This year, Litium is celebrating ten years as a product company and has during this time evolved from a simple and flexible e-commerce solution to having a full-fledged platform and an extensive partner network. Recently, they also moved into their new offices in the old tram sheds, Spårvagnshallarna. Therefore, they invited their partners to a grand event to celebrate all their successes and also reveal a paradigm shift in how their platform and business model will look from now on.
Several important milestones
Litium's CEO, Patrik Settlin, talked about how the company originally started as a consulting firm but became a pure product company in 2013 after a divestiture. When the journey began, there was a relatively small team and a partner network in place, but they had lots of experience in digital commerce and implementing e-commerce solutions. They used these experiences as a foundation for an accelerator, where best practices from previous projects contributed to making new implementations faster and more efficient.
Just three years later, the company went public on the Stockholm Stock Exchange, and in 2020, Litium was introduced on the Nasdaq stock exchange. This allowed the company to attract new capital and accelerate its development and expansion. Last year, they acquired their first American customer, and Patrik believes this provides a "proof of concept" – evidence that their platform and approach work outside of the Nordic region.
Flexibility and customer focus
Patrik continued to reflect on what will remain true even in ten years. These are the things that Litium primarily focuses on because they will continue to drive the company's success.
Patrik mentioned three points that guide Litium's future work:
- Digital commerce is growing and will continue to grow in the next ten years.
- Flexibility will continue to be the best way to address uncertainty.
- Customers will want to get high value from their investments.
Based on this, Patrik stated that Litium will continue to prioritize flexibility when building and developing its platform. At the same time, the company's fundamental philosophy is to help customers outperform their peers in digital commerce. Therefore, the business is very much about creating opportunities and staying at the forefront to deliver the best possible e-commerce platform to all customers, regardless of location, size, or business model.
Paradigm shift in Litium Commerce Cloud
The event also highlighted the paradigm shift that Litium has been working on for a long time. Starting in October, they will offer their platform both headless and serverless.
Litium headless
Litium's headless approach means that all content is distributed via APIs. This means you don't need to create unique content for delivery to IoT devices, websites, and mobile apps, for example. It is also quick and easy to make adjustments to the interface without the need for content changes, and vice versa. Litium headless makes it easier to manage your e-commerce solution and allows for quick scalability, enabling efficient work with a multi- or omni-channel strategy.
Litium serverless cloud
With Litium serverless cloud, end customers and partners no longer need to manage server space, infrastructure, or plan for increased load during campaigns. All such aspects are now handled by Litium, ensuring that capacity, transmission, and maintenance always meet customer needs at any given moment. This increases both scalability and flexibility in the daily operations of customers.
They have also created Litium Insights, which provides all relevant business data in a single interface, and Litium app cloud, which enables the creation of apps to manage various types of solutions. For customers and partners, this means increased flexibility and scalability, while interface management with end customers becomes faster and more efficient.
Litium insights
Although Litium and its customers have a lot of data related to e-commerce, this data has often been distributed in several different places. Litium Insights now collects both technical and financial data in one place. This enables both troubleshooting issues as they arise and proactive work on the development of the e-commerce solution. Customers and partners now have real-time insights that provide a comprehensive view of their operations. Simply put, it's an efficient tool for developing the business without the need for guesswork.
Litium app cloud
By making the platform both headless and serverless, there are now significant opportunities for customers and partners to create solutions for their unique challenges. This is done through Litium app cloud, where both public and private apps can be created and managed. Litium will develop a range of apps for several products in its commerce cloud, but partners will also be able to create their own apps to easily and effectively create solutions for their customers. With Litium app cloud, the possibility of building flexible solutions increases, with easier upgrades without compromising efficiency or security.
In conclusion, Patrik thanked all customers, partners, and other stakeholders for these first ten years, which have brought many successes and positioned Litium very well for continued positive development.
For those who want to learn more, please feel free to contact us at curious@litium.com.