TM Software

What TM Software does

TM Software, operating under the legal name Origo, is a Reykjavik-headquartered Icelandic IT solutions and software company with 54 employees and over 30 years of operating history in the Icelandic market. The company develops and maintains ten proprietary software products addressing HR and payroll (Kjarni), quality management (CCQ), procurement and requisitions (Timian), spend analysis (SpendSenze), carbon footprint tracking (GreenSenze, co-developed with KPMG), customs management with AI-based tariff classification (Tollvís), energy and utilities (Vigor), smart locker self-service (Miðjan), salary benchmarking (Rúna Launavakt), and backup/disaster recovery (Brynhildur). Its technology stack is built on Microsoft Azure and integrates with Dynamics 365 and Microsoft 365 Copilot, while several products embed AI or analytics for specific workflows such as customs classification and market salary benchmarking.

TM Software's revenue mechanics combine subscription licensing (for example, Rúna Launavakt listed at 29,900 ISK per month per 50 FTEs), professional services and customization, and channel partnerships with global firms such as Microsoft and KPMG. Its customer base spans Icelandic enterprises and public-sector organizations across aviation (Icelandair, Isavia/Keflavík Airport), retail (BYKO, Brauð & Co., Húrra Reykjavik), finance (Arctica Finance, Attentus), public services (Veðurstofa Íslands, Landsbjörg, Öryggismiðstöð Íslands), and other sectors, with reported reach to 3,000+ companies through its Unimaze line and a more concentrated ~30-company footprint in Vigor. The company has signaled portfolio discipline by divesting its Tempo stake in 2022 and reinvesting proceeds into an internal education fund, while continuing to expand product surface (Miðjan launch at Keflavík Airport in 2024) and ecosystem positioning (KLAK Icelandic Startups investment, main sponsorship of Landsbjörg from March 2024).

Name

TM Software

Legal name

Origo

Website

https://tmsoftware.is

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

TM Software (Origo) is a Reykjavik-based IT firm with 54 employees and 30+ years of history that develops ten proprietary software products spanning HR, payroll, procurement, customs, utilities, and salary benchmarking for Icelandic enterprises and public-sector organizations.

Ownership category

akta.pro rank

Headquarters

HQ city

Reykjavik

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Software Licensing and Subscriptions: Origo offers software solutions on a subscription basis including Kjarni (HR/payroll), CCQ (quality management), Timian (procurement), SpendSenze (spend analysis), Tollvís (customs), Vigor (energy solutions), and Rúna Launavakt (salary benchmarking). Monthly subscription fees are charged per employee or as tiered packages.
2. Microsoft Solutions Services: As a Microsoft partner, Origo provides consulting, implementation, and managed services for Microsoft 365, Azure, Dynamics 365 Business Central, Microsoft Fabric, Teams, and related solutions. Revenue comes from both project-based implementation fees and ongoing managed services contracts.
3. Hosting and Operations: Origo provides secure hosting and IT operations services with ISO 27001 certified infrastructure. Services include user support, Microsoft 365 security management, backup services, and cloud operations. Revenue is generated through recurring service contracts with fixed predictable costs.
4. Digital Transformation Services: Custom software development, web development, mobile app development, e-commerce solutions, and digital consulting services. Projects range from website creation to complex digital transformation initiatives for government and enterprise clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

TM Software is an Icelandic IT solutions provider that develops and sells proprietary enterprise software (HR/payroll, procurement, quality management, energy, customs, spend analytics, salary benchmarking, self-service lockers) and delivers Microsoft-based consulting, implementation, and managed services (Microsoft 365, Azure, Dynamics 365 Business Central, Microsoft Fabric, Power BI, Copilot) to Icelandic businesses, government institutions, and selected vertical sectors. The company combines a portfolio of locally developed products with full-service IT delivery under ISO 27001 certified hosting and operations.

