dk hugbúnaður ehf

What dk hugbúnaður ehf does

dk hugbúnaður ehf is an Icelandic-headquartered business software company founded in 1998 and acquired by TSS (a strategic operator running 164 companies in 26 countries) in 2020. The company develops and sells dk Viðskiptahugbúnaður, a cloud-based accounting and business management platform built specifically for Icelandic regulatory and market conditions, supplemented by industry-specific modules for retail, hospitality, pharmacy, healthcare, municipalities, fisheries, manufacturing, and professional services. Core products include the dk Kjarni/Vöxtur/Tindur subscription packages, dk POS (Windows and mobile), dk One mobile app, dk Framtal tax return software, and a dk Vistun hosting service that operates from Icelandic data centers (Borealis with backup at Ásbrú) under ISO 27001 certification.

The platform is delivered as a subscription-based SaaS with three main tiers (11,495-39,000 ISK/month) plus à la carte modules, supported by a 22-person advisory department that provides consulting, implementation, and ongoing support under Basic/Silver/Gold service agreements. The go-to-market combines direct subscription self-service, sales-led advisory engagement, and reseller channels via accounting firms. The customer base exceeds 30,000 Icelandic companies (33,000+ hosted, 20,000+ cloud users), with named enterprise and SMB customers including Lindex, Grant Thornton, J.S. Gunnarsson, Elim Foursquare Gospel Alliance (550+ UK sites), Café Adesso, Akureyrarapótek, and Aðalskoðun. International operations continue in the UK and Denmark with ~50 customers, while broader Nordic expansion was retrenched in 2008-2013.

The business model relies on recurring monthly subscription fees, hosting services, and professional services revenue (35,900 ISK/hour for consultants). The company has repeatedly demonstrated consistent operating recognition, earning Creditinfo "Framúrskarandi fyrirtæki" status for eight consecutive years (2017-2024), Viðskiptaráð role-model recognition in 2025, and Jafnlaunavottun equal pay certification (2024-2027). Recent strategic moves include ISO 27001 certification (2024), a new pharmacy dispensing system (2024), Syndis cybersecurity partnership (2024), headquarters relocation (2023), and platform upgrades including the dk 5.2.0 release with credit-card transaction image scanning (November 2025).

Name

dk hugbúnaður ehf

Legal name

dk hugbúnaður ehf

Website

https://dk.is

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

dk hugbúnaður ehf is an Icelandic cloud-based business software company offering accounting, payroll, POS, and tax-filing solutions to over 30,000 Icelandic SMEs and enterprises across retail, healthcare, fisheries, municipalities, and professional services.

Ownership category

akta.pro rank

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Subscription Software (Áskrift): Monthly subscription fees for business software packages including dk Kjarni, dk Vöxtur, dk Tindur, and additional modules. Pricing is per company/organization with various tiers based on features and modules needed.
2. Cloud Hosting Services: Revenue from hosting services (dkVistun) where companies store their data and access dk software through the cloud. Over 30,000 companies hosted.
3. Professional Services and Consulting: Advisory services including consulting, training, remote support, and implementation services. Charged hourly or through service agreements (Basic, Silver, Gold tiers). Hourly rate: 35,900 ISK + VAT for consultants.
4. Service Agreements: Various service agreement tiers (Basic, Silver, Gold) providing different levels of support, access to updates, training materials, and discounts on professional services.
5. dk Framtal (Tax Software): Annual tax return software for professionals, with annual updates and releases.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

dk hugbúnaður ehf develops and sells subscription-based cloud business management software for Icelandic companies, offering three tiers (dk Kjarni, dk Vöxtur, dk Tindur) covering general ledger, accounts payable/receivable, sales invoicing, inventory, payroll, electronic invoicing, and POS. The company also delivers industry-specific solutions (pharmacy dispensing, healthcare, fisheries, municipalities, hotels, automotive workshops), tax-filing software (dk Framtal) for accounting professionals, mobile apps (dk One, dk POS App), and a hosted API integration layer (Vefþjónustur) supported by an in-house advisory team and tiered service agreements.

