24SevenOffice

Founded in Porsgrunn, Norway, in 1997 by Stian Rustad and Espen Antonsen, 24SevenOffice originated as IKT Interactive AS. Rustad, an engineer and economist, conceptualized the product idea in 1996, positioning the company as an early provider of web-based enterprise resource planning (ERP) solutions in Scandinavia. The company adopted a Software-as-a-Service (SaaS) model in 2002 and rebranded to 24SevenOffice in 2005, the same year it went public on the Norwegian Over the Counter Market, raising NOK 15 million. A significant milestone occurred in 2024 with the sale of its ERP division to an entity backed by KKR for approximately SEK 2.4 billion.

24SevenOffice provides a cloud-based, modular business system designed primarily for small to medium-sized businesses (SMBs), but is scalable for larger enterprises. The company operates on a subscription-based model, where clients pay per user, per month for access to a suite of integrated tools. Its target market includes companies that have outgrown smaller, micro-based ERP systems, typically those with 10 to a few hundred employees requiring more complex functionalities like differentiated user rights and group accounting. The firm generates revenue through these subscriptions and has a distribution network that includes accounting firms.

The core offering is a comprehensive ERP system that integrates various business functions into a single platform. Key modules include Customer Relationship Management (CRM), finance and accounting, invoicing, project management, and time tracking. The accounting module leverages AI and OCR technology to automate invoice processing. The platform's CRM provides a complete overview of customer interactions, sales processes, and contact information. For project management, the system allows for tracking costs, hours, and expenses, along with document management and task delegation. The system is designed for scalability and is integrated with over 200 third-party solutions, including banks and payment systems.

Keywords: ERP system, SaaS, cloud-based business management, CRM, accounting software, project management, financial management, invoicing software, time tracking, business automation, small and medium-sized businesses, Stian Rustad, enterprise resource planning, subscription model, financial technology, automated accounting, business process integration, workflow management, modular software, Scandinavian tech