Azets

What Azets does

Azets is a privately held international advisory, outsourcing, and compliance services group founded in 2016 and headquartered in Sweden. The company delivers accounting, bookkeeping, payroll, HR, tax, audit (launched 2025), legal/compliance, and business advisory services to more than 100,000 customers across 8 countries (Sweden, Norway, Denmark, Finland, the UK, Ireland, Romania, and Estonia) through a network of 190+ local offices and 9,000 experts. Customers range from SMBs and foundations to multinational enterprises (e.g., Tobii, Nippon Gases, OMRON, Euroclear, Arval/BNP Paribas), with industry-vertical specializations in public sector, manufacturing, retail/hospitality, professional services, and non-profits.

The technology backbone is a Microsoft-centric stack: Azets is one of the largest Nordic Microsoft Dynamics 365 Business Central partners, delivering ERP implementation, customization, support, and analytics layered on Azure, Power BI, Power Apps/Power Automate, and Microsoft Copilot. Two vertical solutions — LS Central (retail, hospitality, pharmacy) and LS Express (small-business POS) — are built on Business Central and delivered by Azets. Proprietary digital platforms include Azets Cozone, a cloud customer portal aggregating 20+ applications under a single sign-on, and Azets Expense, a self-developed travel-and-expense system with computer-vision receipt scanning, electronic logbook integrations, and Nordic corporate-card linking.

Azets generates revenue through subscription-style recurring services (accounting, payroll, HR) bundled or sold standalone, professional-services fees (tax, audit, advisory, legal, M&A), and Microsoft ERP implementation/managed-services contracts. Pricing is quote-based and customized to scope, billed annually. The go-to-market combines an enterprise field-sales motion through the local office network, self-service via the Cozone portal, interim-consultant placements, and partner-channel delivery for Microsoft Business Central. Growth has been acquisition-led, with 100+ completed deals since 2016 including Blick Rothenberg in London, supplemented by deep vertical specialization and AI-augmented offerings such as Microsoft Copilot-enabled ERP workflows and AI-driven analytics for public-sector audits.

Name

Azets

Legal name

Azets

Website

https://azets.se

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Azets is a privately held international advisory, outsourcing, and compliance services group delivering accounting, payroll, HR, tax, audit, and business advisory across 8 countries to 100,000+ customers via 190+ offices and proprietary Microsoft-based platforms.

Ownership category

akta.pro rank

Product category

Accounting and Business Advisory Services

NAICS

Professional, Scientific, and Technical Services (54), Management Consulting Services (54161), Computer Systems Design and Related Services (54151), Custom Computer Programming Services (541511), Office Administrative Services (5611), Administrative Management and General Management Consulting Services (541611)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Management Consulting Services (8742), Services-Computer Programming, Data Processing, Etc. (7370), Services-Management Services (8741)

akta.pro industry

PRIMARYBPAEAJAB

ITIL/ITSM Process Consulting & Implementation

Business & Public Services/IT & Digital Services (Managed Services, Systems Integration)/IT Service Management (ITSM) & Service Desk

SECONDARYBPAAACAC

Software/Application Support (SaaS, Enterprise Apps)

Business & Public Services/Administrative & Support Services (BPO, Call Centers, Back Office)/Technical Support & Helpdesk (IT/Device/Product Support)

SECONDARYBPAEAGAO

Enterprise Application License Advisory, Vendor Management & Optimization

Business & Public Services/IT & Digital Services (Managed Services, Systems Integration)/Enterprise Applications Services (ERP/CRM/HRIS)

Keywords

• Accounting services
• Payroll outsourcing
• Tax advisory
• Audit services
• Business advisory

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices29 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Accounting and Bookkeeping Services: Ongoing accounting, bookkeeping, and financial reporting services delivered through local offices. Includes monthly/quarterly reporting, annual accounts, and financial statement preparation.
2. Payroll Processing Services: Full-service payroll management including salary processing, tax withholding, compliance reporting, and employee self-service. Offered as standalone or bundled with accounting services.
3. Tax Advisory Services: Tax consultation including income tax, VAT, corporate taxation, property transactions, and tax optimization strategies for individuals and businesses.
4. Audit and Assurance Services: Financial audits, operational audits, internal audits, and assurance services for businesses and public sector organizations.
5. HR Advisory and Consulting: Human resources consulting including employment law, recruitment support, compensation benchmarking, payroll process analysis, and organizational development.
6. ERP Implementation and Support: Microsoft Business Central implementation, customization, and ongoing support services including system upgrades, monitoring, and maintenance.
7. Business Advisory Services: Strategic business consulting including capital raising, group accounting, budgeting, and M&A advisory services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Azets provides outsourced accounting, bookkeeping, payroll, HR, tax, audit, and business advisory services to companies across the Nordics, UK, Ireland, Romania, and Estonia, delivered through 190+ local offices. The firm complements these professional services with proprietary digital platforms (Azets Cozone customer portal, Azets Expense) and acts as one of the largest Nordic Microsoft Dynamics 365 Business Central implementation partners.

