- Cloud transformation
- Divested our ERP consulting business, Medius Dynamics AB
- Per Åkerberg stepped in as the new CEO
- 16% growth in the number of customers and 31% growth in ACV
- Recurring revenue is 57% of total revenue (47% 2014) – a good step towards the long-term target of 70%
“2015 is a testament to the success of the strategy we adopted in 2014. We combine a true cloud-based solution and powerful matching functionality in a way no other supplier on the market can. In Sweden, Ascendo Invoice, our solution for small businesses, has also performed very well and broken new sales records,” says Per Åkerberg, CEO of Medius.
In addition to an increase in the sales of Medius cloud-based solutions, the number of invoices processed in the cloud has increased by a whopping 600% in 2015. Medius’ largest cloud customer now processes over one million invoices annually.
To better reflect its business model, Medius changed its revenue recognition policy in late 2014. Medius went from the classic software model, where the majority of revenue is recognized upon sale, to a cloud-centered subscription policy where revenue is recognized evenly distributed over the entire contract term.
“Not only has Medius launched leading cloud-based solutions, but it has also adopted a cloud-centered revenue recognition policy. As a result, we have shifted SEK 134 million (USD 17 million) of revenue from pre-2015 into the future. Shifting so much revenue to the future will naturally impact short-term profits, but the advantages of aligning revenue recognition with our business model outweigh the short-term financial effects,” concludes Per Åkerberg, CEO of Medius.
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
Medius is a leading provider of AP invoice automation solutions in the cloud. The solutions MediusFlow and Ascendo automate and simplify the entire P2P process. The company has 1,700 customers worldwide processing 45 million invoices annually, 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, the United States, Malaysia and Australia. www.mediusflow.com.