DocuWare Group revenues climb
February 7, 2020
The Group’s revenues climbed to €54.8 million ($60.05 million) in 2019 thanks to DocuWare Cloud.
DocuWare, provider of cloud solutions for document management and workflow automation, announced its 2019 global results. The company achieved €54.8 million ($60.05 million) in total revenue, an overall growth of 17% over 2018. Most notable contributor within this revenue increase is the expansion in cloud customers which has risen by 71% year-on-year and now accounts for €13.4 million ($14.68 million) of total 2019 revenues.
DocuWare said that in a year of leadership transition and ownership changes, the company’s outstanding success is attributable to DocuWare’s thriving partner network as well as the strategy to operate as an independent subsidiary of Ricoh Company, Ltd.
“DocuWare is built on the success of our partners. When they succeed, we all succeed. Our strategy is to remain an independent company and brand within the Ricoh family, enabling our full partner ecosystem to confidently sell our software. Our record-setting year proves this strategy is working, and our relationship with partners has never been stronger,” stated Max Ertl, President DocuWare Group.
DocuWare Cloud continues to move the needle on the company’s growth, with 60% of new customers choosing this option and driving the number of cloud-based customers to approximately 3,000, an increase of 5% year-on-year.
Dr. Michael Berger, President DocuWare Group, noted: “DocuWare versions 7.1 and 7.2, both released in 2019, enhanced key features for our preconfigured cloud solutions, and increased the performance and stability of cloud and on-premises systems.” A global customer retention rate of 94% in 2019 is further evidence that users embrace their DocuWare solution.
Berger and Ertl agree that the 2019 successes could not have happened without tremendous commitment from the company‘s employees: “There is no way we could have achieved these results without the great people who work for DocuWare,” Berger concluded.
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