Product overview

Azets is a technology-driven international business services group (accounting, payroll, HR, tax, audit, and advisory) operating across 8 countries with 9,000 experts and 100,000+ customers. The company operates as a services firm that also delivers and supports a portfolio of software products. The core product ecosystem centers on Microsoft Dynamics 365 Business Central (delivered and managed by Azets as one of the largest Nordic partners), complemented by two vertical ERP solutions built on Business Central: LS Central (for retail chains, hospitality, and pharmacies) and LS Express (for small retailers). Azets also offers two proprietary digital platforms: Azets Cozone, a cloud-based customer portal aggregating 20+ own and third-party applications under a single login (including Azets Activity, Agreement, Drive, Employee, Expense, Invoice, and Report), and Azets Expense, a self-developed travel and expense management system with receipt scanning, mileage logging, and corporate card reconciliation. These software products are delivered alongside a full suite of professional services spanning accounting/bookkeeping, audit (launched 2025), payroll outsourcing, HR and payroll advisory, tax advisory, legal and compliance advisory, business advisory, interim consulting, international services, and industry-specific solutions for public sector, professional services, foundations, manufacturing, and retail chains. Services are delivered locally via 190+ offices across Sweden, Norway, Denmark, Finland, the UK, Ireland, Romania, and Estonia.

Differentiator

Problem solved

Functional benefit

Brands

• Blick Rothenberg: A leading advisory firm in tax, accounting and business, based in London, operating as part of the Azets Group.

Products and services

• Accounting and Bookkeeping Services Full-service ongoing bookkeeping, monthly/quarterly reporting, annual accounts, and financial statement preparation delivered locally through 190+ offices across 8 countries for businesses ranging from SMBs to large enterprises.
• Payroll Management and Outsourcing Services Authorized payroll processing and full or partial payroll outsourcing covering salary calculation, tax reporting, time tracking, benefits and pension administration, HR advisory, and expense management via Azets Expense.
• Tax Advisory Services Tax consultation covering income taxation, VAT, corporate taxation, family business (3:12 rules), ownership restructuring, and real estate transactions for businesses and individuals.
• Audit Services (Revision) Authorized financial audit, operational/internal audit, and assurance services for private companies, public sector entities, and non-profits. Launched in 2025 through acquisitions.
• HR and Payroll Advisory Advisory services covering employment contracts, labor law, employee handbooks, HR process development, pay equity analysis, recruitment support, salary conversion, pension analysis, and pension administration.
• Business Advisory Advisory services in capital raising and new issues, group accounting and consolidation, accounting standards advisory (K2, K3, RFR, IFRS), liquidity planning and budgeting, import/export and customs advisory, and capital depletion assessment.
• Legal and Compliance Advisory Corporate law services (company formation, board/ownership changes), contract management and M&A, due diligence, GDPR compliance, and information security framework services for businesses.
• Interim Consulting Services Interim consultants across finance, payroll, and HR at various seniority levels (Interim CFO, Controller, Accounting Manager, Finance Manager, Payroll Manager, HR Manager) with rapid matching, flexible engagement, and ongoing support.
• Azets Cozone Cloud-based customer portal aggregating client services (accounting, payroll, HR) under a single login. Hosts 20+ own and third-party applications including Azets Activity, Agreement, Drive, Employee, Expense, Invoice, and Report.
• Azets Expense Self-developed travel and expense management system that automates receipt scanning (computer vision), mileage logging, per diem calculations, and corporate card reconciliation with automatic card-linking for major Nordic banks.
• Microsoft Dynamics 365 Business Central (delivered by Azets) Cloud-based ERP implementation, customization, migration from NAV, continuous support, monitoring, and managed services for small-to-large enterprises delivered by Azets as a Microsoft partner.
• LS Central Unified all-in-one ERP built on Microsoft Dynamics 365 Business Central for retail chains, hospitality (restaurants, hotels), and pharmacy. Covers POS, inventory, loyalty, omnichannel campaigns, and analytics using Azure SQL and Power BI dashboards.
• LS Express Simple, cloud-based POS (point-of-sale) system for small retailers built on Business Central with 99.8% uptime, automatic updates, PCI DSS and EMV compliance, full Shopify integration, and runs via web browser on any device.
• Azets Digital Advisors IT consulting practice guiding clients through digital transformation, from identifying needs to implementing and integrating tailored IT solutions, with ongoing optimization support.
• International Business Services End-to-end support for international companies establishing in Sweden and Swedish companies expanding abroad, covering international accounting, Nordic payroll, company formation, and cross-border regulatory compliance.
• Nordic Payroll Services Cross-border payroll services across Sweden, Norway, Denmark, and Finland with ISAE 3402-certified delivery, centralized coordination, local compliance, and access via Azets Cozone portal.
• International Accounting Services International accounting across the Nordics and other European countries with integrated Record-to-Report, Purchase-to-Pay, and Order-to-Cash processes, unified software, real-time reporting, and a single point of contact for multi-country clients.
• Company Formation in Sweden Full business registration in Sweden for international companies, including company formation, tax registration, payroll setup, HR compliance, and ongoing accounting and payroll administration.
• Public Sector Advisory Advisory services for public sector clients (municipalities, regions, government agencies) covering fraud/risk management, AI-driven data analysis, third-party audit, organizational development, digitization and automation, public law, leadership, governance, and change management.
• Foundation Office Dedicated accounting, reporting, annual accounts, legal advisory, audit referral, and grant management services for foundations and non-profits, combining digital tools with sector-specific expertise.

