Medius

Medius is a Swedish accounts payable (AP) automation platform that governs the entire process of capturing and recording data from invoices, payment approvals and compliance, making payments (Medius Pay), and offering insights on expenses. It also provides “three-way matching” to identify and rectify discrepancies in invoices, purchase orders, and receivables. Medius Pay offers a dashboard for business users to make domestic and international payments, through several means including cards, ACH, and checks. 

In addition to standard AP solutions, Medius provides sourcing, contract management, and supplier management solutions, to simplify sourcing, gain better visibility on existing contracts, and improve vendor relationships. Medius can be integrated with several third-party ERP and accounting softwares, including Microsoft Dynamics, SAP, Oracle NetSuite, and Infor.

Medius operates through a subscription-based business model, with charges ranging from USD 2,499 to USD 19,999. Monthly subscription rates vary based on several features including ancillary solutions included (such as Medius Supplier Management), number of users, and power users. 

The company expanded its business expense management offerings by acquiring Expensya in June 2023 (completed in July) a business expense card and non-card expense management solutions provider, for an undisclosed sum. Expensya catered to more than 6,000 customers and had over 700,000 active users across 100+ countries, at the time of acquisition. 

It has also taken part in acquisitions to boost its AP automation business. In March 2022, it acquired US-based AP automation platform OnPay Solutions to integrate payment processing solutions, enhance customers’ operational efficiency, and improve Medius’ fraud prevention capabilities. At the time of acquisition, OnPay had around 400 enterprise customers and operated a network of about 360,000 vendors and 40 different banking integrations. Prior to this, Medius acquired British end-to-end AP automation platform Wax Digital in November 2019.   

In November 2023, Medius announced its plan to launch an AI-driven agent for automating accounts payable processes. This tool streamlines invoice approvals by offering contextual information and proactive prompts.

Key customers and partnerships

Medius has a network of partners, including referral (players that identify prospects and introduce them to Medius) and technology (those that design solutions that integrate and extend the Medius platform) partners. As of November 2022, its technology partners included Pagero, Rydoo , Cashbook, Nomentia, and TransferMate. In October 2023 , Medius partnered with Caatalyst, a recovery audit service provider, to give users access to cash recovery audit and purchase-to-payment AP automation and fraud detection services.

In January 2024, Medius formed partnerships to enhance its procurement application integrations. It partnered with Launchpad Technologies, utilizing Launchpad's cloud-based iPaaS platform for standardized system integrations. Additionally, Medius partnered with Antaras , a Gold Channel Partner, to integrate InforLN’s ERP solutions for the manufacturing sector into Medius’ AP solutions, aiming to automate workflows. Medius formed a partnership with SourceDay, a supply chain collaboration platform ( April 2024 ) to optimize the Procure-to-Pay (P2P) cycle for manufacturers and distributors, and with Open ECX, an e-trading and finance automation software firm to provide an end-to-end automation solution for improved operational efficiency and compliance measures ( May 2024 ).

Medius has customers spanning several industries, including transport, manufacturing, retail, food and beverages, construction, and healthcare and included multiple global enterprises such as Nissan, Ceva Logistics, Puma, Polaris, and Virgin Atlantic.