Growth and innovation summarize Medius’ 2016
3 February 2017
2016 was another great year for Medius with a focus on growth, product innovation, and delivery excellence.
- Sales success: Customer base grew by 21% and new Annualized Contract Value (ACV) by 30%.
- Product innovation: New capabilities include unique AP invoice automation benchmarks, an interactive customer feedback tool and a next generation mobile solution.
- Cloud delivery: 99.5% of all new business is cloud-based.
- Delivery excellence: Shortened average implementation time as a result of an improved best practice approach and enhanced ERP integration packages.
- Recurring revenue accounted for 65% of total revenue.
Growth“2016 was another successful year for Medius. We increased the ACV stock by 30% to 180 MSEK (21 MUSD) and welcome many new customers such as Marc Jacobs, Cineplex Entertainment, Ready Pac, Bilia, Coop Mitt & Väst, de Persgroep, Harald A Moller, Saint-Gobain and Eton,” says Per Åkerberg, CEO at Medius. “We have seen extraordinary results for our SMB solution, Medius Ascendo, which grew its ACV business by more than 50%. In addition, we have also won several new large customers in North America which have generated a significant ACV growth,” concludes Per Åkerberg.
During 2016 Medius launched a number of product innovations including benchmarking capabilities, a next generation mobile solution, an interactive customer feedback tool and improved ERP integrations.
“Because MediusFlow is a true cloud solution we are able to present unique benchmark figures based on real life business processes,” says Per Åkerberg. “Our customers get powerful analytics tools that allow them to track different KPIs, compare against benchmarks, identify and remove bottlenecks, thereby improving the AP invoice process performance,” concludes Per Åkerberg.
During the year Medius has also put a lot of effort into taking implementation to the next level including an improved best practice approach and new packaged ERP-integrations.
“I am very impressed by the steps we have taken when it comes to delivery excellence and implementation times. Not only have we shortened the implementation times, we are also able to offer powerful matching capabilities in the Cloud which increase the touchless ratio for our customers,” says Per Åkerberg. “Our benchmarks show that our average customer has a level of automation of about 70% whilst the leaders have well above 90%,” continues Per Åkerberg. “An example is Marc Jacobs which went live in three weeks, has 93% automation and reached positive ROI in less than six months,” concludes Per Åkerberg.
For more information, please contact:
- Per Åkerberg, CEO, Medius AB, email@example.com
- Fredrik André, Global Marketing Director, Medius AB, +46 (0)709 23 93 81, firstname.lastname@example.org