Quantifiable outcome

• 100+ successful acquisitions completed
• +3 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration22 records

AI capability11 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Blick RothenbergcoreStrategic or Co-development PartnerBlick Rothenberg, a leading advisory firm specializing in tax, accounting, and business services based in London, is part of the Azets Group. This acquisition strengthens Azets' presence in the UK market and expands their service capabilities for international clients.
• MicrosoftcoreTechnology or IntegrationAzets is one of the largest Microsoft Dynamics 365 Business Central partners in the Nordics, delivering ERP implementations, customizations, and ongoing support. The partnership includes access to Azure cloud infrastructure, Power Platform integration, and Microsoft Copilot AI capabilities.
• IDURcoreTechnology or IntegrationIDUR is a pension services partner that Azets collaborates with for employee pension administration and benefits management as part of their comprehensive HR and payroll services.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Visma: Visma is the leading Nordic provider of accounting, payroll, HR, and ERP software and services, with comparable scale (€2.5B+ revenue) and a similar mix of local cloud software plus outsourced financial services for SMB and mid-market customers across the same Nordic geographies Azets serves.
• BDO Global: BDO is a global mid-market accounting, tax, and advisory network that competes directly with Azets for the same international mid-market clients, including auditing, accounting outsourcing, payroll, and cross-border advisory services.
• RSM International: RSM is the world's sixth-largest audit/accounting network focused on mid-market companies, offering audit, tax, and consulting services — a near-direct competitor to Azets across the Nordic and UK mid-market.
• Grant Thornton International: Grant Thornton is a global mid-market accounting network offering audit, tax, and advisory services, directly competing with Azets for cross-border financial services engagements in the Nordic/UK region.
• Mazars: Mazars is a global mid-tier audit, accounting, tax, and advisory firm with strong European presence and similar mid-market and international client focus as Azets.
• Baker Tilly International: Baker Tilly is a global mid-market accounting network offering audit, tax, advisory, and outsourced finance services, competing head-to-head with Azets in Nordic and UK mid-market accounts.
• SD Worx: SD Worx is a leading European HR and payroll outsourcing specialist headquartered in Belgium, with comparable Nordic payroll and HR advisory offerings and similar mid-market enterprise customer profile.
• Crowe Global: Crowe is a global mid-market accounting and advisory network providing audit, tax, and consulting services, competing with Azets for the same international mid-market and Nordic client engagements.

Regional players

• Hogia: Hogia is a Swedish-owned group providing business software and financial/administrative services to Nordic public sector and SMB customers, with overlapping offerings in payroll, accounting, and ERP.

Emerging players

• Fortnox: Fortnox is a Swedish cloud-based accounting, payroll, and ERP SaaS platform for SMBs; while more software- than services-led, it directly competes with Azets' SMB book in the Swedish market (and is also referenced as an Azets-integrated platform).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/AzetsSverige
• LinkedInlinkedin.com/company/azets
• Instagraminstagram.com/azetssverige

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 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 Azets