Visma Software International AS Due Diligence

Run due diligence on Visma Software International AS: check compliance and get alerts when suppliers or ownership change.

Norway · owned by Independent (Norway) · visma.com · 28 vendors

Visma delivers cloud-based business software that simplifies the work lives of entrepreneurs, businesses, and societies. The company operates over 180 companies serving 2.2 million customers across 28 countries with solutions for accounting, ERP, payroll, and other business management needs.

Resilience scores

Technology vendors

Services catalogue

29 services in catalogue across 8 categories; runs on 28 sub-vendors.

Insights

Last updated 2026-01-15 · revision 22

28 direct vendors, 226 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

5 in-scope frameworks identified; showing 3.

SOC 2 (source) — No public evidence

SOC2 is highly relevant for Visma as a cloud software provider handling customer data and providing business-critical services. Enterprise customers increasingly require SOC2 Type II reports for vendor assessments.

GDPR (source) — No public evidence

GDPR applies as Visma is headquartered in Norway (EEA) and processes personal data of customers across Europe. As a cloud software provider serving 2.2M customers, they handle significant volumes of personal data including customer information, employee data, and potentially sensitive business data.

ISO 27001 (source) — No public evidence

ISO 27001 certification is highly recommended for Visma given their role as a major European cloud software provider handling sensitive business data for 2.2M customers. The standard provides framework for information security management systems (ISMS) and would support compliance with GDPR and NIS2 requirements.

Financials

Three-year financials

Financial Resilience Score: 8.5/10

Visma's financial resilience is exceptionally high due to a combination of strategic, operational, and financial factors. As of year-end 2022, over 85% of Visma's total revenue was recurring. This is primarily driven by its SaaS subscription model. Such a high percentage provides excellent revenue predictability, stability, and insulation from economic downturns. With an EBITDA margin consistently above 27%, Visma generates substantial cash flow from its operations. This cash is a key engine for reinvestment into product development and funding its M&A activities. The company is well-diversified across multiple dimensions, which mitigates risk. It is not reliant on a single product, customer segment, or geographic market. Visma's "buy-and-build" strategy is a core competency. The company has acquired and successfully integrated hundreds of smaller software companies, allowing them to operate with autonomy while benefiting from Visma's scale and expertise. In 2022 alone, Visma completed 42 acquisitions. Visma is backed by a consortium of blue-chip private equity investors, led by Hg Capital, which has deep expertise in the software sector. This provides access to significant capital for growth and strategic guidance. The primary risk associated with a model like Visma's is the leverage used to fund acquisitions. However, the company's strong, predictable cash flows provide a solid foundation for servicing its debt obligations.

Key strengths: High Recurring Revenue, Strong Profitability and Cash Flow, Diversification, Proven M&A Integration Capability, Strong Shareholder Backing

Risk factors: Leverage used to fund acquisitions

Revenue by geography

Revenue by product/service

Workforce by country

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