Visma Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Visma Strengths, Domain Expertise, and Key Differentiators

Visma’s strength lies in its rapid development in technology and its deep knowledge which comes from its local presence and understanding of the market. It has grown exponentially over the years; it now has over 200 local offices on an international basis. Acquisitions have been a key part of its strategy. It has invested in local market leaders and specialists, making sure that local expertise is intact as it expands operations globally.

Visma Software provides specialized software and Cloud-based services within Enterprise Resource Planning (ERP), Invoicing, Project Management, BI, Customer Relationship Management (CRM), Human Resource Management (HRM), payroll and a range of tailor-made solutions for small business customers. However, the products and services offered vary by region.

Visma Recent Developments

As the landscape of technology continues to evolve at an unprecedented pace, Visma is at the forefront of leveraging cutting-edge advancements to enhance its product offerings.

One noteworthy example of this transformative technology in action is the development of a new API support bot by Visma Dinero in Denmark. This innovative bot has already proven its mettle by successfully handling over 50 percent of all incoming customer support requests, showcasing its efficacy in streamlining customer interactions and improving overall service efficiency.

The integration of generative AI into Visma's product ecosystem is poised to yield significant benefits, particularly in software development and customer support. By automating repetitive tasks and streamlining workflows, Visma is not only enhancing the user experience but also empowering its internal teams to focus on high-value activities.

As Visma continues to harness the full potential of AI-driven solutions, customers can expect to see further enhancements that elevate their experience and drive tangible business outcomes. With generative AI as a cornerstone of its innovation strategy, Visma is paving the way for a future where intelligent automation is not just a possibility but a reality.

During a global pandemic and recession, Visma demonstrated its ability to provide mission-critical software that keeps society running. This was evident in the increased demand for cloud solutions, accelerating growth from new customers, and strong cloud acquisition targets choosing to join the Visma family. Visma had a record acquisition pace in 2020, acquiring 37 companies. CarbonLink Oy, founded by software company Visma Finland and atmospheric scientists at the University of Helsinki, is building the first real-time carbon footprint calculator for organisations. This exceptional cooperation will result in the release of a cloud-based service which calculates an organisation's CO2 emissions based on financial data in real-time.

Visma is a minority shareholder of CarbonLink and will provide the service produced by the new company under the name “Visma Green” next year. Effective climate actions start by surveying and understanding the carbon footprint. It has become a major competitive factor, as many organisations have made CO2 emissions a key business measure alongside revenue.

Meat Digital and Trollweb, both part of the Visma group, merged to form Visma Digital Commerce. The merger strengthens Visma's focus on e-commerce solutions in the Nordic market and provides customers with a wider range of services.

Visma Mergers and Acquisitions (M&A) Activities

In a bid to spearhead growth and innovation in the ever-evolving landscape of software solutions, Visma has been on a relentless acquisition spree in 2023. With a strategic vision to expand its portfolio and bolster its position as a global leader in the industry, Visma has successfully acquired a total of 24 software companies to date. This concerted effort underscores the company's unwavering commitment to leveraging mergers and acquisitions (M&A) as a pivotal driver of growth and innovation within the Group.

Through strategic acquisitions, the company aims to tap into new markets, harness emerging technologies, and cater to the evolving needs of its diverse clientele. By integrating cutting-edge solutions from acquired companies, Visma seeks to empower businesses across various sectors with innovative tools and technologies that drive efficiency, productivity, and success.

The pace and scale of Visma's acquisition activity in 2023 highlight the Group's proactive approach to expansion and market penetration. By strategically identifying and integrating complementary businesses into its ecosystem, Visma is poised to unlock new opportunities, accelerate growth, and strengthen its position as a global powerhouse in the software industry.

Each acquisition made by Visma in 2023 represents a strategic investment aimed at augmenting the Group's capabilities, expanding its geographical footprint, and enhancing its overall value proposition. From bolstering its presence in key markets to diversifying its product offerings, Visma's acquisition strategy is carefully crafted to drive sustainable growth and deliver exceptional value to its customers and stakeholders.

In a bold move to solidify its position as a global leader in the software and technology industry, Visma made headlines in 2022 by investing a record amount in new acquisitions. With a clear focus on growth and expansion, the company embarked on an ambitious journey, welcoming a total of 42 companies across 8 countries.

The scale and scope of Visma's acquisition spree in 2022 are unprecedented, signaling its determination to leverage strategic partnerships and synergies to drive innovation and deliver value to its customers. Through these acquisitions, Visma has not only expanded its portfolio but also strengthened its position across key markets and industries.

Among the notable acquisitions made by Visma in 2022 are, EnviDan Selvkost, BokaMera, ActuIT, Smartpage, mySupply, Two-Many, Appical and many others.

