Visma acquires unique fintech solution for expense management
With the acquisition of the Danish fintech company Acubiz, Visma expects to accelerate further growth in the market for services within HR & payroll.
With the acquisition of the Danish fintech company Acubiz, Visma expects to accelerate further growth in the market for services within HR & payroll. The expense management solution will be integrated into Visma Enterprise HRM in Denmark.
TL;DRVisma acquired Danish fintech company Acubiz to accelerate growth in the enterprise expense management market and integrate Acubiz's solution into the Visma Enterprise HRM platform in Denmark. The acquisition was driven by strong demand in the Danish enterprise market for integrated solutions that automate HR and payroll administration alongside expense workflows.
The Danish enterprise market has a strong demand for integrated solutions automating business administration processes. Vismau2019s mission is to simplify and automate complex processes to empower people, and the Acubiz solution will support this mission as a great addition to the existing portfolio.
I am excited to welcome another strong, Danish company into the Visma family, said Monika Juul Henriksen, Managing Director of Visma Enterprise A/S. There is no doubt that Acubiz is a perfect match not only businesswise but also in their culture and DNA. Acubiz wants to be the best – and so do we. Together, we will be even better.
Monika Juul Henriksen stated that the acquisition results from a strategic focus on accelerating growth for both companies. The Danish market demands better workflow automation within all administrative areas. She points to the unique domain competencies within expense management, approval flows, absence management, mileage etc., as the key to future success.
We strive for creating simple solutions for complex tasks and we do see an opportunity to do even better within HR & payroll administration when adding Acubiz to our existing My Visma suite, Monika Juul Henriksen explained.
The opportunity to accelerate growth was also pivotal when Acubiz decided to go with Visma.
We have been well aware for quite some time that our strategy to grow and scale Acubiz had to involve a strong partner if we wanted to succeed, says Henrik Malling, Managing Director in Acubiz. Visma is without a doubt the best match for us since we already have a very strong position in the Danish market with a solution designed to simplify and streamline time-consuming administrative processes within expense management, mileage, absence management etc. We see great potential in the Enterprise segment and the Visma Enterprise value proposition, so for us, the choice was easy. It couldn’t have been a better match, stated Henrik Malling.
Acubiz has a market share of 20 % in Denmark and a growing foothold in emerging markets. With an ambition to expand both value proposition and market share, Acubiz is pleased to become a part of Visma.
By becoming a part of Visma, we do not only get a shortcut to new customers, markets, segments and partners, we will also benefit from the knowledge and skills within legal, HR, Marketing and Sales. Being able to counsel with these experts is immensely valuable for us as a relatively small organisation, Henrik Malling explained. So we honestly cannot wait to get started and to get to know all our new colleagues within Visma.
Acubiz will continue as an independent brand in Visma.
For more information, please contact:
Rikke Bundgaard, Head of Marketing & Communication, Visma Enterprise A/S: +45 42 82 26 63
Monika Juul Henriksen, Managing Director, Visma Enterprise A/S: +45 42 82 2 336
Henrik Malling, Managing Director, Acubiz: +45 40 30 37 97
Frequently Asked Questions
Why did Visma acquire Acubiz?
Visma acquired Acubiz to accelerate growth in HR and payroll services and to meet strong Danish enterprise demand for integrated workflow automation. Acubiz's domain expertise in expense management, approval flows, absence management, and mileage was identified as a key addition to the existing My Visma suite, with the goal of creating a more complete HR and finance automation platform.
What will happen to the Acubiz product and team after the Visma acquisition?
The Acubiz solution and team remain intact. The product will be integrated into the Visma Enterprise HRM platform in Denmark, but Acubiz continues to operate with its own organization and product. Existing customers retain the same solution, support, and team they have worked with.
How will the Acubiz and Visma integration benefit enterprise customers?
The integration adds Acubiz's expense management, mileage, absence, and approval workflow capabilities to Visma's broader HR and payroll suite. Enterprise customers get a more connected platform where expense data feeds directly into payroll and HR systems, reducing the manual transfers between separate tools.
What was Acubiz's strategic reason for joining Visma?
Acubiz CEO Henrik Malling stated that scaling Acubiz required a strong partner to achieve the company's growth ambitions. Visma was selected as the best match given its dominant position in the Danish market and its ambition to simplify administrative processes, which aligned closely with Acubiz's own mission.
