Quadient’s Cloud-based Software Business Experiences Strong Adoption with Growth in New Customers and Usage
More than 800 net new software customers added in third quarter
Momentum driven by strong adoption of communication automation software as well as AP/AR solutions
Quadient, a leader in helping businesses create meaningful customer connections through digital and physical channels, shared today that its Intelligent Communication Automation cloud-based software solutions business gained more than 2,000 net new customers in the first nine months of the year, 800 of which were added in the third quarter alone. This milestone marks an acceleration in new customer gains compared to the year’s first two quarters, with an average represented 13 new software contracts each business day of the third fiscal quarter ended on October 30, 2021.
Quadient’s most recent software solutions adopters span a variety of industries, including utilities, such as European companies N-ERGIE and Enel, financial services companies like Santander and Investec, and insurance company Zurich. In addition, more and more small and medium businesses are also adopting Quadient’s hybrid mail and process automation solutions. Out of the new software customers from the third quarter, 180 of them selected Quadient’s financial automation solutions, Beanworks by Quadient for Accounts Payable (AP) and YayPay by Quadient for Accounts Receivable (AR), as businesses increasingly automate their financial processes.
Quadient also experienced increased usage of its software-as-a-service (SaaS) solutions. Communications sent via Quadient Impress, a document automation solution, and the volume of processed payments with Quadient’s AP and AR solutions resulted in a combined growth of more than 26% in platform usage in the third quarter of 2021, compared to the second quarter.
And continuing the execution of its Back to Growth strategy, Quadient experiences an acceleration in the shift of its software model from license to SaaS, resulting in more than a 20% increase in subscription-related revenue with the new software contracts secured in the first nine months of 2021.
“I’m proud of our team and thankful to our growing base of software customers and partners who trust us to automate their communications and enhance the experience for their customers,” said Geoffrey Godet, CEO, Quadient. “We will continue to invest in our suite of cloud-based software solutions to help companies of all sizes optimize cash flow, simplify business processes, send communications to gain market share and personalize meaningful customer interactions all from one single platform.”
Thanks to the synergies implemented across the company’s sales channels, Quadient is able to directly address the digital transformation needs of its over 400,000 Mail-Related Solutions customers, who can benefit from the company’s cloud-based software solutions to modernize their processes. As evidence of this synergy, 60% of Quadient’s new software customers are also Quadient Mail-Related Solutions users. Offering a full range of solutions that help businesses manage their digitalization needs is a key differentiator that makes Quadient a strong player in its markets in comparison to peers.