Visma Among HCM Top 500

Karenlyst Allé 56

Oslo, x, 277, Norway

47 464-040-00

http://www.visma.com

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Visma Strengths, Domain Expertise, and Key Differentiators

Based in Norway, Visma specializes in ERP software and services such as accounting, tax and payroll applications for over 340,000 SME customers in the Nordic region. 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.

Visma Recent Developments

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

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 Cloud and HCM Applications

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

Visma HCM and Cloud HCM Applications Revenues, $M:

Type/Year20182019YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
HCM Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud 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.

Visma Revenue Breakdown by Type:

TypeLicenseServicesHardwareSupport & MaintenanceSaaS
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe

Visma Total and HCM Applications Revenues by Region:

Region% of Total Revenues2019 Total Revenues, $M2019 HCM Applications Revenues, $M
Americas Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe

Visma Direct vs Indirect sales

RegionDirect SalesIndirect SalesTotal
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: 1000000

No. of Visma HCM Applications Customers: x

No. of Visma Cloud HCM Customers: x

No. of Visma Cloud HCM Subscribers: x


800,000 customers in Northern Europe utilize Visma's products and services, and an additional 300,000 use Visma as a hosting partner.

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 72 % 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

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

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 Platform (PaaS) and Infrastructure (IaaS) Details

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  • 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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