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.
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 1,200 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.
At House of Control, we are convinced that “lean is green”. Whenever a Complete Control user decides not to lease a new piece of equipment or decides to discontinue a service delivery, this customer is at the same time cutting global emissions and the use of the planet’s resources.
Our rule of thumb, based on the experience of some 1,200 customers, is that they can reduce other operating costs by - on average - 10 percent. In addition to improving profitability while treading more lightly on the planet, cutting costs also makes employment more robust in times of scarcity.
Increased profits and more employees translate into a larger tax base for the country’s authorities. Thus, avoiding unnecessary costs not only reduces wasteful behaviour; it contributes to the funding of education, health care and other common goods in a society.
Increased profits, a larger tax base, more secure jobs and a greener planet - we find these highly meaningful outcomes.
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