Following this announcement, Sidetrade is set to improve its solutions for B2B credit risk management. By placing artificial intelligence at the base of the Collection, Disputes, and CashApps services, the company aims to meet the needs, preferences, and demands of its customers and users, as Sidetrade strengthens its position in North America.
The acquisition will be done in cash for the estimated price of EUR 3 million. The company will pay in part on the signing of the agreement, while the rest of the sum will be scheduled for the end of 2023. This represents a subject to certain customer and user renewals.
The amount includes an earn-out based on the sales that were received by Sidetrade for CreditPoint Software’s solutions in the following three years. Sidetrade will be financing the transaction through its cash position for the end of June 2023.
CreditPoint Software’s suite of tools includes highly configurable customised credit application templates. Furthermore, companies are enabled to use their products in order to combine the information gathered from monitoring over 20 rating agencies around the world with the internal financial and customer data on credit risk exposure. At the same time, the company schedules regular reviews of current credit limits for already existing clients, while offering sales teams and organisations to option to be made aware of credit availability for a potential generation of additional sales.
By leveraging Sidetrade’s Data Lake product, as well as its payment intelligence map that incorporates companies around the world, CreditPoint Software is set to deploy artificial intelligence in all the decisioning processes in order to offer firms improved risk management solutions. CreditPoint Software will use Sidetrade’s sales expertise and its implementation resources in order to expand its new suite of capabilities across the United States, as well as to bring it to the European market for the first time. Sidetrade’s recent partnerships
Sidetrade had multiple partnerships in the last couple of months, covering several geographic areas globally.
At the end of June 2023, Sidetrade announced its collaboration with global commerce media company Criteo, for a multi-year agreement aimed to optimise its Order-to-Cash services. Sidetrade was set to provide its AI technology, which was designed to analyse B2B daily transactions in order to enable businesses to develop their automation processes and improve their client experience. Criteo was allowed to anticipate payment behaviors and prevent customer risks, such as fraud or other online threads.
Earlier in the same month, Eqiom partnered with Sidetrade in order to complete the digital transformation of its Order-to-Cash procedures.
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