Quadient announced today its continued presence among the top 10 software vendors in France. The recognition comes from the esteemed Truffle 100 ranking, compiled by Truffle Capital and teknowlogy group|CXP-PAC, in which Quadient has consistently secured its place at the top for seven consecutive years based on the reported software sales revenues of participating companies.
The accompanying report to the Truffle 100 ranking serves as an industry barometer, shedding light on trends and the current state of the software sector in France. When software publishers were asked about the key technological trends expected to impact the market in 2023, cloud computing, cybersecurity, artificial intelligence (AI) and customer experience emerged as significant factors. Additionally, among the non-technology trends highlighted, invoice dematerialization and corporate social responsibility (CSR) stood out. These trends closely align with Quadient's core business focus. Since the launch of its Back to Growth strategic plan in 2019, the company has been dedicated to investing in the transition from a software licensing model to a cloud and Software-as-a-Service (SaaS) model. Quadient Hub, its unified SaaS software platform, today serves as a centralized access point for all Quadient Intelligent Communication Automation (ICA) cloud solutions, catering to customer communications management (CCM) and financial process automation.
Quadient's rank in the prestigious Truffle 100 Top 10 aligns with the distinctions it has earned from independent industry experts. Notably, Quadient was recently recognized as a Leader in the Quadrant Knowledge Solutions’ 2023 SPARK Matrix report for its cloud-based CCM solution. Additionally, Quadient AR, the company’s cloud-based accounts receivable automation solution, was recognized for the first time in the 2023 GartnerÒ Magic QuadrantÔ for Integrated Invoice-to-Cash Applications.
In France, the 2020 Finance Act will be enforced in 2024, making e-invoicing mandatory for every company. Quadient's solutions for digitizing document management processes, particularly invoices, will play a vital role in assisting businesses of all sizes as they prepare for the various deadlines stipulated by the regulation.
"We take great pride in maintaining our position among the top ranks of the Truffle 100 as one of France's leading software players. We see our continued presence among the top software vendors in France as a validation of our strategic choices, further reinforcing our commitment to prioritizing cloud migration, data security, AI and customer experience as integral components of our software strategy," said Geoffrey Godet, CEO of Quadient. "Quadient also shares a strong alignment with the primary non-technological trends identified by the other vendors, namely CSR and dematerialization. These crucial areas are shaping our company's future, particularly as we assist numerous businesses in their transition towards the digitization of invoices and processes. With a robust CSR policy established over a decade ago, we continue to forge ahead, driven by our unwavering dedication to addressing the environmental and societal challenges that our company encounters across all the countries in which we operate."
In 2022, Quadient generated a total software revenue of 260 million euros, with 227 million euros specifically attributed to the ICA business, which experienced an organic growth of 6.3%. Notably, subscription-related revenues showed organic growth of 18.5%, representing a significant increase. These subscription revenues now contribute to 80% of ICA sales in 2022, a significant surge from the previous year's 67% result.