Building on its achievement of SOC 1® Type 1 and SOC 2® Type 1 assurance first obtained in January 2024, this milestone reflects a significant improvement and demonstrates Sidetrade’s dedication to consistently improving its security and operational practices.
Laurent Pontier, Sidetrade’s CTO Chief of Staff, commented: We are extremely proud of our strong commitment to information security, assurance and operational excellence at Sidetrade. These achievements have become a defining advantage in the financial software landscape, particularly in the Order-to-Cash process, where secure and efficient management of financial workflows is critical.
SOC 1® Type 2 and SOC 2® Type 2 assurance reports are of particular relevance to our clients in North America, those operating in regulated sectors, and businesses prioritizing data security. These attestations and certifications provide assurance to our customers and partners worldwide that we adhere to international best practices in security, reliability, and compliance, and consistently strive to surpass them with the utmost rigor year after year.
The SOC (System and Organization Controls) reporting process provides an industry benchmark for evaluating the security, reliability, and effectiveness of third-party service providers. SOC 1® (ISAE 3402) focuses on the financial reporting aspects of Sidetrade’s solutions, validating the controls’ effectiveness that support accurate and secure financial operations. In contrast, SOC 2® (ISAE 3000) addresses the broader security framework across the entire organization.
The advancement from Type 1 to Type 2 attestations demonstrates that Sidetrade not only has designed controls that comply with the most stringent international information security standards at a specific point in time, but also that they are operationally effective and consistently implemented over an extended period. This progression underscores Sidetrade’s proactive efforts to stay ahead of evolving assurance and security challenges, reinforcing its position as a trusted partner for organizations.
Additionally, Sidetrade has successfully renewed its ISO 27001:2022 certification for the fifth consecutive year since 2019. Issued by EY CertifyPoint, the internationally recognized certification sets the benchmark for secure information management, providing a comprehensive framework to protect data, mitigate security risks, and ensure organizations uphold international best practices. By achieving ISO 27001:2022 certification once again, Sidetrade reaffirms its dedication to information security, assuring customers that its data protection practices not only meet global standards but are also continually reviewed and improved to address emerging threats.
Find out more about Sidetrade’s commitment to effective governance and Corporate Social Responsibility here.
„Cash Maturity 2024“ by Sidetrade and PwC provides a perspective on finance transformation trends across Europe, revealing how companies are rethinking Order-to-Cash strategies amid significant interest rates and tighter credit conditions. Now in its second year, the report shows businesses adopting generative AI and cultivating in-house talent to build finance functions that drive measurable value.
The study serves as a guide for finance leaders to assess their cash maturity and take proactive steps to optimize their finance functions. As finance departments continue to evolve into dynamic, value-generating units, the road to success lies in embracing change, setting clear priorities, and making bold, informed choices in the face of economic uncertainty.
The complete Cash Maturity 2024 study can be accessed here.
Arthur Wastyn, Partner PwC France and Maghreb commented: Through technology – AI and process automation primarily – companies are now embracing a more systematic and ambitious transformation of their Order-to-Cash processes, moving beyond the aspirations of 2023. Yet, the success and sustainability of this transformation depend not only on technological foundations but, above all, on identifying bold, visionary leaders able to deliver complex projects in a volatile environment.
Key findings of „Cash Maturity 2024“
- Even as budget increases shrink, down 30% from 2023, finance leaders are pressing ahead with transformation efforts; 87% are actively engaged in projects for 2024 (compared to 59% in 2023), with nearly all of these active projects (98%) making optimized Order-to-Cash (O2C) processes a focal point of their investments. This push aligns with a 79% increase in priority for initiatives targeting cash flow acceleration and EBITDA growth which is critical as businesses navigate rising interest rates and constrained credit conditions.
- Generative AI has emerged as a high priority within this transformation landscape. Over 80% of companies are investing in it, despite financial constraints, placing it just behind ERP systems in deployment plans. Yet, with more than 55% of O2C tasks still handled manually, many companies are recognizing the need to automate these processes. In fact, three-quarters of respondents are planning significant automation upgrades over the next 18 months, seeking to boost productivity and cash flow efficiency.
- Accompanying these technological moves is a notable pivot in HR strategy within finance teams. Rather than outsourcing, companies are emphasizing internal upskilling, addressing the rising demand for technical, analytical, and leadership skills. This year, 50% of respondents report prioritizing talent development—up from 27% in 2023—reflecting a substantial commitment to building both the hard and soft skills essential for today’s finance strategy.
