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DocuWare Says Strong Financial Results Due to AI Investments, Acquisitions, and Increased Demand

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DocuWare, a provider of document management and workflow automation solutions, and which was acquired by Ricoh in 2019, reported continued global growth in both customer numbers and financial revenues for its fiscal-year 2023 that ended on March 31, 2024.

Overall Growth and Continued Cloud Adoption

DocuWare reported 17 percent year-over-year global revenue growth for the year, driven by significant demand for cloud-based solutions, reflected by 31 percent growth in cloud-based revenue. The company says it continues to offer parity between cloud and on-premises versions, with small and steady revenue growth here too.

DocuWare also reported a surge in new customer adoption, with 3,000 new customers worldwide over the past year. Of these, 85 percent of new customers opted for cloud solutions, indicating a growing demand for the accessibility, flexibility, and scalability of a cloud-based enterprise content management (ECM) system that provides security and compliance standards. The company now serves a global customer base of 19,000 customers that use cloud, on-premises, or hybrid deployments.

In a joint statement, DocuWare Presidents Dr Michael Berger and Max Ertl commented, “Our FY23 results, clearly demonstrate the growing value of ECM solutions like ours on the global business stage. We are proud of the strong global presence we have established, and that our growth continues in an upward direction. With technology investments and AI at the forefront of our long-term plans, we are looking forward to an even stronger year ahead.”

Strong Regional Performance

With DocuWare solutions deployed in over 100 countries, the company experienced significant growth in multiple regions. Notable regional highlights include: 

  • In the DACH region (Germany, Austria, and Switzerland), DocuWare acquired 1,046 new customers, contributing to 39 percent of the company’s total sales. DocuWare now boasts a total of 9,000 customers in this region.
  • North America onboarded 518 new customers for DocuWare, contributing to 29 percent of the company’s total sales. DocuWare now has a total of 4,500 customers in this region.
  • Other significant growth regions for DocuWare include 334 new customers in Spain, 300 in France, and 95 in the UK and Ireland.

Strategic Technology Investment

DocuWare says it prioritizes giving its customers the most advanced solutions. As part of this, it recently acquired software startup natif.ai, a leader in Artificial Intelligence (AI) for Intelligent Document Processing, enabling DocuWare to integrate cutting-edge AI technology into its offerings.

More information on DocuWare offerings is available here. 

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