You are currently viewing Norwegian cloud software firm Visma acquires Lyanthe to automatic invoice processing

Norwegian cloud software firm Visma acquires Lyanthe to automatic invoice processing

Norgweign cloud-based software company Visma announced the acquisition of financial software specialist Lyanthe for an undisclosed amount. 

Post this acquisition, Lyanthe will continue to operate under its own name and with the current team as an independent part of the Visma Group. All collaborations that Lyanthe has with software suppliers and administrative service providers will continue unchanged, writes Visma. 

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Why this acquisition?

With this acquisition, Visma will get a solution for automatic invoice processing. This allows the accountancy and administrative offices to automate their administrative processing processes, based on rule-based algorithms. The solution would be more accurate than the invoice processing functionality in most accounting packages.

Lyanthe’s solution processes up to 95 per cent of all invoice administration automatically without any human intervention. This combination between technology and human actions makes the entire processing process faster, says Visma. 

The robotic accounting technology automatically puts the processed invoices in the right place in the administration of the right customers. This frees up a lot of capacity at the accountancy firms in the pre-accounting team.  

Lyanthe’s platform connects with many accounting packages in the Netherlands and Belgium.

Visma will integrate Lyanthe’s technology into its Visma Connected Experience portfolio for accounting and administration firms. This platform of integrated solutions supports all activities within accountancy and administration offices.

With the software, accountancy firms in the Netherlands and Belgium process more than 150,000 invoices daily for more than 120,000 administrations in 7 countries.

Visma: What you need to know

Based out of Oslo, Visma provides business software and services for accounting and administration. 

The company develops business admin solutions for small businesses, including web-based accounting and invoicing, CRM solutions, purchasing cooperation schemes, webshops, email, and hosting.

The Visma Group is active throughout Scandinavia, the Benelux, and Central and Eastern Europe. 

John Reynders, Area Director Benelux at Visma, says, “Visma is convinced that accountancy and administration firms want to work with software that best suits their own working methods. And don’t want to compromise on functionality. That is why we offer the accountancy industry freedom of choice in software with the Visma Connected Experience. We are happy and proud that Lyanthe is joining the Visma family. Now we also have a smart solution for digitisation with 100% human accuracy coupled with the highest achievable automated processing of large quantities of invoices. This enables the accountancy sector to achieve unprecedented efficiency.”

Lyanthe: What you need to know

Lyanthe is an accounting company that develops a solution to simplify and automate mundane, repetitive tasks. 

Echt-Susteren-based company has been offering a solution since 2012 with which accountants and administration offices in the Netherlands and Belgium can automate their administration processing. 

Rainier van Vlokhoven, managing director at Lyanthe, says, “We are very charmed by Visma’s vision of the accountancy market. Linking best-of-breed applications is essential and Visma realises that. We are pleased to add value to Visma’s proposition for the accountancy sector. Moreover, we see great opportunities to accelerate our growth plans in the Benelux and Scandinavia.”

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