M-Files, a prominent player and global leader in the field of information management, recently announced impressive financial achievements for 2022.
The company experienced significant growth with a 33% increase in subscription revenue and a remarkable 40% surge in new customer sales compared to the previous year.
M-Files maintained its dominance in the small and medium-sized business (SMB) market while also delivering substantial value to the enterprise market. Notably, the average size of new customer deals grew by an impressive 60% year-over-year.
M-Files’ partner ecosystem includes strategic alliances, global systems integrators (GSIs), and premier and authorised partners, which are a critical component of its go-to-market strategy.
To support its fast-growing partner program, in 2022 M-Files also increased the number of certified delivery partners by 84 per cent, certified solution engineers by 79 per cent, certified developers by 90 per cent, and certified solution architects by 56 per cent.
With its heightened investment in partner enablement, the company will host a global partner conference in May 2023 and has launched a new podcast series designed to help partners implement customer success programs within their own organisations.
Antti Nivala, founder and chief executive officer (CEO), M-Files, said, “2022 was a record-setting year for M-Files where we reached the highest ever annual recurring revenue (ARR) growth in Western Europe, secured our largest customer win in the professional services industry, and attained the most new customers ever,”
“These achievements are a testament to our ability to deliver high-impact solutions that position us as a strategic partner for information management challenges,”
“We look forward to continuing to serve knowledge workers by providing innovative platform enhancements that deliver superior customer experiences and drive higher-quality work with lower risk,” said Nivala
Commitment to innovating the M-Files document management platform
In 2022, M-Files made significant strides in enhancing its platform, focusing on key areas such as mobility, accessibility, content collaboration, decision-making, and above all, delivering an exceptional user experience.
The updates included advancements in information layering, improved navigation, and heightened readability, ensuring users can easily access and interact with their content.
M-Files’ product innovations and proprietary artificial intelligence (AI) capabilities were also recognised in awards programs, with the company being included in the 2022 KMWorld AI 50 list, named a winner in the Business Intelligence Group’s Artificial Intelligence Excellence Awards, and M-Files’ intelligence service, Smart Migration, being named a finalist in the 2022 CRN Tech Innovator Awards.
Additionally, the company recently expanded its offering with next-generation no-code document automation capabilities through its acquisition of Ment in February 2023, enabling legal professionals to generate complex data-driven documents more quickly and consistently. Law firms and in-house legal departments are benefiting from M-Files Ment.
Niina Koponen, head of legal partner care, Tietoevry, said, “The automation of the standard contractual clause (SCC) modules has greatly contributed to enhanced contractual compliance and generated time savings for lawyers as they support their most critical cases,”
M-Files Ment empowers our end users to feel secure in creating and signing these new agreements in a self-service manner,” said Koponen
M-Files amplifies it’s partnership with Microsoft
In 2022, M-Files took its partnership with Microsoft to new heights by introducing M-Files subscription offerings in the Microsoft Azure marketplace. The strategic move allows customers to conveniently order M-Files subscriptions directly through the Azure marketplace and align their M-Files subscription with their Microsoft Azure consumption commitment (MACC).
By seamlessly integrating with Microsoft tools, M-Files empowers organizations to maximize their investments in Microsoft 365 by offering enhanced capabilities for managing business processes and ensuring information governance.
With M-Files, Microsoft 365 becomes the central hub for accessing and managing all enterprise data, regardless of where it is stored, through familiar Microsoft 365 user interfaces.
Notable joint customers leveraging both M-Files and Microsoft Azure cloud include Wärtsilä, OMV, Crowe, and VDA. In the second quarter of 2023, M-Files has plans to unveil additional product launches that complement the Microsoft offering.
Continued recognition as an industry leader across analyst and award organisations
M-Files’ innovations have been praised across the analyst community, with M-Files recently being recognised as a Gartner Peer Insights Customers Choice for Content Services Platforms, with 100 per cent of Gartner Peer Insights respondents recommending M-Files as a CSP over the past 12 months, as of March 6, 2023.
In addition, M-Files was recognised by TrustRadius with a 2022 Best Feature Set and a 2022 Best Relationship Award in document management.
M-Files’ accolades span beyond the analyst community and was honoured as a Grand Trophy Winner in:
- The 2nd Annual Globee® Disruptor Company Awards
- A silver winner in the Company of the Year – B-to-B category of the Best in Biz Awards 2022
- A Bronze Stevie® Award winner in the Most Innovative Tech Company of the Year (up to 2,500 employees) category of the American Business Awards®.
- A Gold Globee® Winner in the information technology cloud/software as a service category in the 2022 Golden Bridge Business and Innovation Awards
Business Intelligence Group’s BIG Awards for Business also named M-Files as a winner in the Company of the Year category and M-Files’ founder and CEO, Antti Nivala, a winner in the Executive of the Year category for the second consecutive year.
Customers are sharing the benefits of the M-Files platform to optimise document management and improve how they do business in the digital, work-from-anywhere world.
Wealth management firm Bridges Trust realised a 90 per cent reduction in document search time.
Alex Siefert, applications manager, Bridges Trust, said, “In my experience having to search the older system, it could take 10 to 20 minutes to find a single document (especially if you’ve had to search within documents for the specific information).
“So, being able to reduce that time from 10 to 20 minutes to one or two minutes max…is a huge win on our side.” he said.
