Visma Among Apps Top 500

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

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.

In 2019, expanded it's presence in the Dutch market with the acquisitions of Roxit Group, provider of cloud software solutions for Dutch eGovernment segments in the Netherlands; Visma took over PlusPort, a market leader in cloud solutions for learning and development.

The sublabel SafetyPort was also part of the transaction; HR2day and Dotweb were added to the portfolio of Visma Group, Dotweb is a market leader in absence management and retail HR, and HR2day provides HCM solution to manage all HR processes from payroll processing to talent management.

Visma Mergers and Acquisitions (M&A) Activities

Visma had a record acquisition pace in 2020, acquiring 37 companies. Most recently, in October 2021 Visma acquired ProSaldo.net, a pioneer in cloud-based accounting and invoicing. It is the first Austrian company to join the Visma Group.

In August 2020 Visma acquired Codegarden in Norway and has expanded its offering in cloud-based tools for real estate agents. The acquisition will allow real estate customers to streamline their activities across the realty sales chain. Codegarden’s key product Meglerapp is a complete and customizable tool for real estate offices to support the field work of their agents. The solution includes regulatory requirements such as electronic signature, valuations, and signing of contracts.

In 2019, Visma acquired ProLon in Denmark. Visma's strategy is to deliver the best payroll and HRM solutions to SMB companies in the Nordics. The key ProLon products are accessible cloud-based tools for SMBs and their payroll service providers. During 2018 Visma acquired 18 companies, most of the fast-growing cloud computing companies.

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:

Type/Year	2020	2021	YoY Growth, %
Total Revenues, $M	Subscribe	Subscribe	Subscribe
Enterprise Applications Revenues, $M	Subscribe	Subscribe	Subscribe
Cloud Applications Revenues, $M	Subscribe	Subscribe	Subscribe

* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

Visma Revenue Breakdown By Type, $M:

Visma Enterprise Applications Revenues By Functional Markets, $M:

Split by Functional Markets	% of Total Revenues	2021 Enterprise Apps Revenues, By Functional Markets, $M
Analytics and BI	Subscribe	Subscribe
Collaboration	Subscribe	Subscribe
Content Management	Subscribe	Subscribe
Customer Relationship Management	Subscribe	Subscribe
eCommerce	Subscribe	Subscribe
Enterprise Performance Management	Subscribe	Subscribe
ERP Financial Management	Subscribe	Subscribe
ERP Services and Operations Management	Subscribe	Subscribe
Human Capital Management	Subscribe	Subscribe
IT Service Management	Subscribe	Subscribe
PLM/Engineering	Subscribe	Subscribe
Project Portfolio Management	Subscribe	Subscribe
Procurement	Subscribe	Subscribe
Sales Performance Management	Subscribe	Subscribe
Supply Chain Management	Subscribe	Subscribe
Treasury and Risk Management	Subscribe	Subscribe
Total	Subscribe	Subscribe

Visma Enterprise Applications Revenues By Verticals, $M:

Split by Verticals	% of Total Revenues	2021 Enterprise Apps Revenues, By Verticals, $M
Aerospace and Defense	Subscribe	Subscribe
Automotive	Subscribe	Subscribe
Banking and Financial Services	Subscribe	Subscribe
Communication	Subscribe	Subscribe
Construction and Real Estate	Subscribe	Subscribe
Consumer Packaged Goods	Subscribe	Subscribe
Distribution	Subscribe	Subscribe
Education	Subscribe	Subscribe
Government	Subscribe	Subscribe
Healthcare	Subscribe	Subscribe
Insurance	Subscribe	Subscribe
Leisure and Hospitality	Subscribe	Subscribe
Life Sciences	Subscribe	Subscribe
Manufacturing	Subscribe	Subscribe
Media	Subscribe	Subscribe
Non Profit	Subscribe	Subscribe
Oil, Gas and Chemicals	Subscribe	Subscribe
Professional Services	Subscribe	Subscribe
Retail	Subscribe	Subscribe
Transportation	Subscribe	Subscribe
Utilities	Subscribe	Subscribe
Total	Subscribe	Subscribe

Visma Revenues By Region, $M

Region	% of Total Revenues	2021 Total Revenues, $M	2021 Enterprise Applications Revenues, $M	2021 Cloud Applications Revenues, $M
Americas	Subscribe	Subscribe	Subscribe	Subscribe
EMEA	Subscribe	Subscribe	Subscribe	Subscribe
APAC	Subscribe	Subscribe	Subscribe	Subscribe
Total	Subscribe	Subscribe	Subscribe	Subscribe

Visma Direct vs Indirect sales

Region	Direct Sales	Indirect Sales	Total
Type %	Subscribe	Subscribe	Subscribe
Revenues, $M	Subscribe	Subscribe	Subscribe

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

List of Verified Visma Customers

No. of Visma Customers: 1100000

No. of Visma Enterprise Applications Customers: 1100000

No. of Visma Cloud Customers: x

No. of Visma Cloud Subscribers: x

Visma has over 1 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

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.

In August 2020 Visma took over the all-in-one accounting platform, Yuki. This is Visma's third strategic acquisition in the accountancy software market in a short period. With the acquisition of Yuki, Visma has immediately taken the lead in the market and now offers accountants the most innovative and complete cloud ecosystem. Under the current name, Yuki continues its business activities as an independent organization. As part of the Visma family, it will also work with the other Visma companies in the accountancy ecosystem to create the flywheel of value creation for clients.

In 2017, HgCapital invested in Visma $305 million, in addition to its holding, valuing the total business at an enterprise value of $5.3 billion.

Visma has acquired 100 percent of the shares of Raet. Combined, Raet and the Visma Group are now Europe’s leading cloud company specialized in the development of solutions that are critical for small, medium and large business and enterprises, both private and public. The acquisition is mutually beneficial and provides growth opportunities by leveraging the synergies between Raet’s current offering and Visma’s overall HRM strategy. This will provide great benefits to customers and employees as the combination brings strategic future initiatives to fruition more quickly and efficiently. The combination of Visma and Raet will lead to an even stronger focus on offering relevant solutions to the market.

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.

Lack of presence outside EMEA. In 2018, Visma sold the Hosting and Retail division as part of the strategic plan to focus on core software offerings primarily in the Scandinavian region.

Visma Ecosystem, Partners, Resellers and SI

With over 1 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

Subscribe to read more about:

• Visma Public Cloud and Infrastructure (IaaS)
• Visma Platform (PaaS)
• Visma Application Delivery
• 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).

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