M-Files claims that Cloud adoption accelerated its subscription-based annual recurring revenue (ARR) in 2019 by more than 100 per cent over 2018.
For those who came in late the company’s primary SaaS solution, M-Files Online, is a hybrid information management platform that allows customers to implement cloud and on-premises solutions without having to separately purchase licenses.
M-Files CEO Antti Nivala said that as the outfit moved to an SaaS and cloud-based business model in 2019, customers and partners reaped the benefits of its innovative licensing options that enable M-Files Online customers to become instantly cloud-ready and able to usethe 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.”
M-Files said it 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.
