2015, a year of growth and Cloud transformation
2015 was another excellent year for Medius. In addition to an increase in the sales of Medius Cloud-based solutions, the number of invoices processed in the Cloud went up by 600%. Medius’ largest Cloud client now processes over one million invoices annually. 2015 is a testament to the success of the strategy we adopted in 2014. We combined a true Cloud-based solution with powerful matching functionality.
Key figures 2015:
- 90% of new business in the Cloud
- 16% growth in client base
- 600% growth in invoices processed in the Cloud
- 45 million invoices in 50 countries processed in our solutions
- 31% growth in Annualized Contract Value (ACV)
- 44% growth in Total Contract Value (TCV)
- 57% of total revenue is recurring revenue
Now, as we’ve launched leading Cloud-based solutions, we’ve also adopted a Cloud-centered, subscription-based revenue recognition policy. As a result, we shifted SEK 134 million (€15 million) of revenue from pre-2015 into the future. This naturally impacts short-term profits, but the advantages of aligning revenue recognition with our business model outweigh the short-term financial effects.
Our aim is not to optimize our financials here and now, but rather to build a financially strong and solid company that will support our vision and be here for our clients long-term. Already in 2015, we increased from 47% share of recurring revenue to 57%, which is a good step towards our target of recurring revenues over 70% of total.
If you have any questions or would like any additional information you are welcome to contact our Group CFO, Anders Fohlin, email firstname.lastname@example.org or phone +46 (0)721-55 77 91.