Stockholm Feb 26, 2015
2014 was a great year for Medius. We have sharpened our focus to become the world’s leading supplier of cloud-based AP invoice automation solutions. Over 30% top-line growth with a significant portion of that generated by our cloud service puts us well in line with the ambitious targets set up for 2014.
“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”, says Mikael Lindblom, CEO at Medius.
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.
“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”, says Anders Fohlin, CFO at Medius.
Our latest generation of MediusFlow, our cloud based solution for AP invoice automation first launched in 2013, has been very well received by the market. Sales have exceeded expected volumes. We have established a new Cloud Operation Team and a Global Service Center to make sure our customers get world class support, benefit from the latest technology and get the highest level of security possible. In addition we have invested a lot in an updated version of Ascendo Invoice, where one of the highlights, when launched mid-2015, will be a completely new user interface.
“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”, says Pontus Björnsson, Executive VP at Medius.
As part of the transformation into a cloud company, Medius is changing its accounting principles for better alignment with the cloud business model. This will affect the results for 2014 and 2013. Financial bridges between our old and new accounting policies will be disclosed in Medius’ Annual Report for 2014. Financial quotations above reflect results before change of accounting policy.
- Mikael Lindblom, CEO, Medius Group, +46 (0)733 50 74 59, email@example.com
- Fredrik André, Global Marketing Director, Medius Group, +46 (0)709 23 93 81, firstname.lastname@example.org
Medius is a leading provider of AP invoice automation solutions in the cloud. The solutions MediusFlow and Ascendo automates and simplifies the entire P2P process. The company has 1,300 customers worldwide, with high density in Retail, Manufacturing and Services. Founded in 2001, Medius now has 200 employees working out of offices in Sweden (HQ), Norway, Denmark, Poland, the Netherlands, United States, Malaysia and Australia.