A quarter of a century of digital expense management

We’re celebrating a quarter of a century of digital expense management. Because of that, we’re looking back at some of the most important and interesting milestones in our history.

TL;DRFounded by Lars de Nully in 1997, Acubiz has spent 25 years evolving from a general IT solutions provider to the leading specialist in digital expense management. Key milestones include a 2003 strategic pivot to expense management exclusively, the 2008 shift to a subscription model, the 2013 launch of mobile apps, and the 2021 acquisition by Visma that set up the next phase of growth.

1997: Acubiz is founded

Lars de Nully founded Acubiz in 1997 with a dream of simplifying businesses’ administrative processes. In the first couple of years we developed solutions that could support different business processes. The solutions were developed on the basis of customer inquiries and according to their needs and wishes. In our early years, Acubiz was thus a supplier of IT that dealt with customised solutions.

2003: Focus on ”Expense Management”

In 2003 a strategic change of direction and business definition took place. It was clear that we needed to focus on a sole area of business. That’s why it was decided that, moving forward, Acubiz would only develop solutions and services within Expense Management. This meant that the organisation had the opportunity to specialize in the process revolving around all types of employee-initiated expenses.

2008: The subscription model is introduced

The financial crisis is raging and the IT industry is being put to the test. Up until this point we had been working with a classic licence based business model. In 2008 we transitioned to working with a subscription based model where customers would pay per user per month or based on transactions. We still use this model today.

2013: The first mobile apps are launched

Mobile apps weren’t a new thing in 2013 but launching apps for managing employee expenses were. Acubiz launched three different apps: Capture, Mileage and Approve. These were the predecessors to Acubiz One which we use today. Capture made it possible to manage cash outlays and purchases on company cards, Mileage to handle company-related mileage and Approve to approve employees’ expenses and mileage.

2015: The first ISAE 3402 certification as well as the launch of Fast Track

2015 was the year in which we received our first ISAE 3402 certification. The certification is recognized worldwide as a standard which documents and guarantees us handling self-regulation, operation and general business procedures well – in our case regarding data security. Incidentally, it’s a certification that we’ve received every year ever since.

One of Acubiz’ strengths is our ability to find new ways and develop our customers’ ideas so that they benefit all customers. This was what we did with Fast Track. Fast Track was a showdown with the traditional way of thinking in regards to travel management i.e “the brown envelope” and the idea of gathering all outlays in a pile. Why not just let the user process and complete the expense when it occurs? We were the first on the market with this way of thinking, and today Fast Track is the primary way  of managing expenses

2017: Acubiz Time is launched

Until 2017 we mainly dealt with outlays, purchases on company cards, and mileage but in 2017 we launched what is today our well-known solution for time registration: Acubiz Time. We started out small with a digital solution which could register and handle simple work hours, vacation and absence.

2018: Acubiz One is introduced

Until 2018, Acubiz had four different apps for handling and approving expenses and mileage. In 2018 we gathered the four different apps in one and hence the name: Acubiz One. At the same time we rethought design and functionality and entered the market with the most user-friendly app for managing expenses, mileage, time and later on also invoices. Today, Acubiz One is downloaded by more than 100 people a day in App Store and Google Play.

2019: Acubiz Invoice is launched

Acubiz Invoice saw the light of day in 2019 when it became possible to manage invoices through Acubiz.  A process that is important to digitise and which many of our customers fortunately make use of today. Acubiz Invoice has been a big area of focus for us and has therefore since been upgraded and expanded.

2020: Acubiz Time Advanced is launched

We could feel the need for a more advanced time registration solution for those who work project or case based. That’s why the biggest news in 2020 was the launch of Acubiz Time Advanced.

2021: Visma acquire Acubiz

In December 2021 we were acquired by Visma. It’s decided that Acubiz will continue to operate as an independent company. But our solutions will also be integrated into Visma Enterprise’s HRM in Denmark. The acquisition will undoubtedly benefit the future of Acubiz and accelerate our growth.

2022: 25th anniversary

Acubiz is celebrating a quarter of a century of digital expense management. 25 years in this industry isn’t something that many companies can brag about. We’ve never had a stronger position than we do today. And together with Visma, we look forward to the coming years.

Frequently Asked Questions

When was Acubiz founded and what was its original focus?

Acubiz was founded in 1997 by Lars de Nully with the aim of simplifying administrative business processes. In its early years, the company developed customized IT solutions across different business processes based on customer requests. The strategic pivot to expense management exclusively came in 2003.

When did Acubiz introduce its subscription-based pricing model?

Acubiz transitioned from a traditional license-based model to a subscription model in 2008, during the financial crisis. Customers now pay per user per month or based on transaction volume. The company has used this model ever since, which aligns pricing with actual usage and lowers the barrier to entry for new customers.

What were the first mobile apps launched by Acubiz?

In 2013, Acubiz launched three separate apps: Capture for managing cash outlays and company card purchases, Mileage for registering business-related driving, and Approve for approving employees' expenses. These were the predecessors to the current Acubiz One app, which consolidates all three functions.

When did Acubiz become part of Visma and what did that mean?

Acubiz was acquired by Visma in December 2021 and subsequently rebranded as Visma Acubiz. The acquisition was driven by a shared ambition to accelerate growth, with Visma providing scale and access to new markets. Acubiz continues to operate as an independent company within the Visma group, and the product and team remain unchanged.