Quadient has announced that the company has crossed over the 10,000 software customer threshold for the first time.
Quadient rapidly expanded its software customer base in the first half of 2021 with more than 1,200 net new customers of its cloud-based Intelligent Communication Automation (ICA) suite of solutions. The commercial momentum in the first half of the year was particularly strong with nearly 20% growth for subscription-related revenues, and with an even stronger customer demand for Quadient’s software-as-a-Service (SaaS) accounts payable (AP) and accounts receivable (AR) automation solutions, which enjoyed an organic growth of around 70% in the same period.
“Today, we are seeing more and more customers looking to deliver their communications using cloud-based technologies. This milestone is validation that Quadient is in a unique position to help small, medium and large organizations across the world to intelligently automate their communications and financial processes, thanks to the commitment of the Quadient teams and in particular of the 1,200 talented people from our ICA organization,” said Geoffrey Godet, chief executive officer, Quadient. “As we celebrate the two-year anniversary of changing our name and unifying under a single brand, this breakthrough landmark demonstrates Quadient’s transformation into a major cloud software provider.”
Quadient’s ICA solutions power more than 1 billion customer-facing communications and interactions every day. The company’s software customers span a wide range of industries, including large organizations in the bank, insurance and utilities markets as well as financial teams in small and medium businesses. Among diverse usages and benefits, companies currently use Quadient solutions to help send customers credit reports in their preferred language, or as select hotels within the Radisson Hotel Group Americas, to simplify their AP workflows.
Part of these newly acquired customers come from the company’s successful cross-sell and upsell approach fostered through the implementation of commercial synergies between its software and mail-related solutions sales channels. Additionally, a key factor in the commercial growth of Quadient’s ICA solutions is its partnerships with best-in-class technology providers. In the recent months, Quadient has announced new partnerships with key organizations, including UiPath, a global leader in Robotic Process Automation, and Sage, an international leader in cloud-based business management solutions, whose Marketplace now offers Quadient’s AR automation solution.
Earlier this year, Quadient shared during a Capital Markets Day its strategy of expanding its SaaS and subscription customer base, calling for shifting its software business model from license to SaaS. The share of SaaS subscription customers increased from 65% at the end of 2020 to 70% by the end of the first half of 2021. Quadient is the only company with a leading cloud-based suite of solutions that brings together customer communications management, customer journey mapping, document automation, AR and AP. The convergence of these business functions continue to drive Quadient’s software strategy.