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Overview

Headquartered in Ahrensburg, Germany, xSuite specialises in software applications for Accounts Payable Invoice Automation, which enable customers to digitalise, streamline and automate invoice processing, helping them to reduce costs, drive efficiencies and improve quality.

With over 290 employees in Germany, Denmark, the Netherlands, Singapore, Slovakia, Spain and the US, xSuite develops additional workflows and integration capabilities specific to the SAP ecosystem.

With our international network of experts, we are supporting xSuite to build on its emerging presence in the US market and scale its North American operations. In addition, we are partnering with management to accelerate the transition to more subscription software revenues as well as leveraging commercial best-practices recently implemented across our other portfolio companies. The company enjoys high customer satisfaction given its industry-leading technological capabilities and strong service levels.  

How we add value 

We are supporting xSuite's growth, mostly recently through the acquisition of Tangro, a highly comparable peer of xSuite that also focuses on Accounts Payable Automation Software in the SAP ecosystem.

We are also supporting the company in growing its presence in the US where it has won several blue-chip clients such as Dole, Lionsgate and Crocs and is scaling rapidly. The accounts payable invoice automation ("APIA") market is growing with forecasts of +10% CAGR driven by the digitisation of workflows and a focus on reducing labour costs. 

Finally, future growth will be driven by increasing invoice volumes, adoption of automation solutions, expansion in the use cases of these solutions and the transition to specialist applications. 

Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.