Visma Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Visma applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Visma and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Visma.net ERP, Visma Tripletex, Poweroffice, Visma eAccounting, Visma Netvisor, Visma e-conomic and Dinero customers.

Visma Key Enterprise and Cloud Applications

Visma.net ERP, Visma Tripletex, Poweroffice, Visma eAccounting, Visma Netvisor, Visma e-conomic and Dinero

Visma Revenues, $M:

Visma Revenue Breakdown By Type, $M:

Visma Enterprise Applications Revenues By Functional Markets, $M:

Visma Enterprise Applications Revenues By Verticals, $M:

Visma Revenues By Region, $M

Visma Direct vs Indirect sales

Visma Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Visma Customers

No. of Visma Customers: 1700000

No. of Visma Enterprise Applications Customers: 1700000

No. of Visma Cloud Customers: x

No. of Visma Cloud Subscribers: x

Visma has over 1,5 million customers across the Nordics, Benelux, Central and Eastern Europe, and Latin America.

Among Visma customers are: Amedia, DFDS A/S, Elektrobit oy, Farveringen AS, Jernia Detalj AS, JN Data A/S, JULA, Wallenstam, Wittusen & Jensen and many others.

Visma Market Opportunities, M&A and Geo Expansions

Visma continues to expand its reach with the recent acquisition of Flex Applications, a leading provider of HRM software solutions. The acquisition marks a strategic move for Visma, further solidifying its position as a powerhouse in the Nordic region and beyond.

The company specializes in delivering cutting-edge software for personnel administration, catering to large and mid-sized private companies across Sweden, Norway, Denmark, and Finland.

For Flex Applications, joining forces with Visma represents a strategic decision aimed at laying the groundwork for future growth and development. CEO Björn Jareblad highlighted Visma's deep understanding of the industry and its reputation as a stable and long-term-focused player as key factors in the decision to align with Visma. Flex Applications will continue to operate independently, retaining its name and management structure.

With more businesses seeing the benefits of SaaS software, demand for cloud computing and mobile solutions keeps growing. Visma has invested heavily in its SaaS products since 2010. Revenues from Cloud Computing grew to 1.2 billion dollars and were 75 % of total revenue. The cloud solutionsof Visma Tripletex, Poweroffice, Visma eAccounting, Visma Netvisor, Visma e-conomic and Dinero all had between 20 and 40 % growth. They continue to take considerable market share and are expected to grow further in 2020 at the same pace.

Visma Risks and Challenges

Visma pursued an aggressive acquisition strategy in 2020, acquiring 37 companies. Integration of the latest acquisitions and multiple product suites under one umbrella will be a challenge for Visma.

While Visma has 5000 developers building solutions, not all solutions were/are developed organically. Some come from acquisitions, but Visma also offers partner products. For example, it private labels Acumatica's ERP solution. Products and services offered vary by region. Therefore it is important to understand which products and categories of products are offered to you locally.

Visma Ecosystem, Partners, Resellers and SI

In June 2022, Visma, a prominent player in the software industry, unveiled a strategic agreement to divest its IT consulting business, formerly housed under Visma Custom Solutions, to CVC Capital Partners Fund VIII. After months of anticipation, the transaction has been successfully finalized, marking a significant milestone for both Visma and the newly formed entity, now known as "twoday."

The decision to divest the IT consulting business stems from a strategic rationale aimed at unlocking growth potential for both Visma and twoday as separate entities. Unlike Visma's core focus on Software as a Service (SaaS) and standardized products, the bespoke nature of IT consulting aligns more closely with twoday's vision and mission. By carving out this segment of its business, Visma aims to streamline its operations and sharpen its strategic focus on its core offerings.

With over 1,5 million customers across the Nordics, Benelux, Central and Eastern Europe, and Latin America most of Visma's growth comes from acquisition. While it does have partners (like Acumatica), it is more likely to acquire local companies and may refer to these acquired companies in the context of expanding its ecosystem, but acquired products tend to expand Visma's solution portfolio.

In May 2020 Visma strengthens its offering of HR cloud solutions in Latin America by acquiring Zetech, leading provider of digital signature and document management solutions. The key acquisition adds nearly 1 000 new customers and 1 million users across 5 countries in the region, including Argentina, Chile, Peru, Mexico and Uruguay.

Visma has approximately 100 offices throughout Norway, Sweden, Denmark, Finland, the Netherlands, the United Kingdom, Ireland, Lithuania, Romania and Latvia. In addition, the company has 1,100 resellers and distribution through partners in several European countries.

Visma Cloud Infrastructure Insights

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• Visma Public Cloud and Infrastructure (IaaS)
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• Visma Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: