Sidetrade Plans To Purchase Order-To-Cash Firm Amalto

Order-to-cash (O2C) technology company Sidetrade plans to acquire Amalto, with the final completion of the purchase set to occur before April 18, 2021, according to an announcement Tuesday (April 6).

Sidetrade Founder, Chair and CEO Olivier Novasque described the Amalto deal as a “powerful gas pedal for Sidetrade’s international business growth.”

“Amalto’s innovative solutions will enrich our B2B AI [artificial intelligence] platform, and the intention is this will be rapidly available to all Sidetrade customers,” Novasque said in the announcement.

Amalto has offices in Paris, Calgary and Houston. The company serves as a North American integration specialist for the transfer and digitization of O2C paperwork in the oil and gas sector. It conducts 90 percent of its business sales in North America. Of the 21 individuals in the company’s employ, per the announcement, 15 are in North America.

According to the announcement, Schlumberger, General Electric and Chevron are among Amalto’s clients.

“Being part of the Sidetrade family will allow us to realize our ambition of integrating the best of AI in our solutions and reaching the greatest numbers of businesses,” Amalto Co-Founder and CEO Emmanuel Thiriez said in the announcement.

Sidetrade, which has 250 staffers, has next-generation AI called Aimie that crunches large amounts of business-to-business (B2B) customer payment behavior information to automate the O2C workflow.

The company already has a presence in North America and works with companies like Talend, Hearst Magazines, Tech Data and Expedia, according to the announcement.

As previously reported, success in the evolving post-COVID-19 international business world will make companies modify their O2C workflows from top to bottom. The O2C workflow encompasses each part of the business relationship ranging from presale interactions up to final payment. A number of firms are looking for methods to bring each step into the digital B2B world.

PYMNTS data indicates that 39 percent of firms have transitioned away from nonautomated O2C workflows and toward digital ones since the beginning of the crisis.