What Wax Digital does

Wax Digital is a UK-based eProcurement and Source-to-Pay software provider founded in 2001, headquartered in Hyde, United Kingdom, now operating under the Medius brand. Its website (https://www.medius.com) redirects to the Medius platform, indicating Wax Digital has been integrated into the broader Medius Source-to-Pay suite, with Wax Digital historically positioning itself as the UK's No.1 eProcurement provider for mid and large-sized organisations.

The combined Medius/Wax Digital platform delivers a cloud-based Source-to-Pay suite spanning AP Automation, e-Procurement, Sourcing (eAuction/eTender), Contract Management, Supplier Onboarding, Payments, Spend Analytics, and Expense Management (via the acquired Expensya product). The technology stack is built around AI-powered invoice capture, machine-learning-based fraud and anomaly detection, conversational AI assistants (Medius Copilot), and agentic AI workflows for autonomous supplier communication (Supplier Conversations). The platform integrates with 100+ ERP systems via pre-packaged connectors covering SAP, Oracle, Microsoft Dynamics, NetSuite, Infor, and others, with documented 97% auto-match rates on invoice lines and 95% precision after two invoices.

The business model is enterprise SaaS subscription with annual or multi-year contract terms, augmented by professional services for implementation (typical 8-12 week go-live), premium support tiers, and an Elevate Advisory Program. Go-to-market combines direct enterprise field sales with a partner ecosystem managed through Channeltivity, technology integrations (DocuSign, SourceDay), and content-led demand generation. The firm serves 3,000+ customers across North America, Europe, and Asia-Pacific, with primary segments being large enterprises and mid-market organisations in manufacturing, transport and logistics, retail, construction, food and beverage, healthcare, and consumer packaged goods. The Wax Digital subsidiary itself operates with 51-100 employees.

Name

Wax Digital

Legal name

Medius

Website

https://medius.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Short description

Wax Digital, now operating within the Medius platform, provides AI-powered cloud-based Source-to-Pay and eProcurement software to mid and large organisations globally, serving 3,000+ customers across multiple industries.

Ownership category

akta.pro rank

Headquarters

HQ city

Hyde

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Subscription-based SaaS Revenue: Cloud-based accounts payable automation and spend management platform delivered as subscription software, typically with annual or multi-year contract terms. Includes professional services for implementation and rapid deployment.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Wax Digital (now operating as Medius) delivers cloud-based Source-to-Pay software covering the full procurement lifecycle from strategic sourcing and contract management through e-procurement, accounts payable automation, expense management, and supplier payments. The platform uses AI/ML and agentic AI workflows to automate invoice capture, three-way matching, fraud detection, supplier communications, and approval routing for mid and large-sized organisations globally.

Product overview

Medius is a cloud-based Source to Pay platform providing a comprehensive suite of spend management solutions. The core platform includes Medius Accounts Payable Automation (cloud-based AP automation using AI for invoice capture, processing, and payment), Medius Procurement (e-procurement for purchasing control), Medius Payments (automated supplier payments via ACH, check, and card), Medius Sourcing (strategic sourcing with eAuction and eTender), and Medius Contract Management (cloud contract repository with DocuSign integration). Additional modules include Medius Supplier Conversations (AI-powered supplier communication), Medius Fraud & Risk Detection (ML-based fraud prevention), Medius Copilot (conversational AI for approvers), Medius Analytics (spend analytics dashboards), and Medius Supplier Onboarding (vendor data management). The unified Source to Pay platform covers the complete procurement lifecycle from sourcing through contract management to AP automation and payments. MediusGo is a sub-brand targeting SMBs with modular solutions for Visma, Pyramid, Fortnox, and other Nordic ERP systems. The platform integrates with 100+ ERP systems via MediusConnect pre-built connectors.

Differentiator

Problem solved

Functional benefit

Brands

• Medius Copilot: AI assistant for invoice approval and AP workflow automation
• MediusGo
• MediusPay
• Supplier Conversations
• Medius Elevate
• Expensya
• Accounts Deceivable

