Credit, Collections & Insolvency News
Order-to-Cash platform Sidetrade has announced it has signed a global digital transformation deal with Veolia Group., as their exclusive global supplier for digital dunning and payment dispute resolution.
Veolia Group, which aims to be the benchmark company for ecological transformation, has made digitalisation a core element of their strategic plan, Impact 2023. Cashflow generation, which has been among Veolia Group’s top financial objectives, has become even greater since the onset of the Covid crisis.
Patrick Houssin, Head of Group Working Capital Optimisation, Veolia said“At the height of the crisis, insight into our customer exposure and control of our DSO became even more critical, as these elements have a direct impact on our cash generation. A request for proposal was launched in August 2020 for a complete Credit Management solution (collection, dispute settlement, and risk assessment). Beyond technical features, the solution had to be suitable for BUs varying greatly in size, (from a few million euros of revenue to several billions), with different operations, in over 50 countries.”
“Our aim was to choose not just a technical solution, but also a solid partner, with experience in projects of this scale, who could support us in our different locations, and help guide our technological development”
Claude Laruelle, Group CFO at Veolia, said “We picked Sidetrade for two reasons: firstly the advanced features of their solution, based on AI, machine learning and automation, which increase the efficiency of dunning and dispute-resolution processes; and secondly, the quality of a partnership with a firm that has an international footprint, and solid experience with large global groups.”
Olivier Novasque, CEO and founder of Sidetrade said “Being selected by Veolia as the leading technology in international O2C management is extremely gratifying for us. We are indeed proud to contribute to the success of their Impact 2023 strategic plan. Furthermore, analyzing the payment behavior patterns of millions of businesses worldwide in this ecosystem will enable us to further enhance the effectiveness of our algorithms, and our technological lead in artificial intelligence.”