Beacon, NY (June 18, 2024) – DocuWare, a leading provider of document management and workflow automation solutions, demonstrated continued global growth in both customer numbers and revenues in FY23. The company releases its financial results and states the reasons behind a key strategic acquisition in fiscal year 2023.
Overall growth and continued cloud adoption
DocuWare experienced an impressive 17 percent global revenue growth in FY23. This was driven by significant demand for cloud-based solutions, reflected in a 31 percent growth in Cloud revenue. The company continues to offer feature parity between cloud and on-premises versions, and it continues to see a small and steady revenue growth here too.
The company has reported a surge in new customer adoption, with 3,000 new customers worldwide over the past financial year. Of these, 85 percent of new customers opted for cloud solutions, indicating a growing demand for the accessibility, flexibility and scalability of a cloud-based ECM that meets best-in-class security and compliance standards. The company now serves a global customer base of 19,000 customers who use cloud, on-premises or hybrid deployments.
In a joint statement, DocuWare presidents, Dr Michael Berger and Max Ertl commented, “Our FY23 results, clearly demonstrate the growing value of ECM solutions like ours on the global business stage. We are proud of the strong global presence we have established, and that our growth continues in an upward direction. With technology investments and AI at the forefront of our long-term plans, we are looking forward to an even stronger year ahead.”
Strong regional performance
With DocuWare solutions deployed in over 100 countries, the company experienced significant growth in multiple regions. Notable regional highlights include:
- DACH region (Germany, Austria, and Switzerland) acquired 1,046 new customers, contributing to 39% of the company’s total sales. DocuWare now boasts a total of 9,000 customers in the region.
- North America onboarded 518 new customers, contributing to 29% of the company’s total sales. DocuWare now has a total of 4500 customers in the region.
- Other significant growth regions include 334 new customers in Spain, 300 in France, and 95 in the UK/Ireland.
Strategic technology investment
DocuWare prioritises providing its customers with the most advanced solutions. Underlining this commitment, the company recently acquired software startup natif.ai, a leader in artificial intelligence (AI) for Intelligent Document Processing. This acquisition allows DocuWare to integrate cutting-edge AI technology into its offerings, empowering its customers to achieve greater results for their business.
Dr. Berger continued, “We are a company built on innovation, and our continued investment in research and cutting-edge technologies, improves our product and makes it the best-in-class solution for our customers.”
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About DocuWare
DocuWare is a leading provider of document management and workflow automation solutions. Together with its 800+ strong partner network, DocuWare has helped approximately 19,000 customers across 100+ countries simplify their work through digitizing, automating and transforming key processes. DocuWare’s corporate headquarters are in Germering, Germany. The US office is based in New York. The company maintains office locations in Paris, Barcelona, Sofia, Bulgaria; Reading, UK and Brisbane, Australia.
