DocuWare has released its 2018 Financial Results. The company achieved 46.6 million euro in total revenue, with continued growth in the cloud business.
DocuWare’s 2018 results showed consistentdemand for cloud-based document management and workflow applications, with the strongest growth in new customers coming from small to mid-sized businesses.
On a worldwide basis, 2018 cloud revenues increased by 92 percent. The company added 1,700 new customers in the year, of which nearly 50 percent selected DocuWare Cloud. At the end of 2018, DocuWare had nearly 2,000 cloud customers comprising over 100,000 individual users.
Spurred by the release of DocuWare version 7, financial highlights include:
- Cloud revenue of 7.8 million EUR, up 92 percent
- Total cloud customer growth of 53 percent
- Total cloud users count is up +100 percent
- A 95 percent customer retention rate
As DocuWare’s cloud customers grow, so too does the number of archived documents per customer. By the end of 2018, documents stored in the company’s cloud had increased by 124 percent.
Technological improvements played a major role in the 2018 results. DocuWare is a purpose-built platform and its capabilities were enhanced in DocuWare version 7. In 2018, the entire platform was optimized for performance, scalability and stability to support the growth in customers, users and archived documents.
The user interface was also improved, resulting in 50 percent faster searches; 35 percent faster archiving and 75 percent faster data indexing. This focus on customer experience ranks DocuWare high for any organization searching for affordable, user-friendly document management solutions.
“Our flexible cloud and cloud hybrid offerings, strong sales network of Authorized DocuWare Partners and technological innovations driven by our own knowledge and incorporating valuable customer feedback, have contributed to the positive results enjoyed by the company in 2018,” stated DocuWare co-presidents Dr. Michael Berger and Max Ertl.
Other salient points from the 2018 results include:
- The introduction of two preconfigured cloud solutions to address invoice processing and employee management earned the company 178 of its 1,700 new customers
- The average number of users per customer grew by 37 percent globally
- DocuWare subsidiaries in Europe, Middle East and Asia (EMEA) accounted for 56.2% of total revenue and DocuWare subsidiaries in the Americas accounted for 43.8% of total revenues
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