Medius grows AP invoice automation business 30 %

February 27, 2015  |  Adoption, Europe, Invoice Automation, North America

2014 was a great year for Medius in their ambition to become the world’s leading supplier of cloud-based AP invoice automation solutions. Over 30% growth with a significant portion of that generated by their cloud service puts them in line with the targets set up for 2014.

The customer base for AP invoice automation grew by a significant 19 %, based on total number of customer contracts. The biggest growth was on the US market and within the Ascendo business unit, Medius’ solution for the SME market in Sweden.

Mikael Lindblom, CEO at Medius:
“Medius is today a leading cloud solution provider. We are determined to become the number one in cloud-based AP invoice automation and we are well under way. Additionally, in early 2015 we also sold our ERP consulting business, Medius Dynamics AB, to be able to fully focus on being the true AP invoice automations experts.”

Anders Fohlin, CFO at Medius:
“The structural measures we put in place in early 2014 are paying off. The 67 mSEK top-line growth gives us a solid bottom-line. Our cloud business model is now tangible. In 2015, we will improve the reporting of how our subscription business is building recurring revenue streams over time. This will also reflect the true value of our large customer base.”

Pontus Björnsson, Executive VP at Medius:
“It is great to see how well customers have received the latest version of MediusFlow, both on mature markets like Scandinavia and other markets like the US. I am also pleased to see how well the solution fits both mid-sized customers starting from 10’s of thousand invoices and scales all the way up to large organizations with millions of invoices.”

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