24SevenOffice Strengths, Domain Expertise, and Key Differentiators
24SevenOffice is Scandinavia's first 100% web-based fully integrated, Cloud-based solution. With 24SevenOffice, companies get a fully integrated ERP system with everything from Accounting, CRM, Project & Timer. Each module can be purchased loosely, for example, start with CRM and add other modules later as needed.
24SevenOffice Recent Developments
On July 4 2023, CEO Eirik Aalvik Stranden purchased 240,000 shares in 24SevenOffice Group AB at a rate of 5 NOK per share, acquiring them from R-Venture AS. This acquisition constitutes 0.35% of the company's total outstanding shares. COO Geir Beinset disclosed on July 5 that he bought 17,750 shares at a price of SEK 5.70 per share, bringing his total shares to 17,750. CMO Rebecca Paulina van Vuuren also announced on July 5 the acquisition of 13,300 shares at a rate of SEK 5.68 per share, resulting in her holding a total of 13,300 shares.
In a subsequent notable event on October 6 2023, CEO Eirik Stranden acquired an additional 197,760 shares in 24SevenOffice Group AB at a rate of 10.13 SEK per share. Following this transaction, Eirik Stranden's total holdings in 24SevenOffice Group AB now amount to 437,760 shares.
24SevenOffice Mergers and acquisitions (M&A) Activities
In September 2021, 24SevenOffice acquires 51% of Of Low AS (cloud-based debt collection software which is already integrated with 24SevenOffice). The software makes it possible for customers to both send reminders directly themselves or buy an outsourced reminder service from Oflow. Oflow has a subsidiary with a debt collection license in Norway. This enables customers in 24SevenOffice to have a fully integrated, one-click, debt collection service within the 24SevenOffice portal. Oflow had approximately 2.5 MSEK in revenue the last 12 months with a breakeven EBITDA.
In January 2021, 24SevenOffice Scandinavia AB has acquired all the shares in the Swedish company Exicom Software AB which has developed advanced project management software targeted at large enterprises. The acquisition strengthens 24SevenOffice Scandinavia AB´s position in the enterprise market and adds customers such as Forsakringskassan, Scania, Axfood, Statistiska centralbyran och Lansforsakringar to the customer list. With this acquisition, 24SevenOffice Scandinavia AB increases and strengthens its presence in the Swedish market.
24SevenOffice Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying 24SevenOffice 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 24SevenOffice 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 24SevenOffice ERP customers.
24SevenOffice Overview
Ownership: - 247:AKT
Number of Employees: 172
Functional Market: Time and Attendance, Payroll,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
24SevenOffice Key Cloud and HCM Applications
24SevenOffice ERP
24SevenOffice HCM and Cloud HCM Applications Revenues, $M:
Type/Year | 2022 | 2023 | YoY Growth, % |
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Total Revenues, $M | Subscribe | Subscribe | Subscribe |
HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** 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.
24SevenOffice Revenue Breakdown by Type:
24SevenOffice HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
24SevenOffice HCM Applications Revenues By Verticals, $M:
24SevenOffice Total and HCM Applications Revenues by Region:
Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
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Americas | Subscribe | Subscribe | Subscribe |
EMEA | Subscribe | Subscribe | Subscribe |
APAC | Subscribe | Subscribe | Subscribe |
Total | Subscribe | Subscribe | Subscribe |
24SevenOffice Direct vs Indirect sales
Region | Direct Sales | Indirect Sales | Total |
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Type % | Subscribe | Subscribe | Subscribe |
Revenues, $M | Subscribe | Subscribe | Subscribe |
24SevenOffice Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified 24SevenOffice Customers
No. of 24SevenOffice Customers: 60000+
No. of 24SevenOffice HCM Applications Customers: x
No. of 24SevenOffice Cloud HCM Customers: 60000+
No. of 24SevenOffice Cloud HCM Subscribers: x
The company has more than 60,000. The number of customers has grown by 20 percent between 2019 and 2020 and as of December 31, 2020, the company had 59,900 customers in Scandinavia. Among its customers are PwC, KPMG, Høyer and HAB Construction and many others.
24SevenOffice has made a strategic decision to increase the focus on larger companies. Going forward, 24SevenOffice will focus primarily on larger and mid-sized businesses with advanced needs and growth companies with ambitions.
24SevenOffice Market Opportunities, M&A and Geo Expansions
November 2023, Aspia Norway has selected 24SevenOffice as a preferred accounting system following a thorough evaluation of ERP suppliers in the Norwegian market. This partnership presents significant growth opportunities and the potential for integrating additional functionality. Working together, 24SevenOffice and Aspia Norway aspire to reach ambitious goals and provide cutting-edge solutions to their shared customers.
24SevenOffice Risks and Challenges
The ongoing geopolitical uncertainties and anticipated economic challenges, including higher interest rates, inflation, elevated supplier costs, and increased rates of defaulted payments in the markets, are variables that they are carefully monitoring. The potential long-term effects of these factors on their customers are still uncertain. These uncertainties may affect 24SevenOffice directly by increasing their cost base and possibly indirectly through heightened defaults, churn, and downgrades due to their new pricing model.
24SevenOffice Ecosystem, Partners, Resellers and SI
24SevenOffice can be easily integrated with Nordea (All payments and bank transactions directly via your business system.), Handelsbanken, Oxceed, SEB, Mailchimp, Upsales, Rackbeat, Busy, OPEN One.Also, the specialists at 24SevenOffice are proficient in establishing connections between the customer's chosen system and 24SevenOffice.
The open API platform provides customers with straightforward plug-and-play integrations. Larger customers can opt to construct their own ecosystems. The system is purpose-built for automation, speed, and scalability, serving businesses of various sizes and industries, ranging from SMEs to large organizations with diverse needs.
24SevenOffice Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- 24SevenOffice Public Cloud and Infrastructure (IaaS)
- 24SevenOffice Platform (PaaS)
- 24SevenOffice Application Delivery
- 24SevenOffice 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:
https://www.appsruntheworld.com/taxonomy
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