Sidetrade launches powerful Order-to-Cash Generative AI features
- First generative AI (GenAI) features now available
within the Sidetrade platform
- Game-changing innovation for finance teams: Sidetrade’s
GenAI merges powerful LLM algorithms with the industry’s only
real-time Data Lake, setting a new standard in
Order-to-Cash
- Higher levels of accuracy and privacy, thanks to
self-hosted, domain expert LLMs
June 10, 2024 |
Sidetrade, the global leader in AI-powered
Order-to-Cash (O2C) applications, today announces
it is entering the next phase of its AI journey with the launch of
the first of many generative AI (GenAI) features that will enhance
performance, efficiency and user experience.
Olivier Novasque, CEO of Sidetrade
commented: “Leaders around the world understand that
generative AI is the new frontier for driving business
transformation and unexpected growth. At Sidetrade, we are at the
forefront of this exciting and rapidly evolving field. Our
dedication to innovation is reflected in the solutions and the
growth opportunities we create for our employees, customers and
shareholders.
“Our ambition is to revolutionize the
Order-to-Cash landscape. By leveraging generative AI and the
world’s only real time O2C Data Lake, we are going to reshape
industry benchmarks, raising the bar to a level never seen before.
We are changing the game for finance teams’ operations allowing
them to reach unexpected performance. Our AI, AKA Aimie, unlocks
new potential by mastering GenAI efficiency. Aimie processes over
$6.1 trillion worth of O2C payment experiences to provide the best
performance recommendation every second, surpassing the
capabilities of static ERP systems, spreadsheets, rule-based O2C
software and even, advanced but too generic ChatGPT abilities. Our
mission is to empower finance professionals in their daily life by
delivering them not only intelligent automation but the highest
level of intelligence in their cash conversion performance across
their entire Order-to-Cash journey.”
Introducing ‘Ask Aimie’ – Sidetrade’s
first generative AI feature
Recently, Sidetrade introduced ‘Ask Aimie’
within the Digital Case solution, the first generative AI feature
revolutionizing user experience. This new innovation provides users
with concise summaries of lengthy emails from their clients and
enables them to generate appropriate replies by choosing from four
different templates; this functionality, enables to respond
promptly and effectively, maintaining the context throughout the
communication.
With ‘Ask Aimie’, finance teams benefit
from:
- Streamlined efficiency: Reduced time spent on
information gathering and email drafting, freeing up resources for
higher-value tasks.
- Enhanced communication: Faster and more
personalized customer interactions.
- Improved comprehension: An enriched reading
experience with real-time contextual information, helping users
understand content without the need for external research.
- Instant insights: Immediate access to a wealth
of O2C information, setting new benchmarks in AI predictability,
accuracy, transparency, explainability, and user
customization.
Rob Harvey, Chief Product Officer of
Sidetrade commented: “It's been a quarter of a century
since search engines like Google democratized access to universal
knowledge. However, it was still up to us to interpret results and
create relevant, specific, and accurate content from them. Today,
generative AI answers users' problems on specialized topics,
offering invaluable support even in complex environments. But the
benefits of generative AI extend far beyond just producing
well-written content. Domain expert LLMs we are leveraging can be
fine-tuned to deliver responses that not only exhibit human-like
reasoning but also demonstrate a deep understanding of finance and
its context. This approach builds trust with users and adds value
for our customers.
“Our AI, Aimie, mimics human-like reasoning by
analyzing billions of transactions in seconds and focusing on the
complex context of the customer and their environment. This makes
her the most advanced O2C Intelligent Agent on the market. She acts
as a mirror, reflecting current customer interactions and revealing
blind spots and weaknesses through real time, data-driven insights:
Aimie is a superb assistant for text recognition and generation.
This enables organizations to enhance relevance, better understand
context, and optimize customer responses, ultimately improving
customer satisfaction. By freeing up finance teams, sales, and
customer services to tackle more complex issues, Aimie further
enhances customer satisfaction.”
