Medius positioned as a Leader in IDC MarketScape report
STOCKHOLM, 2 February 2021
Medius, a leading provider of cloud-based spend management solutions, today announces that it has been named a ‘Leader’ in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation Applications for Midmarket 2020–2021 Vendor Assessment (doc # US47032620, December 2020).
The IDC MarketScape report highlights Medius’ ability to automate the entire AP invoice process from receipt to payment, providing their customers with complete control of cash, cost, and compliance. Further, the report notes that, with its cloud-native architecture, Medius drives continuous improvement in both system and process performance using machine learning and big data techniques.
"The ground underneath the feet of today's AP professional is rapidly shifting to digital. Software vendors that prioritize features that provide enhanced visibility, flexibility, and agility in these uncertain times will find themselves well positioned for future growth," says Kevin Permenter, research manager, Enterprise Applications at IDC.
Daniel Saraste, SVP Product Strategy and Innovation at Medius comments on the award: “We’re proud to be recognized as a Leader by the IDC MarketScape report. Our team is passionate about driving success for our 3,500 cloud-customers worldwide and this formal recognition from the IDC MarketScape spurs us to continue innovating and making our customers’ lives better every day.”
In the report, the authors evaluate eleven cloud-based AP vendors in the market using a set of criteria, including product functionality, range of services, customer satisfaction, innovation, and growth. The report concludes that companies should consider Medius when looking for an AP solution with extensive automation and integration capabilities.
SOURCE: IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Payable Automation Applications for Midmarket 2020–2021 Vendor Assessment, December 2020, IDC #US47032620e
For more information, please contact:
- Thomas Müllertz, CMO, firstname.lastname@example.org
- Daniel Saraste, SVP Product Strategy and Innovation, email@example.com
Medius is a leading global provider of cloud-based spend management solutions, helping organizations drive their business forward by enabling best-in-class process efficiency, cost saving opportunities and greater financial control.
Over 3,500 customers and 450,000 unique users worldwide use Medius spend management solutions, managing transactions worth more than $150 billion annually.
Medius was founded in 2001 and acquired procurement solution provider Wax Digital in 2019. Today, the company has over 400 employees and offices in Sweden (HQ), the United States, United Kingdom, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit Medius.com.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.