The financial year 2018

Acubiz' board signing the accounts for 2018
Acubiz’ board signing the accounts for 2018.

Acubiz has just presented its accounts for 2018 and once again, a strong performance has been delivered. A performance that is characterized by growth. The growth is noticeable across both customer acquisition, active solutions (installed base) and the number of users. 150 new solutions were sold in 2018 and Acubiz now serves customers in 33 countries and across 31 languages and local rules. In total, Acubiz serves more than 150.000 users.

In 2018, Acubiz has realized a turnover of DKK 34 million, which corresponds to a 17 % growth compared to the year before. The growth has been driven by continued customer acquisition alongside expansion of engagements with existing customers. The growth has also called for a staff increase, which means that the company exited 2018 with 38 employees.

International ambitions

In the fiscal year of 2018, Acubiz has also invested more resources in its international expansion, specifically by establishing a stronger presence in Sweden and Finland, respectively. The continued international expansion is an important element in Acubiz’ growth strategy and will continue going forward. Amongst other initiatives, this work encompasses an expansion and a strengthening of the company’s partner network.

Rethinking

During 2018, Acubiz has also invested substantial resources in developing and delivering significant improvements to the core product, Acubiz’ Expense Management Service. These improvements will support the company’s sales efforts and growth plans to an even greater extend than previously. In 2018, Acubiz also launched new functionality in the mobile-app, Acubiz One, which gives customers and users more opportunities to work efficiently when they are on the move. All of these initiatives support Acubiz’ “Mobile First” vision – the vision to enable users to perform all administrative tasks on their mobile devices.

An important new functionality in the EMS-solution is the support of RPA (Robotic Process Automation). This is a functionality that renders increased automation of approval – and controlling processes possible. In addition, 2018 has also seen the launch of the first iteration of Acubiz’ invoice processing module (Invoice Management Service), to which commercial expectations are high.
As a part of the growth strategy, Acubiz will continue to invest in product development and innovative improvements to Acubiz EMS and the related add-on services.

Data security

Across the society and the business community, a major item on the agenda during 2018 was data security. Especially in relation to personal data, that had a lot of attention up to the effectuation EU’s General Data Protection Regulative (GDPR) per 25th May 2018. This was even though it’s passing had been announced long before. In terms of handling and protecting customer data in Acubiz’ EMS-solution, Acubiz has been at the forefront of defining and implementing practice and measures that is fully compliant to the new legislation for the area.

This means that the company, already before 25th May 2018, was ready with updated and future proof business practices, encompassing fully compliant data processing agreements (DPA’s) and underlying security measures with customers. To be at the forefront with data security on a continuous basis is one of Acubiz’ top priorities. This means, that Acubiz is not only dedicated to deliver a best-in-class user experience when it comes to Expense Management but is, at the same time, also dedicated to deliver best-in-class data security within the category.