Finnish
Finnish may refer to:
* Something or someone from, or related to Finland
* Culture of Finland
* Finnish people or Finns, the primary ethnic group in Finland
* Finnish language, the national language of the Finnish people
* Finnish cuisine
See also ...
software corporation that produces cloud-based solutions and related services to its customers. Its product range consists of IT departments’ ERP solutions, i.e.
IT Service Management
Information technology service management (ITSM) is the activities that are performed by an organization to design, build, deliver, operate and control information technology (IT) services offered to customers.
Differing from more technology-or ...
IT systems
Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of Data (computing), data . and information. IT forms part of information and communications technology (ICT). An information te ...
.
The company was founded in 1998 and it was listed in
Nasdaq First North
Nasdaq First North Growth Market is a division of Nasdaq Nordic and an alternative stock exchange (legally a multilateral trading facility) for smaller companies in Europe. The market place Nya Marknaden in Stockholm changed name to First North i ...
Helsinki market place in 2017.
History
1998–2012
Jaan Apajalahti, Kristian Jaakkola, and Jussi Sarkkinen founded the company in 1998 by the name Bitmount Systems Oy.
In 2002, the name of the company was changed to Efecte Oy. The company’s first international subsidiary was founded in 2005.
In 2006, Efecte’s revenue growth was more than 60%, and it employed 70 people in Nordic countries.
In 2007, Efecte’s revenue was 6,3 million euros, and growth year-over-year was more than 60%. The rapid growth compared to the industry overall was due to the growth of market share in Finland and successful business in other Nordic countries. New offices were opened in Denmark and Norway. In ten years, Efecte had become a leading company in its field in the Nordics.
In 2008, Efecte employed 100 people in the Nordics, 70 in Finland and the rest in Sweden, Norway, and Denmark. It sought for new growth in the German market. About half of the company’s customer base was in the public sector and about half in the private sector. E.g., 11 out of the 15 biggest cities and municipalities in Finland were Efecte’s customers. Corporate revenue was almost 8 million euros.
The years after the
financial crisis
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and man ...
were difficult for the company. In 2009, the number of employees was radically reduced, and Efecte’s founders left the company’s operative leadership positions. New professional leadership was appointed, whose focus was in the software business. Following the new channel partner strategy, Efecte gave up its own sales organization and consulting business.
2013–
When the company's finances had been fixed by 2013, Efecte renewed its strategy. The decision was made to start producing
software as a service
Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software.
SaaS is con ...
. That means that using the solutions did not require installations or own servers from the customers. Cloud-based solutions had been tested already since 2009. Sakari Suhonen, previously deputy-CEO of the company, was nominated to be the next CEO. Moving from license sales to recurring monthly billing was a big transformation in the business model, in sales, and in the company’s culture.
The company focused its efforts on product development and started to build a cloud platform that would not be dependent on multinational cloud platform vendors like
Microsoft
Microsoft Corporation is an American multinational technology corporation producing computer software, consumer electronics, personal computers, and related services headquartered at the Microsoft Redmond campus located in Redmond, Washing ...
or
Amazon
Amazon most often refers to:
* Amazons, a tribe of female warriors in Greek mythology
* Amazon rainforest, a rainforest covering most of the Amazon basin
* Amazon River, in South America
* Amazon (company), an American multinational technology c ...
. Early 2013, Efecte acquired RM5 Software, which had concentrated on identity and access management software. Efecte re-started its own sales organization and gave up partner channel sales. The company also resumed its consulting business.
In 2015, Efecte launched a new solution platform, Efecte Edge. The company had approximately 200 customers. The company also migrated its old customers towards using its cloud solutions.
In 2016, the company’s revenue reached 8,3 million euros.
By 2017, Efecte’s customer number had reached approximately 300, and it had 80 employees. The number of employees in Germany tripled when Efecte hired a six-person team from its American competitor Cherwell. Efecte rationalized the unconventional growth strategy with the team knowing the market well and being more ready as employees than people coming from outside the industry. In December, the company was listed on Nasdaq First North Helsinki market place. The company’s turnover passed 10 million euros for the first time.
In July 2018, Niilo Fredrikson was nominated CEO after Sakari Suhonen, who had held the position for five years. During Suhonen’s tenure, the company renewed its product portfolio, moved to cloud solutions, and became a listed entity. During the previous year, the company had also hired dozens of new employees. Fredrikson started in his CEO role in September. International business accounted for 20% of the company’s turnover.
In spring 2019, the SaaS business accounted for 50% of the company’s net revenue.
Organization
Efecte corporation’s parent company is Efecte Plc. Its headquarters is located in
Espoo
Espoo (, ; sv, Esbo) is a city and municipality in the region of Uusimaa in the Republic of Finland. It is located on the northern shore of the Gulf of Finland, bordering the cities of Helsinki, Vantaa, Kirkkonummi, Vihti and Nurmijärvi ...
, Finland. In 2021 there were 114 employees in Efecte. The company serves its Scandinavian customers from
Stockholm
Stockholm () is the Capital city, capital and List of urban areas in Sweden by population, largest city of Sweden as well as the List of urban areas in the Nordic countries, largest urban area in Scandinavia. Approximately 980,000 people liv ...
,
Sweden
Sweden, formally the Kingdom of Sweden,The United Nations Group of Experts on Geographical Names states that the country's formal name is the Kingdom of SwedenUNGEGN World Geographical Names, Sweden./ref> is a Nordic country located on ...
and German, Swiss, and Austrian customers from
Munich
Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the States of Germany, German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the List of cities in Germany by popu ...
