Continued Expansion Of Its Software-as-a-Service (SaaS) Business Model Drives Growth
M-Files Corporation, the intelligent information management company, today announced that strong cloud adoption accelerated its subscription-based annual recurring revenue (ARR) in 2019 by more than 100 percent over 2018. The company’s primary SaaS document management software solution, M-Files Online, is a hybrid intelligent information management platform that allows customers to implement both cloud and on-premises solutions without having to separately purchase licenses for each.
“As we accelerated our transition to a SaaS and cloud-based business model in 2019, customers and partners reaped the benefits of our innovative licensing options that enable M-Files Online customers to become instantly cloud-ready and able to leverage the cloud in a phased and targeted manner as they see fit,” said Antti Nivala, CEO at M-Files. “Last year we also introduced innovative new solution enhancements and integrations to provide customers with direct access to enterprise data stored in a variety of external repositories and line of business applications, all from their preferred user interface.”
Customer and Partner Growth
M-Files added nearly 1,300 new customers in 2019 across its global footprint, including enterprises in professional services, manufacturing, financial services, and energy, among other industries.
M-Files also strengthened its global network of partners around the world with specialised expertise in key use cases, vertical industries, and systems integration. In 2019, a technology partnership with Konica Minolta drove successful projects across 14 European countries, which inspired an expanded alliance in 2020 to bring intelligent information management to the entire European market.
New Add-ins for Microsoft Teams, SharePoint Online, and Outlook
Last year, M-Files announced enhancements to its Microsoft Office 365 solution, enabling seamless integration within the familiar user interfaces of Microsoft Teams, SharePoint Online, and Outlook. The solution provides easy access to out-of-the-box document management, compliance and governance features via the user interface where users work most throughout the day.
New Solution Enhancements and Integrations
Additionally, the company introduced its M-Files for Google G Suite solution, which offers easy collaboration and enhanced security and compliance in a single package, seamlessly connecting G Suite applications with other business systems and repositories. Furthermore, M-Files unveiled a new Salesforce integration that enables access to documents and enterprise data either in the cloud or on-premises, all from the familiar Salesforce user interface.
Achievements and Advancements
In 2019, M-Files achieved SOC 2 Compliance, which certifies the company’s adherence to strict information policies and practices that ensure the security and confidentiality of customer data stored in the cloud. Last year, M-Files also heightened its artificial intelligence (AI) and machine learning capabilities with enhancements to the Smart Classifier and the launch of M-Files Discovery. Smart Classifier automates document classification, and M-Files Discovery helps detect, categorise and manage documents with Personally Identifiable Information (PII) or other types of sensitive information.
Global Investment and Recognition
In 2019, the company was recognised for its innovative approach to information management, including being named a Visionary in the Gartner 2019 Magic Quadrant for Content Services Platforms (CSP) the Leader in the Nucleus Research ECM Technology Value Matrix, and the Top-Rated Enterprise Content Management Software by TrustRadius, based on end-user reviews and ratings. Additionally, M-Files was recognised by the European Investment Bank (EIB) as one of the most innovative tech companies in Europe and cited for its continued focus on driving innovation in information management.