xSuite Group with Strong Revenue Growth and an Expanding Customer-Base
Software manufacturer turns into a successful transformation towards cloud and subscription models.
Ahrensburg, Germany, March 28, 2023 --(PR.com)-- Software manufacturer xSuite Group continued its growth course in fiscal year 2022, generating total global sales of over €43 million. This was due in particular to revenue generated in the SaaS business area, which increased by 250 percent year-on-year. As a result, xSuite has made great progress on its strategic path towards becoming a cloud company in 2022. To keep the momentum going in 2023, a new offering model for companies was developed to make all solutions available as a subscription service going forward. The portfolio includes basic packages and a premium tier with advanced features available for xSuite's AP and procurement solutions.
After an already very successful 2021, xSuite was able to accelerate new customer acquisition even further in 2022. In the German-speaking region, xSuite recorded a 62 percent increase in new customers won in 2022 compared to the previous year. This year, growth via partners was 33 percent higher than the previous year and 66 percent respectively internationally. Overall, business generated with new customers grew 48 percent at xSuite year-on-year in 2022. The cloud strategy turned out a complete success: 80 percent of customers opted for cloud solutions or a subscription model instead of the traditional license purchase.
Against the backdrop of its rapidly growing business activities in the DACH region and beyond, xSuite successfully obtained ISO/IEC 27001 certification at the turn of the year 2022/23. The certificate attests that the xSuite product development meets the information security requirements defined in ISO 27001. Today, international customers in particular demand proof of compliance with objective quality criteria before they award their contracts.
The manufacturer headed into fiscal year 2023 with a new software release and a product portfolio comprising basic and premium packages that will simplify licensing for customers. The workflows of the new xSuite Business Solutions version 5.2.9 are now fully executable in SAP Fiori, and the release has been certified for SAP S/4HANA 2022.
“Our main focus last year was to bring cloud-first even further to the fore as the operating model of the future,” explains xSuite Group CEO Matthias Lemenkühler. “The above-average growth rates of our SaaS business prove that we have succeeded in this. We are entering the new year with this momentum and will be moving more business processes to the cloud, such as SAP Business Technology Platform.” Despite this shift, xSuite is not losing sight of its existing on-premises customers: Thanks to consistent SAP certifications across the entire portfolio, xSuite leaves it up to its customers to pick their preferred deployment model by supporting SAP’s various models – including on-premises.
About xSuite Group
xSuite Group is a software manufacturer specializing in document management applications and known for its deep expertise in AP automation within SAP. xSuite develops standardized digital solutions that accelerate and simplify workflows for its clients across the globe. Each year, the company’s solutions process over 80 million documents, providing security and ease of use to more than 300,000 users in mid-sized to large enterprises and public institutions.
Applications for procurement, order processing and archiving supplement xSuite’s portfolio of sophisticated solutions. xSuite software runs in cloud, hybrid, or on-premises environments. And customers can come to xSuite for all services (consulting, implementation, training, support, managed services) and xSuite solution components (data capture, workflow management, archiving).
As an SAP partner, xSuite regularly undergoes SAP assessment of its solutions for a variety of SAP deployment models. The resulting certifications are a further testament to the high quality of xSuite products and services.
Founded in 1994 and headquartered in Ahrensburg, Germany, xSuite employs 230 employees across eight locations around the world (in Europe, Asia, and the United States). The company recorded total sales of over €43 million in 2022.
After an already very successful 2021, xSuite was able to accelerate new customer acquisition even further in 2022. In the German-speaking region, xSuite recorded a 62 percent increase in new customers won in 2022 compared to the previous year. This year, growth via partners was 33 percent higher than the previous year and 66 percent respectively internationally. Overall, business generated with new customers grew 48 percent at xSuite year-on-year in 2022. The cloud strategy turned out a complete success: 80 percent of customers opted for cloud solutions or a subscription model instead of the traditional license purchase.
Against the backdrop of its rapidly growing business activities in the DACH region and beyond, xSuite successfully obtained ISO/IEC 27001 certification at the turn of the year 2022/23. The certificate attests that the xSuite product development meets the information security requirements defined in ISO 27001. Today, international customers in particular demand proof of compliance with objective quality criteria before they award their contracts.
The manufacturer headed into fiscal year 2023 with a new software release and a product portfolio comprising basic and premium packages that will simplify licensing for customers. The workflows of the new xSuite Business Solutions version 5.2.9 are now fully executable in SAP Fiori, and the release has been certified for SAP S/4HANA 2022.
“Our main focus last year was to bring cloud-first even further to the fore as the operating model of the future,” explains xSuite Group CEO Matthias Lemenkühler. “The above-average growth rates of our SaaS business prove that we have succeeded in this. We are entering the new year with this momentum and will be moving more business processes to the cloud, such as SAP Business Technology Platform.” Despite this shift, xSuite is not losing sight of its existing on-premises customers: Thanks to consistent SAP certifications across the entire portfolio, xSuite leaves it up to its customers to pick their preferred deployment model by supporting SAP’s various models – including on-premises.
About xSuite Group
xSuite Group is a software manufacturer specializing in document management applications and known for its deep expertise in AP automation within SAP. xSuite develops standardized digital solutions that accelerate and simplify workflows for its clients across the globe. Each year, the company’s solutions process over 80 million documents, providing security and ease of use to more than 300,000 users in mid-sized to large enterprises and public institutions.
Applications for procurement, order processing and archiving supplement xSuite’s portfolio of sophisticated solutions. xSuite software runs in cloud, hybrid, or on-premises environments. And customers can come to xSuite for all services (consulting, implementation, training, support, managed services) and xSuite solution components (data capture, workflow management, archiving).
As an SAP partner, xSuite regularly undergoes SAP assessment of its solutions for a variety of SAP deployment models. The resulting certifications are a further testament to the high quality of xSuite products and services.
Founded in 1994 and headquartered in Ahrensburg, Germany, xSuite employs 230 employees across eight locations around the world (in Europe, Asia, and the United States). The company recorded total sales of over €43 million in 2022.
Contact
xSuite Group
Danny Schaarmann
+1 (617) 800-0980
www.xsuite.com
Danny Schaarmann
+1 (617) 800-0980
www.xsuite.com
Contact
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