Sidetrade wins the largest contract in its history in the US
21 Februar 2022 - 6:49PM
Sidetrade wins the largest contract in its history in the US
Sidetrade announced that it has signed an
agreement with a U.S. IT services giant, marking the largest deal
in its history. The contract represents a $4.2 million bookings
over an initial three-year period.
In the first quarter of 2022, Sidetrade signed a
global contract for an initial period of three years with an North
American company specializing in strategic technology consulting
and the delivery of critical IT services. A Fortune 500 global
technology services company and listed on the NYSE and, the company
operates in 70 countries, employs more than 130,000 people and
supports the digital transformation of the world's largest private
companies and public organizations.
With revenues of more than $17 billion,
controlling working capital management- in particular accounts
receivables - has become a crucial issue for this group, which has
made securing and accelerating cash flow generation one of its key
financial objectives for several years. Sidetrade will equip all
employees in charge of the Order-to-Cash process, and in particular
those within their four shared service centers. Sidetrade's
Augmented Cash platform along with Aimie, Sidetrade’s Artificial
Intelligence, will replace a competing North American solution
dedicated to Order-to-Cash.
This new contract, the largest in Sidetrade's
history, is fully in line with the company's Fusion100 growth plan,
which includes the goal of becoming one of the top three players in
the US market. Building on its record Q4 2021 bookings and 16%
growth in SaaS activities, Sidetrade - with this new contract -
breaks its record for SaaS bookings from a single client with a
total value of $4.2 million in Annual Recurring Revenue over three
years.
Olivier Novasque, CEO of Sidetrade
said:
“We are proud to support a North American giant
in its transformation project to accelerate its cash flow
generation. Being selected by a leading IT consulting firm is a
tremendous recognition of the value of Sidetrade, its technology
and its teams.
In a competitive context, our technological lead
in AI was a determining factor against our two main North American
competitors. After Expedia, Tech Data and XPO, this iconic signing
propels Sidetrade as a key player in the Order-to-Cash market in
the US and reinforces the execution of our Fusion100 strategic
plan, only a few months after the start of our US operations.”
Sidetrade looks ahead to the 2022 business
year with confidence and a clear vision. Sidetrade has high
expectations, and the means to achieve its ambitions.
Next
communication2021 Annual Results, 26 April 2022, after stock
market closes
Investor
relationsChristelle Dhrif
+33 (0)6 10 46 72
00
cdhrif@sidetrade.com
Media
relationsRebecca
Parlby
+44 7824
505 584
bparlby@sidetrade.com
About Sidetrade
(www.sidetrade.com)Sidetrade (Euronext Growth: ALBFR.PA) is a
fast-growing international SaaS company unlocking customer value.
Sidetrade’s next-generation AI, nicknamed Aimie, analyzes huge
amounts of B2B customer payment behavior data to intelligently
automate the Order-to-Cash process. Based on predictive analytics,
Aimie delivers actionable recommendations in real time to enhance
retention, up-sell/cross-sell, and cash collection. Aimie is a real
gamechanger in augmented intelligence- a system whereby individuals
and machines work together faster and smarter, in complementary
ways. Sidetrade has a global reach, with 250 talented employees
based in Paris, London, Birmingham, Dublin, Amsterdam, Houston, and
Calgary, serving clients in 80 countries. Over 2,700 businesses of
all sizes in a range of industries count on Sidetrade technology to
outperform the competition. Amongst them: KPMG, Nespresso, Hearst,
Expedia, Manpower, Veolia, Inmarsat, and Bidfood,
For further
information, visit us at www.sidetrade.com and follow us on Twitter
@Sidetrade.
In case of any
discrepancy between the French and English versions of this press
release, the French version shall prevail.
- Sidetrade wins the largest contract in its history in the
US
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