Qics expands into the Nordic market with the acquisition of Danish Projectflow

ProjectFlow is a Danish company, founded in 1999 and headquartered in Odense, Denmark, that develops and delivers a project and portfolio management tool. With 16 FTE, ProjectFlow develops and delivers the SaaS product ProjectFlow 365 to customers in Denmark and Norway. ProjectFlow currently has +80 customers, of which approximately two thirds is active within the public sector. The remaining customers are active across several verticals. ProjectFlow’s customer base includes entities such as the Municipality of Copenhagen, BITZER Electronics A/S, GLS, and the Danish Tax Authority.

Qics, a Dutch software company headquartered in Katwijk, The Netherlands, with a development office in Slovakia, is a leading provider of professional services automation (PSA) software. With over 350 clients, including ICT and SaaS companies such as xxllnc, BCS , accountancy customers such as Joanknecht, Londen & Van Holland and healthcare companies such as Proteion and Vierstroom Hulp Thuis, Qics empowers business service providers and healthcare companies in their digital transformation journey through smart SaaS solutions encompassing planning, time tracking, invoicing, and business intelligence. Employing over 30 full-time equivalents, Qics stands at the forefront of PSA, driving efficiency and innovation for its diverse clientele.

Mutually interchangeable product suites

Qics and ProjectFlow form a strategic partnership, leveraging their synergistic PSA and PPM product suites within Project Management. This collaboration integrates ProjectFlow’s scalable software, known for its flexibility with modules like document management, and its integration with Jira, which is tightly integrated with Microsoft Office and with Qics’ scalable best-of-breed solutions in time registration, planning, invoicing, as well as in business intelligence. The acquisition of ProjectFlow not only fosters strong cross-sell opportunities, as Qics’ modules such as Invoicing and Business Intelligence will be offered directly to ProjectFlow’s customer base and vice versa. This combination also enhances the overall solution suite, catering to both internal and external project management needs within the Project Portfolio Management space. This strategic move positions Qics for substantial growth and innovation in the competitive ICT and SaaS customer landscape.

Market-leading player in North-Western Europe

By combining ProjectFlow’s robust standing in the Danish Project Management Software market with Qics’ strong position in the Netherlands, the merged entity is poised to emerge as a major player in the Benelux and Nordics regions for Project Portfolio Management. This combination establishes a solid foundation for future buy-and-build strategies, propelling the group towards becoming a market-leading player in North-Western Europe. Qics’ geographical presence offers ProjectFlow an opportunity to expand its footprint in the Benelux, capitalizing on the high Microsoft adoption. Additionally, the combined group stands to benefit from Main’s expertise in internationalization and sales scalability within an expanded international framework.

Karsten Ley Poulsen, CEO of ProjectFlow, mentions: “The strategic partnership with Qics represents an exciting chapter for ProjectFlow. We look forward to integrating our scalable project and portfolio management tool with Qics’ best-of-breed solutions, creating a powerful offering for our customers. This collaboration not only expands our market reach, but also enhances our ability to provide innovative solutions in the Project Management space.”

Eddy Plasier, CEO of Qics, adds: “The acquisition of ProjectFlow strengthens the current offering of Qics and positions us well for further growth in ICT, SaaS and other verticals  in both The Netherlands as in the Nordics. We are excited to work with their enthusiastic team on modern solutions for Project Management in its broadest sense and are convinced our shared customer base will benefit from this collaboration.”

Ivo van Deudekom, Investment Director at Main concludes: “The strategic move marks a natural progression for Qics, extending their Project Management capabilities into Project Portfolio Management (PPM) while also entering the Nordics. The synergies between Qics and ProjectFlow are evident in the highly complementary functionalities, customer bases, and geographical focus. This acquisition creates a powerful combination, poised to deliver innovative solutions and strengthen our presence in the Project Management landscape. Lastly, Qics makes use of ProjectFlow’s software for the integration of both organizations, which we consider a blueprint for other companies with buy-and-build strategies. We are excited about the opportunities this collaboration brings and look forward to the growth and success it will unlock.”