Jean-Claude Charpenet, Sidetrade Partner added: In today’s climate, budget limitations aren’t slowing down investment in generative AI – in fact most business leaders see it as essential to drive Order-to-Cash transformation. For today’s CFOs, smart technology isn’t just about productivity; it’s a strategic move to stabilize cash flow and protect EBITDA. Finance transformation is now a must, fueling growth and resilience in a market that demands agility. The real challenge is no longer ‘if’ but deciding ‘how fast’ and ‘where to focus’.
Methodology
„Cash Maturity 2024“ was co-authored by PwC and Sidetrade between Q2 – Q3 FY24.
The research encompassed responses from a sample of 180 companies across a range of industries and represented a diverse spectrum of functions, including CEO, CFO and Financial Manager.
To ensure the robustness of our findings, it intentionally designed the survey sample to be highly heterogeneous, encompassing companies of varying sizes, from Small and Medium-sized Enterprises (SMEs) to large corporations, and spanning across a multitude of industry sectors.
This methodological approach was undertaken to provide a comprehensive and representative analysis of the finance transformation landscape, offering insights that cater to a wide range of organizations.
Sidetrade is one of 14 vendors to be evaluated and was cited within the IDC MarketScape report.
According to the report, “Consider Sidetrade when you are looking for an Order-to-Cash software provider that specializes in AI technology and has a global footprint.”
Kevin Permenter, Research Director in Financial Applications at IDC said: Sidetrade’s position as a Leader is a reflection of its advanced AI, extensive data set and robust multi-tenancy cloud architecture. Its comprehensive O2C solution is powered by an impressive data lake, offering real-time payment behavior insights and benchmarks to help large organizations improve their cashflow performance, whilst its multi-tenant cloud architecture ensures easier upgrades and scalability, enhancing customer support and maintenance.
Sidetrade has long been recognized for its pioneering approach to innovation in the field of AI. The power of its AI technology – Aimie – is fueled by the most advanced and extensive Order-to-Cash data lake. The Sidetrade Data Lake processes $6.1 trillion in B2B payment transactions real-time daily in Sidetrade’s cloud. Aimie is continuously enriched with millions of data points, leveraging the latest in machine learning, natural language processing and, more recently, generative AI.
Because there is no high-performance AI without data, Aimie brings a significant competitive advantage and differentiating efficiency over other O2C solutions. With exclusive access to the Sidetrade Data Lake, Aimie mines a vast source of financial and business insights. This unique capacity ensures exceptional accuracy in analyzing payment behaviors and predicting the dynamics of cash flow generation.
Rob Harvey, Chief Product Officer at Sidetrade added: We are honored to receive this recognition as a Leader by the IDC MarketScape which we believe is a testament to our continued commitment to the advancement of AI technology in Order-to-Cash.
We recognized a long time ago that artificial intelligence is only as powerful as the data that fuels it. By drawing on the Sidetrade Data Lake, our generative AI, Aimie, delivers deeper insights and unparalleled adaptability. It is this steadfast vision that has enabled us to lead the way forward today and propel O2C practices into a new era of efficiency.
About the IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers
Download an excerpt of the report here.
Sidetrade has also been named a Leader in Gartner® Magic Quadrant™ and included in Critical Capabilities for Invoice-to-Cash Applications for three years in a row since 2022. From Sidetrade’s perspective, this recognition is further acknowledgement of its ability to execute and completeness of vision.
Gartner, Critical Capabilities for Invoice-to-Cash Applications 7 May 2024, Tamara Shipley Et Al.
Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
- Annual Revenue for 2024Tuesday 21 January 2025
after stock market closes - Annual Results for 2024Wednesday 26 March 2025
after stock market closes - First Quarter Revenue for 2025Tuesday 15 April 2025
after stock market closes - Annual Shareholder general meeting 2025Wednesday 18 June 2025
from 11:00am (CEST) - First Half Year Revenue for 2025Wednesday 16 July 2025
after stock market closes - First Half Year Results for 2025Wednesday 17 September 2025
after stock market closes - Third Quarter Revenue for 2025Tuesday 14 October 2025
after stock market closes - Annual Revenue for 2025Tuesday 20 January 2025
after stock market closes
Olivier Novasque, CEO of Sidetrade commented:
To date, our continually robust organic growth, combined with the strategic relevance of our external growth through the consolidation of SHS Viveon, has triggered an impressive 33% increase in our revenue. The expected slowdown in bookings over the third quarter, which is traditionally the weakest period of the year, in no way affects our ambition to match or even exceed our all-time record for contracts won last year. That said, we are embarking on a strong trajectory and reiterate our confidence in stepping up double-digit growth for 2024 and further out.
