Sidetrade has been investing in Artificial Intelligence technologies for more than two years in order to identify tried and tested predictive models. By analysing over 230 million BtoB Trade Credit experiences over the last 3 years, Sidetrade’s teams of Data Scientists have developed Machine Learning algorithms that learn every day on the basis of payment behaviour.
Sidetrade is now enhancing its solution for managing companies’ financial relationships with their customers with a predictive payment score, known as SPi; over 2.2 million SPi scores are already available. Each score is calculated either at company level or on a portfolio of customers, indicating the predictive payment and providing the user with a negotiated predictive term and a late payment prediction. Decision-makers are currently able to identify and prioritise their efforts by renegotiating the agreed terms and/or improving their performance in reducing late payments.
Every improvement assumes an objective measure of performance. For the first time, companies have a predictive payment score for their customers in order to measure their progress. They can anticipate payment behaviours instead of having them imposed on them, by providing finance and sales departments with concrete information so that they can act effectively
explains Jean-Cyril Schütterlé, Sidetrade’s Product & Data Science Director.