Products and services

• Medius Accounts Payable Automation Cloud-based AP automation platform using AI to capture, process, and pay invoices autonomously, covering invoice receipt through payment with touchless processing, 2-way and 3-way matching, and ERP integration for finance teams.
• Medius Procurement E-procurement solution that enables purchasing control with supplier management, automated tasks, approval chains, and spend visibility across the organisation for procurement teams.
• Medius Payments Payment automation platform that streamlines supplier payments via ACH, check, and card methods with a single automated process and fraud controls for finance teams.
• Medius Sourcing Strategic sourcing software with eAuction and eTender capabilities for running comprehensive sourcing events to identify and negotiate with the best suppliers for procurement teams.
• Medius Contract Management Cloud-based contract repository for managing supplier agreements with visibility and control, including integration with DocuSign for electronic signatures for legal and procurement teams.
• Medius Supplier Onboarding Vendor data management solution with performance measurement and collaboration tools for reducing supplier risk and boosting performance for procurement teams.
• Medius Supplier Conversations AI-powered supplier communication tool using generative AI and agentic workflows to automatically respond to supplier invoice and payment status inquiries for AP teams.
• Medius Fraud & Risk Detection AI-powered fraud detection using machine learning to verify invoices and suppliers, proactively detecting and preventing fraudulent activity across the AP lifecycle for finance teams.
• Medius Copilot AI assistant using conversational AI grounded in company data to answer approver questions automatically for accurate and timely invoice decisions for finance teams.
• Medius Analytics Spend analytics dashboards and reporting providing real-time visibility into spending, cash flow, and financial forecasting across the Source to Pay process for finance teams.
• Expense Management (Expensya) Expense capture and management solution using AI for automatic expense report population, policy enforcement, and audit-ready compliance for finance and travel teams.
• Source to Pay (Full Suite) Unified Source to Pay platform covering the complete procurement lifecycle from sourcing and contract management through procurement and AP automation to payments for enterprise organisations.
• Purchase to Pay (P2P) Integrated P2P solution covering purchase requests, approval workflows, purchase orders, goods receipt, invoice processing, and payment for mid-market and enterprise customers.
• Source to Contract S2C platform covering strategic sourcing, supplier selection, contract negotiation, and contract management for procurement and legal teams.
• MediusConnect Integration platform providing pre-packaged connectors for 100+ ERP systems including SAP, Oracle, Microsoft Dynamics, NetSuite, and Infor.
• MediusGo SMB-focused solution with modules for AP automation (MediusGo Capture), expense management (MediusGo Expense), e-invoicing, PO matching, contracts (MediusGo Contract), and Spend Maximize, available for Visma, Pyramid, Fortnox, Hansa World, Microsoft Dynamics 365 Business Central, and Garp ERP systems in Nordic markets.
• Elevate Advisory Services Expert advisory services pairing customers with subject matter experts for AP optimisation, adoption, and compliance improvement.

Quantifiable outcome

• 97% auto-match rate on invoice lines
• +5 more outcomes

Named customers18 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

AI capability11 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core and strategic.

• SourceDaycoreTechnology or IntegrationTechnology partnership for supply chain collaboration. SourceDay integration enhances supplier communication and order management within the Medius Source-to-Pay platform.
• DocuSigncoreTechnology or IntegrationDocuSign integration with Medius Contract Management enables seamless electronic signature for supplier agreements, eliminating paper-based contracts and automating signature workflows.
• Spend MattersstrategicGTM or Marketing PartnerStrategic content and thought leadership partnership through the 'Bridging the GAAP' podcast series. Medius executives appear alongside Spend Matters analysts discussing procurement technology, e-invoicing, fraud, and payment topics.
• Channeltivity Partner PlatformcoreChannel Partner/ Reseller/ DistributorPartner relationship management platform for managing referral partners, technology partners, and cloud/reseller partners with dedicated partner finder and portal access.

Scale indicators5 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Basware: Nordic-headquartered AP automation and procurement platform competing directly against Medius across mid and large enterprises in Europe, with a strong invoice-processing and e-invoicing network focus.
• Coupa Software: Private (Thoma Bravo) business spend management platform covering procurement, AP, expense, and supplier management. Closest direct peer to Medius in mid-to-large enterprise Source-to-Pay, with comparable AI and analytics emphasis.
• Tradeshift: Cloud-based procurement, AP, and supply chain finance platform. Competes with Medius on invoice automation, supplier connectivity, and global e-invoicing compliance for mid-market and enterprise customers.
• Tipalti: Global payables automation platform covering supplier onboarding, invoice capture, approvals, payments, and reconciliation. Directly comparable to Medius in mid-market AP and global supplier payments.
• Jaggaer: Source-to-pay provider covering sourcing, contract management, supplier management, and AP. Comparable to Medius in mid-to-large enterprise targeting, with overlapping direct and indirect sales channels.

Emerging players

• Procurify: Mid-market AP and procurement platform. Comparable to MediusGo in targeting growing companies with purchasing, expense, and AP workflows, though typically focused on smaller customers than core Medius.
• Airbase: Spend management platform combining AP automation, expense, and corporate cards. Overlaps with Medius's Expensya-driven expense and MediusPay card offerings and is often benchmarked against mid-market AP suites.
• Ramp: AI-driven corporate cards, expense, and AP automation platform. Comparable to Medius on expense management and increasingly on autonomous AP, with a younger, more SMB-skewed customer base.

Broad incumbents

• Oracle Fusion Cloud Procurement: Native Oracle Cloud procurement and payables suite often evaluated alongside Medius, particularly for Oracle ERP customers. Bundled into a broader Oracle Cloud Applications portfolio and competes via integration depth.
• SAP Ariba: SAP's flagship procurement and AP suite, serving large enterprises globally with sourcing, contract management, and invoice automation. Most direct competitor in enterprise Source-to-Pay and the dominant bundled ERP procurement offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/playlist?list=PLWQfsqJ7YQrbAL-EcHF4g2RU1KgeL7qwO
• LinkedInlinkedin.com/company/wax-digital
• Xx.com/waxdigital
• Facebookfacebook.com/waxdigital

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wax Digital