Parallel to this, our official registration as a Dematerialization Platform Partner by France’s Public Finance Department, and, in a different context, reaching the Top 15% of the EcoVadis ranking highlights our commitment to the environmental, social and governance responsibility. Performance, safety and efficiency are more than mere targets; together, they form the pillars that shape our future.
Quarter after quarter, our resilient economic model combined with our technological lead in AI and accelerated international growth – now with 68% of revenue achieved outside France – have enabled us to significantly upscale in next to no time, fast-tracking Sidetrade’s development into one of the select few Order-to-Cash technology leaders worldwide.
Q3 bookings at €1.52 million, in line for 2024
In Q3 2024, which is traditionally the weakest of the year, Sidetrade achieved bookings of €1.52 million in New Annual Contract Value (ACV), versus €2.49 million in the same period last year. As announced during the September 11 investor presentation, the expected slowdown in third-quarter bookings against a complex economic and political backdrop does not affect the Group’s positive outlook for the full 2024 fiscal year.
In the first nine months of 2024, Sidetrade recorded €8.94 million for bookings in New Annual Contract Value (ACV), compared to €8.42 million year-over-year (+6%). Given the postponement of a number of new contracts in Q3 2024 – serving to bolster an already strong business pipeline for Q4 2024 – Sidetrade is expected to match or even exceed its historic bookings record on a full fiscal year basis, which was set in 2023 with €11.2 million achieved in new ACV terms.
Strong revenue growth, up 33%, with SaaS subscriptions up 31%
| Sidetrade (€m) |
Q3 2024 | Q3 2023 | Change |
| SaaS subscriptions | 12.51 | 9.5 | +31 |
| revenue | 14.92 | 11.2 | +33% |
In Q3 2024, Sidetrade achieved revenue of €14.9 million, representing an increase of 33% and up 14% on a comparable scope basis (excluding the recent acquisition of SHS Viveon). This strong performance is attributable to several key factors.
First, the robust momentum in revenue growth on a constant scope basis continues. As a reminder, in the first half of 2024, Sidetrade reported a 19% increase in its revenue with growth of 18% in revenue for SaaS subscriptions which was impacted by a 4% contribution from the CreditPoint Software business, consolidated as of July 2023. On a constant scope basis, growth in the Company’s revenue was therefore 15%, with a 14% increase in revenue for SaaS subscriptions. In line with this performance, Sidetrade (excluding SHS Viveon) sustained vigorous momentum over Q3 2024, posting a 14% increase in its total Company revenue and 15% revenue growth for SaaS subscriptions, driven by a record performance for half-year bookings.
In addition, the consolidation of the SHS Viveon business – effective since July 1, 2024 – substantially contributed to this quarterly growth, delivering a positive impact of 19%. SHS Viveon generated revenue of €2.1 million in Q3 2024. Fully consolidated in the DACH region (Germany, Austria, Switzerland and eastern European countries), SHS Viveon’s business represents a new growth driver for Sidetrade, with this geography now accounting for 14% of the Company’s total revenue.
On the back of SHS Viveon’s consolidation, international markets now represent 68% of the Group’s revenue. With more than 70% of its workforce based outside France, Sidetrade is strongly positioned to capitalize on an increasingly globalized market, while leveraging a strong local presence in its strategic markets.
Lastly, North America delivered the strongest growth, with revenue up 30%, representing €4.1 million over the period. This market will continue to play a pivotal role in Sidetrade’s growth trajectory.
Analysis of the Company’s customer profiles (including the consolidated SHS Viveon) is underpinned by brisk growth of 53% in subscriptions with multinational corporations generating €2.5 billion-plus revenue. These contracts now account for more than half (52%) of Sidetrade’s total subscriptions and are expected to remain an important growth driver in the quarters ahead. The acquisition of SHS Viveon has helped accelerate this momentum, thanks to the business’ established portfolio of key accounts.
Registration completed in France’s public invoicing portal
Under France’s reform of electronic invoicing, Sidetrade was recently registered as a Dematerialization Platform Partner by the country’s Public Finance Department.
While acknowledging that this initiative marks a step forward, Sidetrade does not regard it as providing a competitive advantage to its solutions and the Company is continuing to assess all options consistent with its targets for strategic development, both in France and internationally.
