xSuite Group Enjoys Positive Business Development in 2021

Growing trend toward digitalization and the cloud key to driving business – Big international names among Group’s new clients

AHRENSBURG, Germany--()--The 2021 financial year saw xSuite Group continue on its trajectory of growth, achieving sales of EUR 40 million and maintaining high profitability. The Group's cloud business, in particular, enjoyed very strong growth. Staff numbers also went up, with the Group recording a total of 230 employees as of December 31, 2021. xSuite’s positive overall result was achieved also thanks to its subsidiaries in Denmark, the Netherlands, Singapore, Slovakia, Spain, and the US, which contributed significantly to the company’s success. The number of client projects at xSuite grew again in 2021 – by 6 percent on the previous year. Among the Group’s new clients are US automotive supplier and medical technology manufacturer Gentherm Inc., as well as US shoe manufacturer Crocs Inc.

xSuite is a global software manufacturer specializing in the automation of document-based business processes in SAP, in particular the automation of incoming invoice processing. Supplementary to this, the Group also offers solutions for related areas such as procurement processes. Within these areas, xSuite provides companies with expert support and advice to help them implement their digitalization strategies. Around the world, some 200,000 users across more than 1,200 companies and organizations work with xSuite solutions, together processing over 60 million invoices per year.

Despite the global supply bottlenecks that last year affected the manufacturing and automotive sectors (among others), and despite the associated innovative reticence seen in so many companies, xSuite was able to report positive business development for 2021. “Demonstrating a progressive readiness to digitalize commercial business processes is key to remaining viable as a company,” explains CEO Matthias Lemenkühler, “We therefore certainly had our work cut out for us last financial year.”

With more and more AP processes set to be transferred to the cloud (e.g., the SAP Business Technology Platform), xSuite Group has been following a cloud-first strategy, gearing its product development activities accordingly and incorporating artificial intelligence into its products. Over the medium term, more and more SAP user companies are set to switch to the new SAP S/4HANA product generation and, as a result, to move to the cloud. Offering SAP certifications for all its solutions, xSuite allows its clients to choose their preferred cloud model; it also offers software for SAP's various deployment models, even for clients still working with the on-premises operating model. xSuite is currently working on numerous extensions and enhancements for 2022, which are set to affect not only invoice processing and delivery bills, but also the Business Partner Portal. This portal, which runs on the SAP Business Technology Platform, maps the entire procure-to-pay process with suppliers.

About xSuite Group

Founded in 1994, xSuite is a software manufacturer of applications for document-based processes. xSuite provides enterprises across the globe with standardized, digital solutions, making work simple, secure and fast. xSuite's products provide digital document management, automation of important work processes, and efficiency in the use of e-files. Around 1,200 customers in more than 60 countries have come to rely on xSuite solutions.

xSuite's core competence is accounts payable (AP) automation in SAP, for mid-sized to large corporations, as well as for public clients. Other solutions automate procurement and sales order processing, or optimize file management and archiving. The solutions are available on-premises, cloud-based or hybrid, with standard processes from the cloud — incoming mail, data extraction, and archiving — supplementing locally installed applications. The Managed Services team supports customers using SAP-integrated xSuite solutions. xSuite Group is an SAP Silver Partner.

Headquartered in Ahrensburg, Germany, xSuite employs 230 employees at eight locations in Europe, Asia and the U.S.A. In 2021, the company generated total sales of €40 million.

Contacts

Barbara Wirtz
xSuite Group GmbH
Marketing and PR
Phone +49 4102 88 38 36
barbara.wirtz@xsuite.com
www.xsuite.com

Contacts

Barbara Wirtz
xSuite Group GmbH
Marketing and PR
Phone +49 4102 88 38 36
barbara.wirtz@xsuite.com
www.xsuite.com