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.
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.