,
Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...
. In Germany, Efecte collaborates with Bechtle GmbH IT System House Hamburg.
The company's CEO is Niilo Fredrikson.
Products
Efecte offers cloud-based IT Service Management and Identity and Access Management software and professional services that support them. With Efecte's platform, customers and digitalize, manage and automate different services. Customers use the platform to manage, e.g., IT, HR and financial services, customer service, and access rights. The platform is also in use in facilities, contract management, and identity management.
Efecte's customer base consists of different service organizations in large and mid-sized companies and public sector entities. In Finland, e.g.,
Mehiläinen Mehiläinen (Finnish for " bee") is a concern for social and healthcare services for both public and private customers, active in Finland, Sweden, Germany and Estonia. The company's largest owner is CVC Capital Partners.Musti Group, and Sarastia were Efecte's customers in 2019. In Switzerland, one of Efecte's largest customers is the hotel chain Hotelplan Group that has over 1600 offices.
In 2019, 80% of the company's revenue came from service management, and the remaining 20% from Identity and Access Management. Service management includes planning, delivering, managing, and developing organizations' IT services. Identity and Access Management means the creation, management, and storing users' identities and access rights. Efecte's ticketing systems are used in IT functions, but increasingly also in finance departments. Efecte's platform has an integrated
kanban board
A kanban board is one of the tools that can be used to implement kanban to manage work at a personal or organizational level.
Kanban boards visually depict work at various stages of a process using cards to represent work items and columns to rep ...
, on which tasks move as cards from left (To Do) to the right (Done), moving through different process phases. Efecte offers services that are related to its software products, e.g., implementation projects, integration work, training, and continuous development of customers' environments. In 2015 Nordic customers included
SSAB
SSAB AB, earlier ''Svenskt Stål AB'' (English: Swedish Steel), () is a Swedish company, formed in 1978, that specialises in processing raw material to produce steel. The largest shareholders are Aktiebolag Industrivärden and the Government of ...
,
Roskilde Municipality
Roskilde municipality ( da, Roskilde kommune) is a municipality in Region Sjælland, 30 km west of Copenhagen on the island of Zealand (''Sjælland'') in east Denmark.
The biggest city is Roskilde, the municipality covers an area of 212 ...
,
Danske Bank
Danske Bank A/S is a Danish multinational banking and financial services corporation. Headquartered in Copenhagen, it is the largest bank in Denmark and a major retail bank in the northern European region with over 5 million retail customers. ...
, and
Stena Sphere
The Stena Sphere consists of the three parent companies, Stena AB, Stena Sessan AB and Stena Metall AB, wholly owned by the Olsson family. Together they make up one of Sweden’s largest family-owned corporate groups. The group’s revenue is 66 bi ...
. In 2015 the company said other customers were companies such as
Konecranes
Konecranes Oyj (KCI Konecranes prior to 16 March 2007) is a Finnish company, headquartered in Hyvinkää, which specialises in the manufacture and service of cranes and lifting equipment as well as the service of machine tools. The firm produces ...
,
Patria
Patria may refer to:
Entertainment
* Patria (novel), a 2016 novel by Spanish writer Fernando Aramburu
* Patria (TV series), a 2020 limited television series, based on the novel
* ''Patria'' (serial), a 1917 American serial film
Music
* "Pátri ...
VR Group
VR-Group Plc ( fi, VR-Yhtymä Oyj, sv, VR-Group Abp), commonly known as VR, is a government-owned railway company in Finland. VR's most important function is the operation of Finland's passenger rail services with 250 long-distance and 800 co ...
,
Paulig
Paulig is a Finnish family-owned food and drink company, founded in 1876. The company's brands are Paulig, Santa Maria, Risenta and Poco Loco. Paulig has 2,000 employees in 13 countries and its net sales in 2019 were EUR 921 million.
History
The ...
, and Finnish cities
Helsinki
Helsinki ( or ; ; sv, Helsingfors, ) is the Capital city, capital, primate city, primate, and List of cities and towns in Finland, most populous city of Finland. Located on the shore of the Gulf of Finland, it is the seat of the region of U ...
,
Vantaa
Vantaa (; sv, Vanda, ) is a city and Municipalities of Finland, municipality in Finland. It is part of the inner core of the Greater Helsinki, Finnish Capital Region along with Helsinki, Espoo, and Kauniainen. With a population of (), Vantaa i ...
,
Espoo
Espoo (, ; sv, Esbo) is a city and municipality in the region of Uusimaa in the Republic of Finland. It is located on the northern shore of the Gulf of Finland, bordering the cities of Helsinki, Vantaa, Kirkkonummi, Vihti and Nurmijärvi ...
, and
Tampere
Tampere ( , , ; sv, Tammerfors, ) is a city in the Pirkanmaa region, located in the western part of Finland. Tampere is the most populous inland city in the Nordic countries. It has a population of 244,029; the urban area has a population o ...
Deloitte & Touche
Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of profession ...
, Efecte ranked among the fastest growing Finnish technology companies in 2005, 2006, 2007 and 2008, making the top 10 list in 2005. In 2005, Efecte was also ranked as the 216th fastest growing technology company across EMEA.
*In 2008, Efecte ranked 9th in ''Best Workplaces in Finland'' study conducted by Great Place to Work Institute. Efecte was also the only so-called gazelle company in an annual mapping of the Finnish software industry. According to the definition, a gazelle company grows at least 50% on three consequent years.
*In 2020, Efecte was ranked Finland’s 10th best workplace in Great Place to Work Finland’s mid-sized company category.