Medius 2017 corporate summary

8 February, 2018

Medius, the leader in cloud-based AP invoice automation, experienced an exciting 2017 with new owners of the company, continued strong sales growth in all regions and product innovations to further increase customer value.

FY17 highlights:

  • Sales success: The total net customer base grew by 10% and new ACV (Annualized Contract Value) sales grew to 57 MSEK (7.2M USD).
  • Revenue growth: Recurring revenue accounted for 69% of total revenue and subscription revenue grew by 33%.
  • Product innovation: Medius continued to invest in technology and functionality driving increased efficiency and control of the accounts payable process.
  • Global expansions: Marc Bandini joined the company as the new President, Americas and Medius acquired all outstanding shares in its Australian subsidiary.
  • New owners: Medius was acquired by the global investment firm Marlin Equity Partners.

Customer growth

In 2017, Medius continued its international growth trajectory with terrific sales results, increasing the ACV stock by 23% to 222 MSEK (28 MUSD). New customer wins for the global MediusFlow offering during the year include Accent Group (AUS), Aker BioMarine (NO), Blue Water Shipping (DK), Ensign Energy (CAN), Hayneedle (US), Isagenix International (US), Marine Harvest (NO), SoftwareOne (CH), and many more. 

The SME solution offered in Sweden, Ascendo Invoice, showed an outstanding performance in 2017 with an ACV stock growth of 37% welcoming in total more than 160 new customers.

“In addition to our focus on new sales growth in all key markets, we have also invested in customer success activities to ensure we deliver best-in-class solutions and outstanding support to our customers well beyond the initial deployment,” said Per Åkerberg, CEO at Medius. “Our goal is to drive continuous improvements, leveraging our best practice expertise, process efficiency KPIs and real-life benchmarks , and ultimately work hand-in-hand with our customers to reinvent how AP is done today. By helping our customers regain control of their accounts payable process, we provide better financial visibility, savings opportunities, and ultimately support their business growth.”

Product innovation

Medius continued to focus its development efforts on product innovation that helps customers leverage the benefits from their AP automation solution to drive efficiency and control throughout the entire customer organization. In 2017, these efforts translated into advanced reporting functionality, improved tools to measure and benchmark AP process efficiency KPIs and a self-service onboarding portal for SME customers.

“Our AP automation solutions offer customers so much more than just efficient and fast invoice processing,” said Per Åkerberg, CEO at Medius. “Thanks to our advanced reporting functionality and cloud-to-cloud connectivity to business intelligence tools, our customers can leverage the invoice data that sits in the solution to improve financial visibility and control for the entire company. This way, we help our customers to transform the accounts payable function from back-office support to a strategic center of business.”

During 2017, Medius also announced the launch of an eco-system of partner solutions in the cloud. This eco-system provides pre-connected integrations to best-of-breed cloud solutions, including spend analysis, business intelligence and reporting tools as well as integrations to ERPs. For example, Medius has successfully integrated the MediusFlow solution with Microsoft’s recently released Dynamics 365 for Finance and Operations for numerous customers throughout the year and thereby further strengthened Medius’ longstanding partnership with Microsoft.

Building a solid foundation for the future

In the second half of 2017, Medius leadership has been able to leverage the extensive expert network and deep industry experience of its new owners, Marlin Equity Partners. This work, together with a strong organizational focus on customer success, has put Medius in an excellent position for continued business growth on a global scale.

Medius’ investments in the North American market, including the appointment of Marc Bandini as the new President, Americas, has been very successful resulting in important new customer wins and increased market presence in the region.

Furthermore, during the summer of 2017, Medius acquired all outstanding shares of its Australian subsidiary in order to strengthen the presence and respond to a growing demand of cloud-based AP automation solutions in the APAC region.

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About Medius

Medius is a leading global provider of accounts payable (AP) invoice automation solutions in the cloud. The MediusFlow and Ascendo Invoice solutions automate and simplify the entire accounts payable process, enabling an unprecedented level of truly touchless invoice processing, shortened lead times, greater control, and improved visibility of financial metrics. The company has over 2,000 customers worldwide processing in excess of 52 million invoices annually, with a high density in the retail and manufacturing sectors.

Medius was founded in 2001 and is owned by the global investment firm Marlin Equity Partners. It has over 220 employees working from offices in Sweden (HQ), the United States, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit