Medius

Established in Sweden in 2001 by founders Mikael Svensson and Per Nordling, Medius has carved a significant niche in the financial technology sector by providing cloud-based accounts payable (AP) automation software. The founders' background in software development and ERP systems provided the foundational expertise for the company, which was named 'Medius,' Latin for 'mediator,' to reflect its role as a translator between business and IT. The company's trajectory includes its acquisition by Marlin Equity Partners in August 2017 and a subsequent investment from Advent International in March 2022.

Medius delivers a comprehensive suite of spend management solutions designed to automate and streamline the entire source-to-pay lifecycle for mid-sized to large enterprises. The company primarily serves product-based industries with high invoice volumes, such as manufacturing, retail, logistics, and construction. Its business model is subscription-based, offering tiered packages like Professional, Enterprise, and Premium, which provide varying levels of access to its platform and features. Revenue is generated through these recurring subscriptions, supplemented by one-off implementation fees for services like workshops, configuration, and training.

The core of Medius's offering is its AP automation platform, which leverages artificial intelligence and machine learning to manage invoice capture, processing, and payment. Key features include automated data capture from invoices, intelligent coding suggestions based on historical data, and touchless matching of invoices to purchase orders. The platform is designed to de-risk spending by using anomaly detection to identify potential fraud or duplicate payments. Additional modules cover procurement, expense management, sourcing, contract management, and supplier onboarding, providing a holistic approach to spend control. The system supports multiple currencies and integrates with existing ERP systems, enhancing financial control and visibility for its global clientele of over 4,000 customers.

Keywords: accounts payable automation, spend management, invoice processing, source-to-pay, procurement software, financial automation, AP automation, payment automation, fraud detection, contract management, supplier management, expense management, cloud software, B2B payments, ERP integration, financial technology, procure-to-pay, invoice automation, SaaS, cost control, supplier relationship management, spend analysis