTOL aircraft and drone activities. The shared vision for the UTM platform is to enable safe and efficient flight operations for eVTOLs and drones in the foreseeable future.
Recognizing the evolving needs of the AAM industry, they are dedicated to extending their platform by incorporating crucial additional functions. These enhancements, designed with automation at their core, aim to streamline operational efficiencies and pave the way for the integration of their increasingly automated UTM technology into the design and operational framework of AAMs. Through these efforts, they aim to set new standards in UTM and to facilitate the seamless integration of eVTOLs and drones into the national airspace, bolstering the potential for the AAM industry.
Through this initiative, they aim to build a global UTM infrastructure that kickstarts the AAM industry worldwide, creating a cohesive ecosystem that supports AAM growth and addresses broader challenges of urban mobility, sustainability, and air traffic safety.
Notes to Editor:
Research by Morgan Stanley in a report titled “eVTOL/Urban Air Mobility TAM Update: A Slow Take-Off, But Sky’s the Limit” https://advisor.morganstanley.com/the-busot-group/documents/field/b/bu/busot-group/Electric%20Vehicles.pdf]
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