11 April 2022 | Global AI-powered Order-to-Cash platform, Sidetrade, today announced it has been recognized as one of three Leaders in the Gartner Magic Quadrant for Integrated Invoice-to-Cash Applications.*
For more information on today's announcement, download a copy of the Gartner Magic Quadrant for Integrated Invoice-to-Cash Applications here.
Gartner describes the position of Leader as “the strongest position to influence the market’s growth and direction.” In addition, “they demonstrate a market-defining vision of how integrated I2C applications can help CFOs achieve their business objectives of improving cash flow while enabling efficiencies and predictive capabilities within their AR operations.”
Ten vendors were assessed on several critical solution capabilities including collections, customer invoicing, deductions & disputes, as well as wider factors including product innovation, strategy and efficiencies.
Sidetrade’s CEO and founder, Olivier Novasque, commented: “Since our inception 22 years ago, Sidetrade has not stopped innovating or leading the way forward for the Order-to-Cash (O2C) industry: we were the first 100% SaaS platform on the O2C market; in the mid-2010s, we were ahead of the AI curve when we began aggregating billions of B2B transactions within our unrivalled data lake (which enabled us to make our “Augmented” capabilities a reality within our product); and again in 2015, we were the first to market with a true AI-powered O2C virtual assistant - also known as Aimie.
“Today, this Gartner recognition - which positions Sidetrade as one of three Leaders – is, in our opinion, a testament to all our teams’ hard work, as well to all our customers who have supported us throughout our journey taking the O2C market to the next level.”
This Leader positioning for Sidetrade is the latest in a long line of industry recognitions, including:
- The 2021 Gartner Market Guide for Integrated Invoice-to-Cash Applications Report2
- Quadrant Knowledge Solutions’ SPARK Matrix: Account Receivable Application Research, 2021
- The IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Receivable Automation Applications for Enterprise 2020–2021 Vendor Assessment.
In the fallout from the pandemic, cash culture has been positioned higher on business leaders’ agendas, as companies look to secure and accelerate cash flow generation and establish a 360° vision in the Order-to-Cash cycle. Now that intelligent technologies support changing methods of delivering enterprise business capabilities, CFOs have a vested interest in including these intelligent technologies in their new roles and new challenges, or risk missing opportunities to optimize value and drive growth.
Sidetrade provides next-generation AI to companies worldwide and across all industries, including behemoths such as Micro Focus, Tech Data, XPO logistics, Expedia and many more. Its AI technology is powered by its unrivalled data lake of over $4.6 trillion B2B payment experiences and more than 593 million invoices.
Sidetrade’s Chief Product Officer, Rob Harvey added: “With Aimie - our AI virtual assistant - Finance leaders can rely on a global and proven solution from Sidetrade, enabling them to do business with confidence and successfully streamline their Order-to-Cash processes to dramatically increase their efficiencies and accelerate cash flow generation.”
From a corporate perspective, Sidetrade has seen impressive growth since its launch in 2000, most recently reporting on its 2021 annual results which saw a series of record-breaking announcements, including strong growth in SaaS revenue, a new bookings record set, and a promising year of continued growth ahead in 2022.
* Gartner, Magic Quadrant for “Integrated Invoice-to-Cash Applications, Nisha Bhandare, Mark D. McDonald, Tamara Shipley, 6 April 2022
** Gartner, Market Guide for Integrated Invoice-to-Cash Applications, By Nisha Bhandare, 17 May 2021
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About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) provides a SaaS platform dedicated to securing and accelerating cash flow. Sidetrade’s next-generation AI, nicknamed Aimie, analyzes $4,600 million worth of B2B payment transactions daily in the Sidetrade Cloud to predict customer payment behavior and attrition risk of more than 21 million companies worldwide. Aimie recommends the best cash collection strategies, intelligently automates actions on the Order-to-Cash process, and dematerializes customer transactions to enhance productivity, performance and working capital management. 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, Houston, and Calgary, serving global businesses in 80 countries. Amongst them: Tech Data, KPMG, Nespresso, Hearst, Expedia, Manpower, Securitas, Randstad, Engie, Veolia, Inmarsat, and Bidfood.
For further information, visit us at www.sidetrade.com and follow us on Twitter @Sidetrade.
In the event of any discrepancy between the French and English versions of this press release, only the English version is to be taken into account.