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 communication
2021 Annual Results, 26 April 2022, after stock market closes
Investor relations
Christelle Dhrif +33 (0)6 10 46 72 00 cdhrif@sidetrade.com
Media relations
Rebecca 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.
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