Sidetrade Reports 14% Revenue Growth for 2020

Sidetrade, a software-as-a-service provider, reported its annual revenue for 2020 grew by 14% to €29.2 million. The company also unveiled its new "Fusion100" strategic plan aimed at accelerating growth in Europe and the United States.

The company's fourth-quarter bookings saw a 31% increase, with bookings from enterprise clients up by 46%. Sidetrade’s sales strategy in 2020 focused on international companies with revenues exceeding €1 billion, identified as more resilient during the economic downturn.

In 2020, Sidetrade secured a record number of new enterprise client contracts, with enterprise accounts representing 97% of bookings. The company’s SaaS model, characterized by 89% recurring revenue, demonstrated resilience. Customer churn for enterprise accounts remained controlled at 5.6%, significantly below the SaaS industry average.

Sidetrade CEO Olivier Novasque highlighted the resilience of the company's SaaS model during the challenging economic conditions. "In this context, transformation is no longer an option but an absolute priority for companies, particularly for CFOs," Novasque stated. The company plans to invest in innovation and expansion.

Sidetrade specializes in Order-to-Cash solutions designed to help businesses improve cash collection and reduce payment delays. The company aims to become a global leader in the Order-to-Cash market.