Sidetrade rises to the Top 15% on EcoVadis
Sidetrade recently secured a new Silver medal from EcoVadis, ranking among the top 15% of companies rated within its industry. This award recognizes the Group’s social and environmental performance.
In September 2024, the Company reached a score of 70/100, placing it in the 91st percentile. This progress from its previous rating of 68/100 and its positioning in the top 25% underscore the Group’s relentless focus on improving its sustainable operations. The EcoVadis score illustrates the strides taken to address environmental, social, and ethical issues, particularly through strengthened policies on cutting energy consumption and optimizing technical infrastructure.
Such recognition distinguishes Sidetrade as one of the sustainability leaders in its sector, enhancing its credibility with international clientele and partners while cementing its position as a responsible company committed to driving the transition towards a more sustainable economy.
| Sidetrade (€m) |
H1 2024 | H1 2023 | Change (%) |
|---|---|---|---|
| Revenue | 24.8 | 20.9 | + 19% |
|
of which SaaS subscriptions |
20.5 | 17.4 | + 18% |
| Gross margin | 19.9 | 16.9 | + 18% |
| as a % of Revenue | 80% | 81% | |
| Operating expenses (OPEX) | (16.3) | (14.4) | + 13% |
| Operating margin* | 3.6 | 2.5 | + 44% |
| as a % of Revenue | 15% | 12% | |
| Net profit | 3.6 | 2.2 | + 64% |
*Operating margin corresponds to operating profit based on 2024 accounting standards in France, including the French Research Tax Credit.
Olivier Novasque, CEO of Sidetrade commented:
Sidetrade once more delivered its best half-year to date with double-digit growth across the board in terms of financial indicators. This performance reflects a significant leverage effect on the operating margin (+44%) and net profit (+64%). Despite an uncertain economic and political backdrop on both sides of the Atlantic, in this first half, Sidetrade illustrated the robustness of its growth driver, at the same time achieving a new record in bookings – almost balanced between Europe and the United States – with substantial revenue growth. Although by tradition, the third quarter is the weakest, a strong fourth quarter – on the bookings front – could sustain this 2024 momentum and further increase revenue visibility for 2025.
The additional €3 million in gross margin generated over these six months gave us significant scope to continue investing ambitiously (up by €1.9 million compared to H1 2023). We’ve primarily focused on our own artificial intelligence – namely, Aimie – and have successfully integrated the first Generative AI features into our product offering. Despite the increase in investments, the operating margin surged by around 300 basis points in this first half, now reaching 15% of revenue, compared to 12% in the first half of 2023 – a standout profitability for the industry. In addition, the €6.2 million in operating cash flow generated over the first half was more than sufficient to fully self-finance the SHS Viveon AG acquisition, for a net total of €4.6 million, excluding related costs.
On balance, Sidetrade is fully equipped to focus on its three main priorities for the coming quarters: 1/ Becoming the global Leader in Generative AI-powered Order-to-Cash applications, leveraging proprietary technology to create unmatched value for its customers, 2/ Expanding further in the United States, 3/ Strengthening our leader status in Europe, particularly through the growth of the DACH region, accelerated by the acquisition of SHS Viveon AG. Staying true to its proven model which combines growth and profitability, Sidetrade will continue to establish itself as a key global player in the Order-to-Cash space. We are more committed than ever to executing our Fusion100 strategic plan, aiming for $100 million in revenue by the end of 2026.
All-time performance for half-year bookings: ACV up 25%
| Sidetrade (€m) |
H1 2024 | H1 2023 | CHANGE |
|---|---|---|---|
| New SaaS subscriptions (New ARR) | 3.95 | 3.30 | + 20% |
| Services bookings | 3.47 | 2.62 | + 32% |
| New Annual Contract Value (ACV) | 7.42 | 5.92 | + 25% |
2024 information is from consolidated, unaudited data.
In H1 2024, Sidetrade set another record for bookings, adding €7.42 million in New Annual Contract Value (ACV), representing a substantial increase of 25%.
This first-half performance is partly due to the Company’s success in North America since it represents New ACV of €3.34 million, accounting for 45% of total bookings. Sidetrade’s development model now shows a near-perfect balance between North America (45%) and Europe (55%). Within Europe, France accounted for 31% of total bookings, serving as a relative contributor to Sidetrade’s future growth.
