Complete Control is a best-of-breed commercial value management software allowing CFOs to have better overview of contracts, costs, revenues and obligations – relevant for all companies and public entities. There are 20+ supplementary solutions adding additional functionality and user value. All Complete Control modules are standardized yet highly configurable solutions that integrate, optimize and expand the ERP system.
In 2019, we onboarded 287 new customers. This generated NOK 27 million in new ARR and contributed to a year-on-year growth of 33%. Total ARR passed NOK 100 million. During 2019, we saw a 457% increase in daily logins and 7,800 new users. 163,000 new contracts were registered in Complete Control, and the solution had 23 updates.
Several new modules and extra functionality were added. With our unique solution for IFRS 16 compliance we have taken a lead in the European market. The number of Customer Success Managers increased by 36 per cent while churn fell to record lows. Our meeting-bookers and hunter sales personnel booked 3,044 and held 3,549 meetings
6 reasons to invest in House of Control
The Nordic addressable market is 60 times greater than current annual recurring revenues (ARR). A large market with limited penetration creates substantial room for growth in existing markets, and now we are expanding beyond the Nordics.
Our business model provides earnings visibility and a high share of recurring revenues, and with 1,200 customers paying on average NOK 91,000 per year (2019) exposure to single customers is negligible. The average annual revenue growth has been 33 percent since 2016, and recurring revenues make up approximately 95 percent of total revenues.
The corporate culture and bonus-based remuneration of meeting planners and hunter sales personnel are core reasons for our growth and – to a high degree – unique to our industry. As the portfolio of valuable products we offer the CFO grows, so does customer loyalty and revenue. We expect the acquisition of dinERP to widen and deepen our offerings to the market.
The lifetime value of the average Complete Control customer is between 4.5 and 6.0 times the customer acquisition cost, measured as the fixed salary and commissions for fully ramped sales personnel. In each year from 2016 through 2019, the value of new sales, upsales and price increases is more than three times the combined value of contraction and churn.
Recent and future acquisitions create new as well as increased growth potential. It expands our value proposition and strengthens innovation, paving the way for more customers and increased sales to existing customers. This increases penetration in existing markets while preparing House of Control for expansion into new markets.
2019 annual report
"We are convinced that House of Control is ideally positioned to generate further growth in existing and new markets. An important – but far from the only – reason for this is the need to keep a good overview and cost control over the growing number of contracts between and within businesses. Our solutions can be used by anyone, regardless of which systems our customers use today. They are easy to use and our customers achieve quick and measurable gains. We intend to continue to move forward from this promising starting point." - CEO Lasse Sten
This is Complete Control 5
What we make and sell
Complete Control 5 is at the core of our offering to the market. The Software as a Service (SaaS) solution is a simple yet secure and powerful tool for managing contracts and physical assets throughout their lifecycle. Yet, it does more than merely handling contracts; Complete Control covers what we call commercial value management, adding value to accounting, reporting and budgeting.
Most businesses have a huge range of contracts covering equipment, liabilities, rental and leasing. In most cases, there tends to be no consolidated overview of these. If you are not in control, it’s easy for thousands of dollars, pounds or euros to slip quietly off the bottom line, year in and year out.
We offer a solution, Complete Control, that gives your business the opportunity to get rid of automatic renewals and unnecessary costs and equipment. This solution is as efficient as it is simple and user-friendly, and its information security is first class. This is why we call ourselves “the CFO’s best friend”.
Why customers favor our solutions
There are at least six market forces driving our growth:
- Organizations wishing to improve cost control and cut costs
- CFOs looking for ways to work smarter – reducing stress while increasing the efficiency of their company and their team
- Shareholders, board members and CEOs demanding better control over existing contracts, commitments and future cash flows
- More outsourcing and a growing B2B market resulting in a need for active management and control over an increasing number of contracts
- Businesses professionalising, moving away from dependence on key personnel
- New compliance requirements such as IFRS 16 driving new demand for contract management, estimates and reporting
Complete Control 5 is a SaaS solution and our basic source of revenue. It is sold on a 36 month subscription basis - with the addition of a start-up fee. The reason why annual recurring revenues (ARR) exceed total revenues is that ARR includes all subscriptions sold during the financial year (but only partly accounted for in the first year).
Carl Fabian Flaaten
CFO at House of Control