Deploying generative AI technology will allow
Sidetrade’s customers to streamline their customer interactions,
accelerate their understanding, and personalize their responses for
a more human touch.
Combining GenAI with worldwide data to set new standards
in Order-to-Cash
Sidetrade’s AI Aimie utilizes machine learning
(ML) techniques to analyze customer payment behaviors. Since 2015,
Sidetrade has built the most advanced and vast dataset in the
Order-to-Cash market, and the only one offering real time AI
capabilities. Continuously learning from Sidetrade’s extensive Data
Lake, Aimie has been able to recommend optimal collection strategy
and act by her own on certain actions. Now, Sidetrade has
integrated a new range of data science techniques with the
development of its own generative architecture which integrates
Large Language Models (LLMs) that are being trained on vast amounts
of O2C text data to understand and generate complex human language
specific to the industry.
These latest technologies enable Aimie to
analyze and understand natural language queries, generate relevant
answers, and assist users in anticipating future payment behaviors
based on emerging trends and current data. Aimie also leverages big
data elements to process and analyze large quantities of Data Lake
information, elevating its capability to deliver relevant,
accurate, contextualized O2C specific insights that no other vendor
can provide.
Mark Sheldon, Chief Technology Officer
at Sidetrade: “With the O2C industry’s most advanced and
only real time Data Lake, Sidetrade is uniquely positioned to
capitalize on the potential of generative AI because without data,
there is no advanced AI. Sidetrade offers unparalleled insights to
customers worldwide, empowering finance professionals to benefit
from GenAI. This leads to strategic business growth and operational
efficiency in ways previously unattainable. Generative AI places
humans back at the heart of processes, without sacrificing
performance objectives.”
Ensuring data privacy and customization with in-house
innovation of LLMs
The advantage of running Sidetrade’s own
generative architecture with domain expert LLMs, over generic,
third-party hosted LLMs, is that Aimie provides insights that are
far more tailored and specific to the O2C industry. Unlike GenAI
features on the market that offer much more generalist information,
Sidetrade’s AI delivers precision and relevance.
Moreover, unlike other SaaS offerings, all of
Sidetrade’s infrastructure, LLMs, and data remain within
Sidetrade’s private cloud. This ensures that customer data is fully
segregated and never mixed in with external models, prioritizing
privacy and security.Sheldon continued:
“Sidetrade’s approach to generative AI ensures that our technology
upholds the highest standards of privacy, sovereignty, and
accuracy. Instead of adopting a plug-and-play approach, we have
built an entire ecosystem in-house, taking full ownership of the
intellectual property. This strategy offers a whole host of
benefits to our customers, both now and in the future, including a
more bespoke, customized and accurate service. Additionally, it
provides the reassurance that their data never leaves our secure
cloud environment.”
Investor
relationsChristelle Dhrif
00 33 6 10 46 72 00
cdhrif@sidetrade.com
Media
relationsBecca
Parlby
00 44 7824 5055
84
bparlby@sidetrade.com
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 $6.1 trillion worth of B2B payment
transactions daily in the Sidetrade Cloud to predict customer
payment behavior and the attrition risk of more than 38 million
buyers worldwide. Aimie recommends the best operational strategies,
intelligently automates actions on the entire Order-to-Cash
process, and dematerializes customer transactions to enhance
productivity, performance, and working capital improvements.
Sidetrade has a global reach, with 315+ talented employees based in
Paris, London, Birmingham, Dublin, Houston, and Calgary, serving
global businesses in more than 85 countries. Amongst them: Bidcorp,
Biffa, Bunzl, Contentsquare, Engie, Expedia, Inmarsat, KPMG,
Lafarge, Manpower, Opentext, Page, Randstad, Saint-Gobain,
Securitas, Sodexo, Tech Data, UGI, Veolia.Sidetrade is a
participant of the United Nations Global Compact and adheres to its
principles-based approach to responsible business.
For further
information, visit us at www.sidetrade.com and follow us on X
@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.
- Sidetrade: Launch of Generative AI Features Dedicated to
Order-to-Cash
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