New SaaS bookings (New ARR) totaled €3.95 million, up 20% on H1 2023, reaching an unprecedented level for a first half in Sidetrade’s history, even though Q2 2023 remains the best-performing single quarter to date in terms of bookings. Q1 and Q2 2024 recorded more regular and steadier new SaaS bookings compared to the same periods last year, posting €1.85 million (Q1 2024) and €2.10 million (Q2 2024) versus €0.89 million (Q1 2023) and €2.41 million (Q2 2023). Overall, in H1 2024, Total Contract Value (TCV) increased to €12.24 million.
Parallel to this, services bookings, with almost all invoiced within 12 months of their signing, totaled €3.47 million for the first half of 2024, up 32% on the same period the previous year. This strong increase is still attributed to the multiplication of global projects.
This first-half 2024 performance reflects the upward trend in bookings observed during the 2023 fiscal year, further validating the relevance of the Company’s strategic decisions, namely: 1/ A business strategy kick-started 24 months ago, with a focus on companies generating $1 billion-plus revenue, 2/ An increased recognition by multinationals of Sidetrade’s technological edge in AI, particularly in the United States, 3/ The development of a comprehensive Order-to-Cash software suite, resulting from a strategy of continuous innovation.
Strong revenue growth, up 19%, with SaaS subscriptions up 18%
The Company’s revenue for the first half of 2024 totaled €24.8 million, also reporting an increase of 19%, attributable to:
- Robust revenue growth in the United States, up 40%
Quarter after quarter, the United States is a growth driver for Sidetrade, posting revenues up 40% to €7.9 million in H1 2024. International markets account for 60% of the Company’s total revenue, with 32% coming from North America. Going forward, the United States will continue to be pivotal for Sidetrade’s growth. - Ever-increasing demand from multinational corporations
Analysis of Sidetrade’s customer profiles is underpinned by growth of 34% in subscriptions with multinational corporations on annual recurring revenue (ARR) contracts in excess of €250,000. These subscriptions now account for 47% of Sidetrade’s total subscriptions and are expected to remain a growth driver in the quarters ahead. - Consolidation of CreditPoint Software business
Since its consolidation on July 1, 2023, CreditPoint Software has positively contributed to Sidetrade’s performance. In H1 2024, this business generated revenue of €0.8 million, with a 4% impact on the Group’s quarterly growth.
In H1 2024, revenue for Order-to-Cash SaaS subscriptions was up considerably, by 18%.
Leverage effect on the operating margin, up 44% to 15% of revenue
Significant increase in gross margin, up 18% at 80% of revenue
Sidetrade’s gross margin stood at 80% of revenue for H1 2024 (vs. 81% in H1 2023) and 92% on SaaS subscriptions (vs. 93% year-over-year). Over this period, the Company recorded a €3.0 million incremental increase in gross margin compared with H1 2023.
This strong performance is fueled by the contribution of SaaS subscriptions, which now account for 95% of the Company’s total gross margin. It also reflects a business strategy promoting Sidetrade’s technological edge in AI, and tight cost control despite an inflationary environment.
Operating margin at 15% of revenue ( 12% in H1 2023)
In H1 2024, the Company’s operating margin came out to €3.6 million, up 44% year-over-year (€2.5 million). This profitability was driven by vigorous revenue growth, an excellent gross margin and efficient cost control.
This marked progress enabled Sidetrade to continue its investment policy, with an increase of €1.9 million versus H1 2023, with a particular focus on R&D (+€1.3 million) notably to integrate Generative AI into the core of its product (see press release).
In H1 2024, operating margin included a French Research Tax Credit of €1.4 million (vs. €1.3 million in H1 2023 as well as marginal capitalization of R&D costs at €0.1 million, i.e. 2% of R&D costs for the half-year.
As a result, Sidetrade’s operating margin stands at 15% of revenue, an increase of three points compared to the 12% recorded in H1 2023.
Surge in net profit to €3.6 million: up 64%
Sidetrade’s net financial income for H1 2024 stood at €0.3 million, up significantly year-over-year (-€0.03 million). This performance is mostly due to interest earned on short-term investments and exchange rate gains achieved during the first half.
Corporate income tax for H1 2024 was estimated at €0.3 million (vs. the same amount a year earlier).
All told, Sidetrade’s net profit for the first half of the 2024 fiscal year was €3.6 million, up 64%, confirming a new level of profitability and a solid balance between growth and profitability.
