Gartner has identified predictive analytics as the most important trend in BtoB trade intelligence, and predicts that by 2020 "predictive and prescriptive analysis will attract 40% of companies' net investment in Business Intelligence and analytical tools."[i]
Sidetrade is making predictive analytics a reality for all decision-makers, and now offers all its clients the opportunity to objectively assess their performance in the area of days to pay.
Artificial Intelligence available to Sales and Finance Departments
Sidetrade has been investing in Artificial Intelligence technologies for more than two years in order to identify tried and tested predictive models. By analysing over 230 million BtoB Trade Credit experiences over the last 3 years, Sidetrade's teams of Data Scientists have developed Machine Learning algorithms that learn every day on the basis of payment behaviour.
Sidetrade is now enhancing its solution for managing companies' financial relationships with their customers with a predictive payment score, known as SPi; over 2.2 million SPi scores are already available. Each score is calculated either at company level or on a portfolio of customers, indicating the average days to pay and providing the user with a negotiated predictive term and a late payment prediction. Decision-makers are currently able to identify and prioritise their efforts by renegotiating the agreed terms and/or improving their performance in reducing late payments.
"Every improvement assumes an objective measure of performance. For the first time, companies have a predictive payment score for their customers in order to measure their progress. They can anticipate payment behaviours instead of having them imposed on them, by providing finance and sales departments with concrete information so that they can act effectively," explains Jean-Cyril Schütterlé, Sidetrade's Product & Data Science Director.
The power of predictive analytics for decision-making at the click of a mouse
The Sidetrade Payment Intelligence solution enables Sidetrade clients to:
- View the predictive score for payment behaviours by company, portfolio, region or industry
- Identify on a daily basis the performance levers for Credit Management teams
- Advise Sales Departments on opportunities for renegotiating terms
- Manage changes in performance in real-time with dashboards and custom alerts
Having been a pioneer of the Cloud in the early 2000s, Sidetrade is now paving the way for providing companies with Artificial intelligence applied to payment terms.
Olivier Novasque, Sidetrade CEO, explains:
"We now know that Artificial Intelligence is no longer confined to driverless vehicles, facial recognition or product recommendations on retail websites. With the Sidetrade Payment Intelligence solution, we are significantly simplifying the work of Finance Departments wishing to evaluate their performance in respect of payment terms, and to accelerate cash flow generation. This is a unique advance in the field of BtoB Trade Credit!
Now every company can use Artificial Intelligence to identify unexpected sources of cash flow. "
Sidetrade Payment Intelligence is available in a 3-month free trial version. To get started today fro free, contact: info@sidetrade.com.
Launch trailer: http://bit.ly/2eg03Yk
[i]Gartner - Magic Quadrant for Advanced Analytics Platforms, Gareth Herschel - Alexander Linden - Lisa Kart, 2016