Product overview

dk hugbúnaður ehf offers a comprehensive suite of business management software developed in Iceland for Icelandic businesses. The core offering is structured as subscription-based packages (dk Viðskiptalausnir) with three tiers: dk Kjarni (entry-level for small businesses), dk Vöxtur (growth package), and dk Tindur (comprehensive for medium/large businesses). These integrate with specialized modules including accounting (Bókhaldskerfi), payroll (Launakerfi, Sjómannalaun), sales invoicing (Sölureikningar), inventory management, job costing (Verkbókhaldskerfi), POS systems (dk POS Windows, dk POS App), and electronic invoicing. Mobile capabilities are provided through dk One and dk Plus. Industry-specific solutions cover pharmacies (Lyfjaafgreiðslukerfi), healthcare, fisheries, municipalities, hotels, and retail. Professional tax preparation is handled via dk Framtal. All solutions can be deployed via cloud hosting (Hýsingarþjónusta) with over 33,000 companies hosted. Integration with external systems is enabled through Vefþjónustur (web services API) connecting to e-commerce, warehouse systems, booking platforms, and payment providers.

Differentiator

Problem solved

Functional benefit

Brands

• dk Framtal: Tax return software for professionals such as auditing and accounting firms.
• dk One
• dk POS
• dk POS App
• dk Vistun

Products and services

• dk Viðskiptalausnir (Subscription Business Software Packages) Subscription-based business software offered in three tiers (dk Kjarni, dk Vöxtur, dk Tindur) providing accounting, invoicing, inventory, payroll, electronic invoicing, and banking modules for Icelandic businesses of all sizes.
• dk POS Windows Windows-based point-of-sale system for retail and restaurant environments; one of the most widely used POS systems in Iceland.
• dk POS App Mobile point-of-sale application for smart devices and card terminals, particularly suited for restaurants and service businesses.
• dk One Cloud-based sales and work tracking mobile application for iOS and Android including sales invoices, quotes, orders, time tracking, work registration, dashboard, and approval system.
• dk Framtal Tax return software for accounting and audit professionals enabling electronic tax filing for individuals and legal entities, annual report preparation, and RSK form processing.
• Hýsingarþjónusta (dkVistun Cloud Hosting) Cloud-based hosting service for dk business software handling data backup, software updates, and security with over 33,000 companies hosted and approximately 20,000 users; data stored in Icelandic data centers.
• Vefþjónustur (Web Services API) API web services enabling synchronization between dk systems and external platforms including e-commerce, warehouse management (K8 wms), and business intelligence tools like Power BI.
• Launakerfi (Payroll System) Payroll processing system handling salary calculations, electronic tax submissions, pension contributions, and compliance reporting for Icelandic employers, with built-in equal pay analysis module.
• Bókhaldskerfi (Accounting System) Comprehensive accounting system module including general ledger, accounts payable/receivable, financial reporting, and budget management.
• Sölureikningar (Sales Invoicing) Sales invoicing system for creating invoices, quotes, and sales orders, integrating with inventory, POS, and electronic invoicing for the complete sales cycle.
• Rafrænir reikningar (Electronic Invoicing) Electronic invoicing module enabling sending and receiving of e-invoices in compliance with Icelandic and European e-invoicing standards.
• Verkbókhaldskerfi (Job Costing and Project Accounting) Job costing and project accounting system for tracking time, expenses, and project profitability including time tracking, cost registration, and project invoicing capabilities.
• Lyfjaafgreiðslukerfi (Pharmacy Dispensing System) Pharmacy dispensing system for prescription handling with connections to pharmaceutical databases, national health insurance, central medication card, and pharmacy dispensing robots.
• Heilbrigðislausnir dk (Healthcare Solutions) Healthcare sector solutions including SAGA medical records integration, Qmatic queue management, health insurance verification, and self-service checkout for clinics and healthcare facilities.
• Sjómannalaun (Fisheries Payroll Module) Specialized payroll module for Icelandic fisheries and seafood processing handling catch registration per collective agreement and per-vessel settlement tracking.
• Fasteignagjaldakerfi (Property Tax System) Property tax management system for Icelandic municipalities including electronic communication with property registry, automatic tax assessment, payment processing, and bank integration.
• Bókunarkerfi fyrir verkstæði (Workshop Booking System) Workshop booking system integrated with dk job costing for vehicle repair shops including appointment booking, work orders, vehicle registry integration, and damage assessment (Cabas) integration.
• Bókunarkerfi fyrir hótel (Hotel Booking Integration) Hotel booking system integration connecting to GODO Property, Booking Factory, Bemar, and Bókun.is for automated data and invoice synchronization with dk financial system and POS.
• Félagakerfi (Association Management System) Association management system for trade unions and membership organizations handling member registration, fee collection, and benefits administration, compatible with dk accounting and sales systems.
• dk Plus Advanced web services package including API access, approval system, Plus time clock, and enhanced integration capabilities for customers needing deeper system connectivity.

