24SevenOffice Strengthens Position in Accounting Market with Acquisition of INBooks Flow and Go
Written by: Rebecca Paulina van Vuuren, Head of Marketing Operations i 24SevenOffice -
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24SevenOffice strengthens its position in the accounting industry through the acquisition of INBooks Flow and INBooks Go. This strategic acquisition grants 24SevenOffice access to a new segment — accounting management platform and quality control — thereby expanding its product offerings to encompass all four main verticals in the industry.
From left: Sales Director Christoffer Fernsjø, CEO Eirik Aa. Stranden, and founder Stian Rustad.
Oslo, Norway – February 26, 2024 – 24SevenOffice Group AB (publ) (“24SevenOffice”) announces today the acquisition of the intellectual property rights, software, and customer base of the accounting and administration platforms INBooks Flow and INBooks Go. This acquisition significantly strengthens 24SevenOffice's position in the Swedish accounting market and opens up a new segment for the company – project management and quality control.
INBooks Flow is an innovative and automated platform for accounting administration tailored to the dynamic needs of accounting firms. It encompasses project and task management, KYC procedures (Know Your Customer), compliance with anti-money laundering laws, and digital signature processes. Additionally, it facilitates the creation of agreements between accounting firms and their clients. INBooks GO is an automated accounting program designed for micro-enterprises.
Expanding the product offering and enhancing market positioning
The acquisition of INBooks Flow and INBooks Go expands 24SevenOffice's product range to encompass all four main verticals in the accounting industry:
- Accounting
- Payroll
- Settlements
- Project management and quality control
This positions 24SevenOffice uniquely in the Swedish market and presents significant upselling opportunities to both existing and new partners. INBooks Flow has already established partnerships with nearly 200 accounting firms that are new to 24SevenOffice, while INBooks GO serves approximately 700 new direct customers.
Key employees from INBooks will be joining the 24SevenOffice team
Key employees from INBooks will be transferred to 24SevenOffice, ensuring continuity and expertise within the organization and among partners.
"The acquisition of INBooks Flow and Go presents a tremendous opportunity for 24SevenOffice, and I am thrilled that we have the chance to embark on this journey with their partners, customers, and some of the exceptional INBooks employees joining us at 24SevenOffice," expressed Andreas Näslund, Country Manager for 24SevenOffice Sweden.
"This is a crucial step in the right direction for our profitable growth plan in Sweden and our aim to become the best partner for accounting firms in the Nordic region. INBooks Flow also holds significant potential in the Norwegian market, as there is currently no comparable comprehensive solution of the same quality and price range available. I am eagerly looking forward to seeing the positive impact this will bring for our company and our partners moving forward," stated Eirik Aalvik Stranden, CEO of 24SevenOffice Group.
For further inquiries, please reach out to:
Eirik Aalvik Stranden, CEO
Phone: +47 247 00 030
Email: eas@24sevenoffice.com
About 24SevenOffice
24SevenOffice is a leading provider of financial and accounting systems for small and medium-sized businesses in the Nordic region. Offering a comprehensive suite of solutions including accounting, financial management, invoicing, payroll, project management, CRM, time tracking, and more.
About INBooks
INBooks was a company that provided accounting and administration software for accounting firms and small businesses. Unfortunately, the company filed for bankruptcy in 2024.