Eye-share Reports Record-Breaking Results for 2023

Torhill Falnes, CEO in Eye-share

Eye-share AS announces impressive results for the fiscal year 2023, with a significant increase in revenue and profit.

With a revenue growth of 17%, the company has strengthened its position as a leading player in the tech industry in the development of software solutions for automating accounting- and procurement processes, based on explainable artificial intelligence (XAI). 

The total revenue in Norway witnessed a significant increase from 173.8 MNOK in 2022 to  
202 MNOK in 2023. When considering the revenue from our Singapore branch office, the overall revenue amounts to 203.8 MNOK. Simultaneously, our net profit saw a notable rise from 32.8 MNOK in 2022 to 42.1 MNOK in 2023. 

International Growth and Expansion of Customer Base

The focus on international expansion and the establishment of a branch office in Singapore has been a success for Eye-share, which in 2023 acquired as many new customers internationally as domestically. 

In 2023, 20% of the company’s revenue came from international sales, including only customers that Eye-share bills outside the country’s borders, and not Norwegian customers with offices abroad (which are also part of our customer base).  

Future Growth Through Sustainable Strategy

Eye-share looks to the future with a clear focus on growth through new markets and opportunities. We are significantly increasing our efforts in sales and marketing to fully exploit our potential. The company’s strategy involves expanding the customer base across industries and geographical areas, with a focus on delivering value-added solutions to the market.

Financial Figures in Recent Years

YearRevenue Operating ProfitProfit before tax Net Profit
2017 69,2 MNOK 17,6 MNOK 17,9 MNOK 14,1 MNOK 
2018 82,0 MNOK 18,6 MNOK 19,0 MNOK 15,1 MNOK 
2019 108 MNOK 21,3 MNOK 22,2 MNOK 17,9 MNOK 
2020 132 MNOK 25,4 MNOK 26,3 MNOK 21,1 MNOK 
2021 151 MNOK 33,8 MNOK 33,9 MNOK 27,2 MNOK 
2022 174 MNOK 39,1 MNOK 41,1 MNOK 32,8 MNOK 
2023 202 MNOK 49,2 MNOK 52,9 MNOK 42,1 MNOK 
In this short video, Torhill Falnes, CEO of Eye-share, proudly shares the financial results and achievements of the company in 2023. She highlights the figures for revenue growth and EBITA, while also extending warm thanks to all employees and customers for their loyalty and strong commitment. Please note that the video is spoken in Norwegian, with additional subtitles provided in English.

About Eye-share AS and Our Business Operations

About Eye-share

Eye-share is a recognized world-class P2P tech company with a focus on growth, innovation, and enabling digital transformation for global mid-market companies. We provide Accounts Payable (AP) and Purchase-to-Pay (P2P) automation software in the cloud, powered by Artificial Intelligence (AI). Eye-share proudly serves over 6,000 companies and 90,000 unique eye-share users, from all industries, worldwide. Eye-share was founded in 2001 in Norway, is based in Stavanger (HQ), Oslo, and Singapore, and is owned by the Nordic IT company; Tietoevry.

Eye-share software is Based on Explainable Artificial Intelligence (XAI)

Eye-share develops software for the automation of processes from procurement to payment. Our solution, eye-share Workflow, utilizes explainable artificial intelligence (XAI) to optimize the approval flow of orders, contracts, and incoming invoices. XAI stands for “Explainable Artificial Intelligence,” and is particularly important in financial transactions and accounting processing, where it’s necessary to understand and be able to explain the basis for the system’s actions and recommendations to the user. With explainable artificial intelligence, we ensure a transparent, reliable, and trustworthy automated process for the user. 

User Experience – Intuitive and Innovative

Eye-share places great emphasis on the user experience and has conducted extensive user tests and surveys to ensure our solutions are intuitive and innovative. We recently launched a digital assistant in our solution, which we have chosen to call EyeDa. It reflects our commitment to seamless user experiences and advanced automation through explainable artificial intelligence. With EyeDa in the application, we deliver not just a chatbot, but an AI assistant designed to interact with the user, streamline workflows, handle incoming invoices, and monitor procurement documents. 

Best-of-Breed Solution

Being a “Best of Breed” solution means that Eye-share is recognized for being among the market leaders and offers the best in its category in attributes such as ease of use, functionality, performance, and integration capabilities. Our software seamlessly integrates with various accounting systems, giving customers the freedom to choose the best solution for their needs.

Future Proof

Eye-share is positioned for the future with robust and scalable solutions that have been thoroughly tested and proven across various industries and geographical regions, ensuring adaptability and sustainability.