Quantifiable outcome

• Over 30,000 companies use dk software in Iceland
• +3 more outcomes

Named customers8 records

Segments9 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration28 records

AI capability2 records

Feature11 records

Partnerships

Five partnerships are on record, tiered core, major and minor.

• SyndiscoreTechnology or Integration · 1 January 2024dk hugbúnaður and cybersecurity company Syndis signed a partnership agreement for implementing Syndis security solutions in dk's hosting environment. This partnership enhances the security of dk's cloud infrastructure and services.
• Lindex (Denmark)majorStrategic or Co-development PartnerLindex uses a complete solution from dk for stores in Iceland and Denmark, integrated with web shop and warehouse system. Lindex has approximately 430 stores across Europe.
• SAGAmajorTechnology or IntegrationSAGA medical records system integration with dk POS and healthcare solutions for seamless healthcare service delivery
• Sjúkratryggingar ÍslandsmajorTechnology or IntegrationIntegration with Icelandic Health Insurance for healthcare billing, medical device sales, and insurance claims processing
• Félagakerfi.isminorChannel Partner/ Reseller/ DistributorFélagakerfi.is is a specialized solution for trade unions, fully compatible with dk accounting and sales systems, connected via dk Plus web services

Scale indicators8 records

Recent moves8 records

Expansion highlights9 records

Direct peers

• Visma: Large Nordic business software group offering accounting, payroll and ERP for SMBs and enterprises across the Nordics, UK and Benelux. Direct competitor in the geographies dk previously tried to enter and overlapping product lines with dk Viðskiptalausnir.
• Hogia: Swedish business software group with payroll, accounting, ERP and transport/logistics products for Nordic SMBs and verticals (ferry, public sector). Directly comparable to dk in payroll/accounting/vertical depth and Nordic regulatory focus.
• Björn Lundén (BL Info): Swedish accounting and tax-filing software publisher for small businesses and accounting professionals. Comparable to dk's combined dk Viðskiptalausnir + dk Framtal offering for accounting firms.
• e-conomic: Danish cloud accounting and invoicing SaaS for SMBs and accountants. Closest geographic peer to dk given shared Danish-Scandinavian SMB customer base and accountant-channel go-to-market.
• Fortnox: Swedish SaaS provider of accounting, payroll, invoicing and ERP for SMBs. Closely mirrors dk's subscription model, vertical SMB focus and Nordic SMB customer base — and represents the model dk attempted to compete against in 2003.

Emerging players

• Xero: Global cloud accounting SaaS for SMBs and accountants. Differentiated by cloud-native UX and broad ecosystem, and increasingly relevant as a competitive threat to legacy Nordic accounting incumbents like dk.

Broad incumbents

• Sage: UK-headquartered global provider of accounting, payroll and ERP for SMBs. Comparable broader portfolio of accounting/payroll products and a competitive threat across dk's product set, though not Iceland-specialized.
• Microsoft Dynamics 365 Business Central: Mid-market ERP from Microsoft covering accounting, inventory and operations. Competes with dk Tindur / larger-business tiers and is the default cloud ERP option global SMBs consider alongside specialized vendors like dk.
• Intuit QuickBooks: Global SMB accounting and payroll leader (QuickBooks). Comparable in SMB/accountant focus but operates at vastly greater scale with consumer and small-business brand reach that legacy Nordic vendors lack.

Regional players

• Datev: German cooperative providing accounting, payroll and tax-advisor software with deep integration to German tax authorities. Structural analogue to dk's tax-authority-integrated model, but for the German market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/dk-hugb-na-ur-ehf
• Xx.com/dkhugbunadur

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about dk hugbúnaður ehf