Strengthened financial health, even after the acquisition of SHS Viveon AG
The first half of 2024 enabled the Company to considerably increase its operating cash flow to €6.2 million.
As of June 30, 2024, Sidetrade reported €24.0 million in gross cash, ending at the same position as of December 31, 2023, despite acquiring SHS Viveon AG for a net total of €4.6 million (acquisition of €6 million in shares offset by €1.4 million in available cash at SHS Viveon AG). Parallel to this, Sidetrade held 85,600 of its own shares for a value of €15.2 million at end-June.
With a financial debt of €9.1 million (reduced by €1.2 million), in addition to acquiring SHS Viveon AG, Sidetrade preserves its acquisition capacity to accelerate its expansion.
Expansion in the DACH region, boosted by SHS Viveon AG
On May 6, 2024, Sidetrade opened a public tender offer for SHS Viveon AG, a German leader in credit risk management software (see press release). Following approval by the Munich Stock Exchange to delist SHS Viveon AG’s shares, Sidetrade extended its offer to July 29, 2024 (see press release). To date, Sidetrade owns 88.01% of SHS Viveon AG’s capital, cementing its position as the majority shareholder.
SHS Viveon AG’s business will be consolidated into the Group’s financial statements from July 1, 2024. For Sidetrade, this acquisition presents a new opportunity to grow in the DACH region (Germany, Austria, Switzerland and eastern European countries) and further strengthen its position worldwide.
Under the terms of the Offer which ran from May 7 to July 29, 2024, Sidetrade AG, a wholly owned subsidiary of Sidetrade group, acquired 2,181,392 shares of SHS Viveon AG, representing 87.58% of SHS Viveon AG’s capital.
Sidetrade then strengthened its position as the majority shareholder with 2,188,135 shares of SHS Viveon AG as of August 8, 2024, representing 87.85% of SHS Viveon AG’s capital.
After November 15, 2024, SHS Viveon (ISIN: DE000A0XFWK2) will no longer be listed on “Freiverkehr” market of the Munich Stock Exchange.
Sidetrade is assisted by King & Spalding LLP as legal advisor on the transaction and ODDO BHF SE as financial advisor.
About SHS Viveon AG, a German leader in credit risk & compliance management software applications
Founded in 1991 and headquartered in Munich, Germany, SHS Viveon AG offers applications designed to enable risk, credit, and compliance management teams to automatically identify, assess, and hedge risks in a flexible, digital process. It simplifies access to all relevant data from any system, improves analysis and simulation, and enables better business decisions.
In 2023, SHS Viveon AG reported revenues of €8.8 million. SHS Viveon AG’s customer portfolio currently comprises 80 businesses including Fortune 100 companies.
In preparation for the Corporate Sustainability Reporting Directive (CSRD) 2025, Sidetrade has prioritized transparency by publicly detailing the progress of its CSR initiatives. This year, Sidetrade not only continued its commitments but also received recognition for its ongoing improvements in environmental and social governance: a Gold Medal from EthiFinance and a Silver Medal from EcoVadis.
This announcement follows Sidetrade’s success in reducing carbon emissions by 5% in 2023 while revenue grew by a strong 20% over the same period (see press release of July 3, 2024). These achievements highlight the company’s commitment to both corporate growth and planetary stewardship.
Sidetrade stands at the confluence of productivity for businesses and sustainability. Our business goals are now indistinguishable from our commitment to societal well-being, stated Sidetrade CEO Olivier Novasque. We’re advancing towards a future where business integrity and environmental responsibility are not just aligned, but intertwined. As a SaaS software vendor, we are privileged to play a role in contributing to the tech industry’s commitment to the goals of the Paris Agreement and the European Union’s ambitions for carbon neutrality by 2050.
By incorporating the United Nations Sustainable Development Goals (SDGs) into its operations, Sidetrade is implementing initiatives with a global impact:
- Climate action and clean energy: Dedicated to reducing its carbon footprint and enhancing sustainability practices.
- Innovation and equality: Advocating for policies that support talent development across genders and fostering innovation.
- Digital responsibility and ethical practices: Upholding robust standards for digital behavior and ethical business practices.
Philippe Gangneux, Sidetrade’s CFO and CSR Ambassador said: Our approach for the future can be distilled into two words: demanding and ambitious. Every decision and innovation at Sidetrade is aimed at amplifying our positive impact on both our community and the environment.
Sidetrade invites stakeholders to review its comprehensive CSR report to better understand how it melds financial success with far-reaching social and environmental impact: here.