Visma enters Icelandic software market with acquisition of Payday
Visma completes its Nordic presence by acquiring Payday, one of Iceland’s fastest growing providers of cloud business software.
Payday delivers cloud accounting and payroll systems to small businesses in Iceland. With a simple and intuitive user interface aiming to make accounting doable for everyone, the company has grown rapidly since its inception in 2017.
By joining Visma, Europe’s leading provider of mission-critical software, the ambition is to establish Payday as the leading player in the Icelandic market.
“We are very pleased to welcome Payday to the Visma family, and at the same time announce our first market entry in Iceland. The Payday team has developed an extraordinary product with top-class functions and capabilities, making it easy to see why they are winning over more and more customers”, says Nebojsha Mihajlovski, Executive Chairman at Visma-owned PowerOffice, and incoming Chairman of Payday.
The acquisition also marks the final piece of the Nordic puzzle for Visma, having already built a leading position within ERP and business software in other countries in the region.
New features on the horizon
Among Payday’s key features include accounting, e-invoicing, payroll, sales, expenses and reporting. In addition, the platform integrates directly with a range of Icelandic banks, the Icelandic tax office and useful platforms like WooCommerce and Shopify.
The product roadmap includes Payday Payments, AI utilization in expense management and reconciliations, new integrations and features that aim to expand the potential market of the platform.
“From the very first day, our primary objective has been to reduce our customers' administrative trouble. They have rewarded us with invaluable feedback as well as recommending Payday to their colleagues, further contributing to our growth. This continuous improvement process is entering a new and exciting chapter, as we join the strong Visma family”, says Björn Hr Björnsson, founder and CEO of Payday.
Payday will continue to operate as an independent company, under the same management.
For more information, please contact:
Lage Bøhren
Director of Communications, Visma
+47 92 15 78 01
About Visma
Visma is a leading provider of mission-critical cloud software, with revenue of € 2.06 billion in 2022, 14,500 employees and 1.6 million customers across Europe and Latin America. By simplifying and automating the work of businesses and organisations of all sizes, we enable a more efficient and prosperous society. Visit us at visma.com.
