Credit, collections & insolvency news
Sidetrade is to offer it’s Artificial Intelligence (AI) company revenue and cashflow platform free of charge to small and medium-sized enterprises.
Sidetrade said that businesses in a range of industries are working to get SMEs through the emergency. Lengthening of B2B credit terms, inability to post or receive invoices and reminder letters, unreachable debtors due to containment measures, disorganisation of teams not accustomed to working remotely, loss of control over their arrears. Cash flow is under high pressure, especially for SMEs.
Given the threat to the economy, tech companies like Sidetrade are joining a vast movement of citizen solidarity to support SMEs. Sidetrade is making a special free offer, called ‘CashControl’, to help SMEs control and secure their cash. CashControl is powered by Sidetrade’s exclusive artificial intelligence technology, used by leading corporations.
Olivier Novasque, founder and CEO of Sidetrade said “For small businesses to survive, especially in an economic downturn, they must get paid. The Public authorities are right to hold payers, especially large companies, accountable. With the outbreak of the pandemic, SMEs’ first priority was business continuity; the next priority is collecting accounts receivable. The following weeks will see whether or not cash, their lifeblood, comes in. Sidetrade will be there for them. We consider it our duty to stand by them in these unprecedented circumstances by providing AI technology that will make a real difference.”