- First Generative AI (Gen AI) Features Available on the Sidetrade Platform
- Major innovation for finance teams: Sidetrade’s GenAI combines 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 with self-hosted LLMs from domain experts
Paris, France – June 10, 2024 | Sidetrade, artificial intelligence (AI) platform dedicated to securing and generating business cashflow, today announced that the company is entering a new phase of its AI journey with the launch of the first of many Generative AI (GenAI) features that will improve the performance, efficiency and experience of users.
Olivier Novasque, CEO of Sidetrade said : “Leaders around the world recognize that generative AI is redefining business transformation and enabling surprising growth. At Sidetrade, we are at the forefront of this exciting, ever-evolving field, and our commitment to innovation translates into advanced solutions and growth opportunities for our employees, clients and shareholders.
Our ambition is to revolutionize the Order-to-Cash landscape. Through our proprietary exploitation of generative AI and the world’s only real-time O2C database, we will redefine industry standards, elevating requirements to new levels. This approach fundamentally changes the operations of finance teams, enabling them to outperform expected performance. Aimie, our AI, exploits the potential of GenAI with remarkable efficiency. Processing over $6.1 trillion in payment experiences, Aimie delivers optimal recommendations every second, outperforming traditional ERP systems, spreadsheets, rules-based O2C software, and even the advanced but overly generic features of ChatGPT. Our mission is to simplify the daily lives of financial professionals by offering them not only intelligent automation, but also the potential of GenAI with remarkable efficiency across the entire Order-to-Cash. »
“Ask Aimie”: Sidetrade’s first generative AI feature
Recently, Sidetrade introduced “Ask Aimie” within the Digital Case solution, a first generative AI feature that revolutionizes the user experience. This new innovation provides users with concise summaries of their customers’ long emails and allows them to generate appropriate responses by choosing from four templates. This feature allows you to respond quickly and efficiently, while maintaining the context of the communication.
With “Ask Aimie”, financial teams benefit from:
- Streamlined efficiency: Reduced time spent gathering information and writing emails, freeing up resources for higher value-added tasks.
- Improved communication: Faster, more personalized customer interactions.
- Improved understanding: An enriched reading experience with real-time contextual information, helping users understand content without the need for external searches.
- Instant Previews: Immediate access to a wealth of O2C information, setting new standards in predictability, accuracy, transparency, AI explainability and user personalization.
Rob Harvey, Chief Product Officer of Sidetrade, said: “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 the results and create relevant, specific and precise content from them. Today, generative AI responds to user challenges on specialized topics, providing support even in complex environments. But the benefits of generative AI go far beyond just producing well-written content. The domain-expert LLM language models we leverage can be fine-tuned to provide answers that not only exhibit human-like reasoning, but also demonstrate a deep understanding of finance and its context. This approach builds user trust and creates value for our customers.
“Our AI, Aimie, mimics human reasoning by analyzing billions of transactions in seconds and focusing on the complex context of the customer and their environment. This makes it the most advanced O2C intelligent agent on the market. It acts like a mirror, reflecting current customer interactions and revealing blind spots and weaknesses with real-time data-driven insights: Aimie is an excellent assistant for identification and copywriting. This allows businesses to improve relevance, better understand context, and optimize responses to customers, ultimately improving customer satisfaction. By freeing up finance, sales and customer service teams to tackle more complex issues, Aimie boosts customer satisfaction. »
The deployment of generative AI technology will enable Sidetrade clients to streamline interactions with their own customers, accelerate understanding of customer context and personalize responses for a more human contact.
Combining GenAI and global data to set new standards in Order-to-Cash
Aimie, Sidetrade’s AI, uses machine learning (ML) techniques to analyze customer payment behaviors. Since 2015, Sidetrade has built the most advanced and extensive database dedicated to Order-to-Cash, and the only one offering real-time AI capabilities. Continuously learning from the vast Data Lake, Aimie is able to recommend an optimal collection strategy and take certain actions on its own. Now, Sidetrade has integrated a new range of data science techniques with the development of its own generative AI architecture which integrates LLM language models trained on vast amounts of textual data relating to the O2C business to understand and generate a complex, industry-specific human language.
These latest technologies enable Aimie to analyze and understand natural language queries, generate relevant responses and help users anticipate future payment behaviors based on emerging trends and up-to-date data. Aimie also leverages big data elements to process and analyze large quantities of information from its Data Lake, elevating its ability to provide specific, relevant, precise and contextualized information to the O2C business like no other supplier cannot offer.
Mark Sheldon, Chief Technology Officer of Sidetrade said : “With the most advanced and only real-time Data Lake in the O2C industry, Sidetrade is uniquely positioned to capitalize on the potential of generative AI, because without data, there is no advanced AI . Sidetrade delivers unique insights to clients worldwide, enabling financial professionals to benefit from generative AI. This leads to strategic business growth and operational efficiency in ways previously unattainable. Generative AI puts humans at the heart of processes, without sacrificing performance objectives. »
Ensuring confidentiality and personalization with internal domain-based LLMs
The advantage of using Sidetrade’s own generative architecture with expert LLMs in the field, compared to generic LLMs hosted by third parties, is that Aimie provides much more tailored and specific information to the O2C profession. Unlike GenAI functions on the market which offer much more general information, Sidetrade’s AI offers precision and relevance.
Additionally, unlike other SaaS offerings, all of Sidetrade’s infrastructure, LLMs and data remain in Sidetrade’s private cloud. This ensures that customer data is entirely segregated and never mixed with external models, prioritizing privacy and security.
Sheldon has followed : “Sidetrade’s approach to generative AI ensures that our technology meets the highest standards of privacy, sovereignty and accuracy. Rather than taking a ‘plug-and-play’ approach, we have built a complete ecosystem in-house, taking full ownership of the intellectual property. This strategy offers many benefits to our customers, both now and in the future, including a more personalized, tailored and precise service. Additionally, it ensures that their data never leaves our secure cloud environment.”
Investor Relations & Media Relations
Christelle Dhrif +33 6 10 46 72 00 [email protected]
About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) offers an Order-to-Cash platform specializing in generating and securing cashflow. “Aimie”, Sidetrade’s next generation of artificial intelligence, analyzes more than $6.1 trillion in inter-company transactions in the cloud of the company to predict the payment behaviors of more than 38 million companies worldwide. Aimie recommends the best operational strategies, intelligently automates actions on the Order-to-Cash cycle and dematerializes customer transactions, which improves productivity, performance and working capital.
Sidetrade has a global reach, with over 315 employees in Paris, London, Birmingham, Dublin, Houston and Calgary, serving international businesses in over 85 countries. Among 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 member of the United Nations Global Compact and adheres to its responsible business principles.
For more information, visit www.sidetrade.com and follow us on Twitter @Sidetrade.
In the event of a discrepancy between the French version and the English version of this press release, only the English version must be taken into account.
- Sidetrade: Launch of generative AI functionalities dedicated to Order-to-Cash