Product overview

TM Software (Origo) offers a comprehensive suite of enterprise software solutions including HR management (Kjarni), spend analytics (SpendSenze), ERP integration (Vigor with Business Central and SAP), backup and disaster recovery (Brynhildur), salary benchmarking (Rúna), and self-service platforms (Miðjan). The company also provides Microsoft 365 solutions, e-invoicing services through Unimaze with Peppol certification, and digital transformation consulting services including web development, mobile applications, and e-commerce solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Kjarni: Icelandic HR and payroll management system covering the entire employee lifecycle from hiring to retirement.
• Timian
• CCQ
• SpendSenze
• GreenSenze
• Tollvís
• Vigor
• Rúna Launavakt
• Miðjan
• Viðskiptagreind Origo

Products and services

• Kjarni HR and payroll management system covering employee data management and the full HR lifecycle (from hiring to retirement), localized for Icelandic labor regulations and used by Icelandic businesses and institutions.
• SpendSenze Automated purchase analysis solution that scans invoices and identifies waste in corporate purchasing, with price monitoring and supplier analysis; integrates with Microsoft Power BI for business intelligence.
• Vigor Energy and business solution integrated with Microsoft Dynamics 365 Business Central and SAP, providing billing, meter management, and grid connection systems for utility companies, insurance companies, and energy retailers.
• Brynhildur Backup and disaster recovery service providing secure data protection and rapid restoration for Microsoft 365, Windows/Linux/IBM AIX/Oracle servers, virtual environments (VMware, Nutanix, Hyper-V), cloud workloads (Azure, AWS, Google Cloud), databases (SQL, Oracle, MySQL, PostgreSQL, MongoDB), and SAP/Dynamics systems.
• Rúna Launavakt Salary market intelligence solution providing the latest salary information based on fresh anonymized data from partner companies, updated monthly; available as a subscription (29,900 kr/month covering 50 FTEs, plus 150 kr per additional FTE).
• Miðjan Cloud-based self-service platform for simplified delivery and reception of items via smart lockers (partnered with Ofar) or directly from service points, with electronic identification integration.
• CCQ Cloud-based quality management solution for handling improved workflows, standards compliance, and laws/regulations, designed for Icelandic enterprise requirements in manufacturing, healthcare, and distributed operations.
• Timian Procurement and requisition system connecting buyers and suppliers in an online business environment, with kitchen management module; used by Icelandic organizations including Brauð & Co.
• GreenSenze Automated solution for analyzing carbon footprint in procurement, covering Scope 1, 2, and 3 emissions, developed in partnership with KPMG.
• Tollvís Automated customs system using AI to determine correct tariff classifications for goods, reading data from shipping notifications and invoices.
• Microsoft 365 and Azure managed services Consulting, implementation, and managed services for Microsoft 365, Azure, Dynamics 365 Business Central, Microsoft Fabric, Teams, and Power BI under Origo's Microsoft partner certifications (Azure Administrator Expert, Azure Solutions Architect Expert).
• Digital transformation services Custom software development, web development, mobile app development, e-commerce solutions, and digital consulting services, ranging from website creation to complex digital transformation initiatives for government and enterprise clients.
• Hosting and IT operations Secure hosting and IT operations services with ISO 27001-certified infrastructure, including user support, Microsoft 365 security management, backup services, and cloud operations delivered under recurring service contracts.

Quantifiable outcome

• Customer service delivery time reduced by 78% with self-service locker solution
• +3 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability2 records

Feature9 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• MicrosoftcoreTechnology or IntegrationOrigo is a Microsoft partner providing Azure and Microsoft 365 solutions. The company offers implementation, consulting, and managed services for the full Microsoft ecosystem including Dynamics 365 Business Central, Teams, Power BI, and Microsoft Fabric. Origo has achieved Microsoft partner certifications including Azure Administrator Expert, Azure Developer Associate, and Azure Solutions Architect Expert.
• KPMGcoreStrategic or Co-development PartnerGreenSenze is a joint development project between Origo and KPMG, providing automated carbon footprint analysis for corporate procurement. This partnership combines Origo's technology expertise with KPMG's sustainability consulting capabilities.
• LS RetailcoreTechnology or IntegrationLS Retail is a partner providing retail management solutions integrated with Business Central. Origo implements and supports LS Retail solutions for Icelandic retail customers.
• UnimazecoreTechnology or IntegrationUnimaze provides electronic document exchange services. Origo integrates Unimaze for electronic invoicing, document scanning, and approval workflows within Business Central and other solutions. Used by over 3,000 companies in Iceland.
• OfarcoreChannel Partner/ Reseller/ DistributorOfar provides smart lockers and boxes. Origo's Miðjan solution integrates with Ofar's smart lockers for self-service delivery and pickup at locations such as Keflavik Airport.
• Metall Design StudiocoreStrategic or Co-development PartnerMetall Design Studio partnered with Origo on the Veðurstofa Íslands website redesign. Metall handled the visual design and user experience while Origo managed technical development and infrastructure.
• MIT DesignXcoreStrategic or Co-development PartnerMIT DesignX partnered with Snjallræði accelerator (where Origo is a backer) to bring design and entrepreneurship expertise from MIT to Icelandic startups. Origo supports this partnership through its investment in Snjallræði.
• RubrikcoreTechnology or IntegrationRubrik provides enterprise data protection and backup solutions. Origo offers Rubrik backup services as part of its managed services portfolio.
• VeeamcoreTechnology or IntegrationVeeam provides backup and recovery solutions. Origo offers Veeam backup services as part of its comprehensive data protection offerings.
• VertonetminorGTM or Marketing PartnerOrigo supports Vertonet, an organization of women in technology in Iceland, as part of its diversity and inclusion initiatives. Origo's HR director received Vertonet's Encouragement Award in 2022.

