Visma e-conomic A/S

Denmark · owned by Visma Group (Norway) · e-conomic.dk · 72 vendors

Visma e-conomic A/S is Denmark's leading cloud-based accounting platform, serving over 280,000 Danish businesses of all sizes and industries. The company provides a flexible, online accounting and bookkeeping solution covering invoicing, bank reconciliation, expense management, payroll, and financial reporting. It is a subsidiary of the Norwegian Visma Group and is headquartered in Copenhagen, Denmark.

Resilience scores

Technology vendors

Services catalogue

5 services in catalogue across 4 categories; runs on 72 sub-vendors.

Insights

Last updated 2026-09-13 · revision 20

72 direct vendors, 524 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 0/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

I am unable to provide a migration readiness score or reasoning as I lack the necessary information regarding e-conomic.dk's internal tech stack, architecture, and cloud adoption.

Financials

Three-year financials

Financial Resilience Score: 7/10

Visma e-conomic A/S benefits from a highly resilient business model rooted in recurring SaaS subscription revenue for SMB accounting software in Denmark. Accounting systems have historically high gross retention because switching costs are significant for SMEs and their accountants, providing stable, predictable cash flows. The company holds a leading domestic market position and benefits from strong brand recognition among Danish SMEs and the accountant/bookkeeper channel that drives distribution. As part of the Visma group (backed by Hg Capital, GIC, ICG and others), the entity has access to shared platform investment, M&A firepower, and cross-sell opportunities across payroll, banking connectivity, and e-invoicing. Regulatory tailwinds from Denmark's Bogføringsloven (digital bookkeeping law, phased in 2024–2026) are expanding the addressable market by forcing SMEs onto certified digital bookkeeping systems. However, resilience is tempered by competitive pressure from Dinero (a sister Visma brand, creating potential cannibalization), Billy, Uniconta, Microsoft Business Central, and newer entrants. The entity is geographically concentrated in Denmark, limiting diversification. As a PE-owned group subsidiary, high group-level leverage may translate into intercompany interest costs and dividend upstreaming that can depress retained earnings at the Danish entity level even when operating performance is strong.

Key strengths: Recurring SaaS subscription revenue with high gross retention, Leading domestic market position in Denmark SMB accounting software, Backing of Visma group with shared platform investment and M&A firepower, Regulatory tailwind from Danish Bogføringsloven (2024–2026) expanding TAM, Strong distribution via accountant/bookkeeper channel

Risk factors: Competitive pressure from Dinero, Billy, Uniconta, Business Central and new entrants, Potential internal cannibalization between e-conomic and sister brand Dinero, Geographic concentration in Denmark with limited diversification, Dependence on accountant/bookkeeper channel for distribution, PE-owned group leverage may lead to intercompany interest costs and dividend upstreaming depressing retained earnings

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