The CFO's Best Friend

House of Control is a Norwegian SaaS company (Software as a Service). The most important solution is Complete Control, which is a self-developed tool for contract management and financial management of contracts.

House of Control develops and sells software as a service (SaaS) solutions. The main solution is Complete Control, which is used for managing contracts and assets, including the contracts’ financial implications for accounting, budgeting and reporting. Complete Control has several modules and add-ons, including compliance with IFRS 16 (Financial Leases) requirements, HR management, digital signature and price index adjustments. The user value is derived from cutting costs, saving time, and reducing business risk and dependency on key personnel. 

 

After acquiring DinERP and Effectplan in 2020, House of Control has expanded its scope. We now offer best-of-breed software for procurement, invoicing, supplier and customer communication, and budgeting and reporting. With a wider scope, House of Control seeks to expand its offering to the market by building an ecosystem around the Chief Financial Officer. The CFO of an organization constitutes the typical decision maker and customer.

 

History

The history in a nutshell

What was stolen? This is what the insurance company asked Lasse Sten when the then managing director of a computer equipment distributor reported a break-in at his office in Oslo. 

He and his colleagues quite simply could not present a valid list of what was missing, let alone provide key data such as the model name, purchase price and age.

Sten, who had already founded multiple companies, quickly realised that this problem wasn’t unique to them. The idea was born: Security labels linked to a digital register containing key information such as prices, serial numbers, expiry dates, users and other important documentation.

The solutions were positively received by the market. And the customers did more than use the security labels; they asked questions and made suggestions. “Couldn’t this digital register also be used to give us an overview of bigger things like our ongoing contracts with suppliers and customers?”

Of course, the answer was yes. This customer engagement set off a spiral of customer-driven innovation and technological development that defines House of Control to this day. It soon became clear that the tool helped users to cut out non-essential supplies, learn when contracts were due to expire and automatically renew, remove dependency on key personnel and budget more quickly and accurately.

When the investors in Viking Venture acquired a majority stake in House of Control in 2015, it gave the company further momentum: Professionalization of management, better organisation of the business, a renewed focus on customer satisfaction, and greater financial resources for expansion into new markets.

Why our Nordic roots matter

We believe that our home markets in Norway, Sweden and Denmark are ideal laboratories for Complete Control.

To begin with, the Nordic countries have several characteristics that set them apart from many other parts of the world. Among these, the region has some of the world’s highest cost of employment along with a unique degree economic equality. This makes efficiency and effectiveness paramount: Keep the use of man hours at a minimum and trust highly educated people to do the work right.

From this point of departure, private and public organizations have sped up and strengthened digitization and the focus on core activities. One consequence is a relatively high degree of outsourcing and use of subcontractors. In addition, Nordic employees are independent women and men, so these contracts are often signed by a high number of people at multiple levels and departments.

All this can easily lead to higher degrees of business risk due to dependency on key personnel – and costs you don’t really need. Also, the CFO and her/his team often use too much time pairing bills and contracts, and too much time reporting future cash-flows and budgeting.

So far, approximately 1,300 customers throughout the region uses Complete Control to overcome the challenges posed by a growing number of contracts. They tell us they save time, reduces risk and cut costs.

 

IFRS-16-GT
TV-Aksjonen 2021

Corporate social responsibility

The culture at House of Control is unique. Here we are free to speak our minds, we can make decisions quickly, we work harder than most, and - not least - we laugh a lot and have a good time together.

We wish everyone had the same opportunities as us. Unfortunately, this is not the case, not everyone has good enough conditions, and we can not solve all the world's problems. That is why, for example, we support the Norwegian TV campaign, and we stand wholeheartedly behind the 2021 campaign's work.

At House of Control, we are convinced that «lean is green». When our customers use our solutions, they indirectly contribute to reduced resource use and climate footprint. Better contract management, better purchasing, better budgeting - these are things that can lead to the company contributing less to global emissions.

Every time a company that uses Complete Control decides not to rent new equipment or to terminate a service, this customer helps to reduce global climate emissions and the consumption of the world's resources.

A rule of thumb based on the experience of our customers is that they can reduce other operating costs by 10 percent on average. In addition to increased profitability and reduced environmental impact, the cost reduction also contributes to safer employment conditions in uncertain times.

We also take climate responsibility when we travel - and when we do not travel. House of Control has purchased climate quotas that cover emissions on all our business trips. In recent years, we have also reduced the number of business trips and increased the use of video conferencing accordingly.

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