Medius (Wax Digital), a leading provider of spend management solutions, has been positioned by Gartner in the Visionaries quadrant of the Gartner October 2020 Magic Quadrant for Procure-to-Pay (P2P) Suites.1
The spend management specialists believe this significant achievement is down to their strong integration capabilities, best-in-class customer service, but also, because of the modern technology powering Medius solutions.
Per Åkerberg, CEO at Medius, said: “We’re delighted to be recognized in Gartner’s Magic Quadrant for Procure-to-Pay Suites. We think being placed as a Visionary clearly demonstrates that Medius’ strategy to continuously gather and implement on customer feedback is paying off.”
Åkerberg added: “But also we believe investing in our integration technology has helped our customers consolidate our best-of-breed spend management solutions with their back-office systems quickly and efficiently.”
Medius’ solutions are built from the ground up with modern technology, allowing the spend management provider to rapidly develop and deploy innovative features based on customer feedback. They believe this has been essential to its success.
Daniel Saraste, SVP Product Strategy of Innovation said: “We’ve listened very carefully to our customers’ needs as we develop our spend management suite. As such, we spent a great deal of time investing in our support for direct material procurement and invoice processing.”
Saraste added: “We believe this is what our customers need, and as such, we think we’ve delivered a solution that enables best-in-class efficiency and control throughout the spend management journey supporting procurement and finance teams alike.”
Åkerberg is upbeat about Medius’ future, even as the world grapples with the COVID-19 pandemic. He said: “To us, to be placed in the Gartner Magic Quadrant, as the world struggles with coronavirus, is a significant acknowledgement - and I couldn’t be prouder of my team. He added: “But, I think it also sends a clear message to our customers and prospects. We will continue to prioritize their needs with innovative and customer-centric solutions. Medius remains a great place to do business.”
 Gartner, “[Magic Quadrant for Procure-to-Pay Suites],” [Kaitlynn Sommers, Micky Keck, William McNeill, Tim Faith)], [19th October 2020].
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Medius is a leading global provider of cloud-based spend management solutions, helping organizations drive their business forward by enabling best-in-class process efficiency, cost saving opportunities and greater financial control. Our modular spend management suite includes market leading solutions for strategic sourcing, contract management, procurement, accounts payable automation and supplier management as well as data insights tools bringing control, compliance and cost savings throughout the entire source-to-pay process. Thanks to an easy cloud deployment, intuitive user interface and built-in best practices our customers experience tangible savings right from the start as well as long term ROI success. With Medius, spend is simply managed. Over 3,500 customers and 450,000 unique users worldwide use Medius spend management solutions, managing transactions worth more than $150 billion annually.
Founded in 2001, Medius is owned by the global investment firm Marlin Equity Partners. In 2019 Medius acquired Wax Digital to become the powerhouse in spend management solutions. The group has over 350 employees and offices in Sweden (HQ), the United States, United Kingdom, Australia, Denmark, Norway, the Netherlands, and Poland. For more information, please visit mediusflow.com.https://www.mediusflow.com/en/about/news/2020/gartner-magic-quadrant