M-Files has announced that strong cloud adoption accelerated its subscription-based annual recurring revenue (ARR) in 2019 by more than 100 per cent over 2018.
The company's primary SaaS solution, M-Files Online, is a hybrid intelligent information management platform that allows customers to implement both cloud and on-premises solutions without having to separately purchase licenses for each.
M-Files added nearly 1,300 new customers in 2019 across its global footprint, including enterprises in professional services, manufacturing, financial services, and energy, among other industries.
Antti Nivala, CEO at M-Files said, "as we accelerated our transition to a SaaS and cloud-based business model in 2019, customers and partners reaped the benefits of our innovative licensing options that enable M-Files Online customers to become instantly cloud-ready and able to leverage the cloud in a phased and targeted manner as they see fit. Last year we also introduced innovative new solution enhancements and integrations to provide customers with direct access to enterprise data stored in a variety of external repositories and line of business applications, all from their preferred user interface."
Last year, M-Files announced enhancements to its Microsoft Office 365 solution, enabling seamless integration within the familiar user interfaces of Microsoft Teams, SharePoint Online, and Outlook. The solution provides easy access to out-of-the-box document management, compliance and governance features via the user interface where users work most throughout the day.
Additionally, the company introduced its M-Files for Google G Suite solution, which offers easy collaboration and enhanced security and compliance in a single package, seamlessly connecting G Suite applications with other business systems and repositories. Furthermore, M-Files unveiled a new Salesforce integration that enables access to documents and enterprise data either in the cloud or on-premises, all from the familiar Salesforce user interface.
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