Scale indicators8 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Advania: Advania is a large Nordic IT services and managed-services provider with deep Microsoft partnership credentials, offering a similar combined services-plus-proprietary-software model across the Nordics. Advania is the closest direct comparison given overlapping Microsoft-centric services, regional scale, and industry breadth in the Icelandic-Northern European market.
• Bouvet: Bouvet is a Norwegian IT consulting and software development firm serving Scandinavian enterprises and public sector with custom solutions and digital transformation services. Comparable to Origo in delivering Microsoft-stack custom development and proprietary software to regional enterprise customers, with similar scale and customer profile.
• Visma: Visma is a leading Nordic provider of business software, including HR/payroll, ERP, and accounting solutions, with a portfolio of proprietary SaaS products targeted at SMBs and mid-market in multiple European markets. Comparable to Origo in offering a portfolio of localized proprietary software (HR/payroll, accounting) sold alongside partner-led services and managed solutions.
• Cegal: Cegal is a Nordic IT services and software company specializing in energy/utilities, ERP (Business Central), and managed cloud services. Directly comparable to Origo given its Vigor-style energy vertical software and Business Central implementation services, targeting similar mid-market enterprise and utility customers.
• Tietoevry: Tietoevry is a major Nordic IT services and software company providing ERP (including Microsoft Dynamics), managed services, and proprietary vertical software. Comparable to Origo in offering Business Central implementations, proprietary industry-specific software, and managed IT services to enterprises across the Nordics, though at substantially larger scale.
• Atea: Atea is the leading Nordic IT infrastructure and services provider, with strong Microsoft partner status and a footprint across Sweden, Norway, Denmark, Finland, and the Baltics. It is comparable to Origo in providing managed IT services, Microsoft 365/Azure solutions, and proprietary vertical software to enterprises and public sector.

Emerging players

• Netlight: Netlight is a Nordic IT consultancy specializing in digital transformation, platform engineering, and Microsoft/Azure cloud services for enterprise and public sector. Comparable to Origo in offering Microsoft-centric digital transformation consulting across the Nordics, with overlap in custom software development and cloud-services delivery but a different consulting-led rather than SaaS-led model.

Broad incumbents

• Accenture: Accenture is the largest global IT services and consulting firm with major Microsoft partnership and proprietary digital services across cloud, ERP, and AI. Comparable to Origo in serving enterprise customers with Microsoft-stack consulting, implementation, and managed services, but as a broad global incumbent rather than an Icelandic specialist.
• Capgemini: Capgemini is a global IT services and consulting leader with deep Microsoft Azure/Dynamics capabilities and a managed-services portfolio. Comparable to Origo in delivering Microsoft-stack digital transformation and managed services, but operating as a broad incumbent across geographies and industries at much greater scale.
• Avanade: Avanade is the global joint venture between Accenture and Microsoft, specializing in Microsoft ecosystem delivery (Azure, M365, Dynamics, Copilot, Fabric) at scale. Comparable to Origo in the Microsoft-centric services model and proprietary software on Microsoft stack, but operates globally and at substantially larger scale than Origo's Icelandic focus.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tm-software

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

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 TM Software