DocuWare Reflects on Latest Financial Results, Boom in Cloud-Based Tech
DocuWare, a provider of document management and workflow automation solutions since 1988, discussed its latest financial results, as well as the boom in cloud-based workflow solutions.
The company, which Ricoh acquired in 2019, noted that its revenue was up over 20 percent year-over-year for parent company Ricoh’s fiscal year that ended on March 31, 2023.
The company said that demand for efficient document management solutions (DMS) has risen in recent years, as companies increasingly recognize that managing documents and information is critical. This trend is said to be clearly reflected in DocuWare’s fiscal-year report – the company’s revenue was up 21.5 percent year-over-year, and it had over 3,000 new customers over the previous year. It currently has over 800 partners.
Cloud Boom Continues
According to DocuWare, cloud-based technology has revolutionized the business world in recent years, opening up new opportunities for companies to work more efficiently and flexibly. With strong demand for cloud-based solutions and innovation, DocuWare’s cloud revenue grew by 47.4 percent year-over-year. Among its approximately 3,000 new customers, around 2,500 opted for the cloud, which reflects a global increase of 33 percent. At the end of the fiscal year, DocuWare had 8,500 cloud customers.
DocuWare President Dr. Michael Berger commented: “We have closed fiscal year 2022 very successfully both in terms of revenue and new customer growth, this year and for the past many years. These numbers clearly demonstrate that we help businesses find solutions to their needs, solve issues and maintain sustainable growth, even in crisis situations.
“We continue to work on innovative technology solutions to help them further and DocuWare will dedicate even more personnel and financial resources towards product development – we have invested an additional 15 million Euro ($16.23 million) over the next three years in order to secure our position as a leading software company facilitating digital transformation for businesses worldwide,” Berger said.
DocuWare Cloud systems are sold in 98 countries, are supported by four global data centers, and are available in 24 languages.
What’s Coming: Version 7.8
In the next few months, DocuWare will release version 7.8, which will feature various updates. More details will be provided in June. The new version is said to feature an improved user experience, and the new DocuWare App makes connecting to Microsoft Teams easier, and allows for sharing, indexing, and archiving documents within Microsoft Teams.
- August 2022: DocuWare Reports Revenue Up 24.7 Percent Year-over-Year
- July 2022: DocuWare Reports on Growth, New Customers
- October 2021: Next-Generation of DocuWare Now Available