Enterprise purchase-to-pay specialist Palette has announced the opening of a new office in Norway as part of its continued expansion.
Palette has had customers in Norway since 2005, signing a partner agreement Canon for the market in 2014, and has opened the office to support its growing customer and partner base in the country. The move will enable Palette to achieve further growth in the country and deliver its purchase-to-pay software solutions and services to new customers more efficiently.
Lars Ola Petters, CEO of Palette, commented: “We have been looking at the possibility of opening an office in Norway for a long time. The conditions are right to open the office now and we have the right people in place to pursue this venture.”
The new office will open on 1 November with a team that has extensive experience of the purchase-to-pay sector. Sales in Norway will be conducted both directly and through specialist channel partners, following Palette’s strategy in other markets.
“There is great potential in Norway for us. The market is mature as in Sweden, and many organisations are looking to replace their existing solutions with a more advanced and comprehensive solution for their purchase-to-pay processes. With our PaletteArena suite, we are well positioned to take advantage of this demand,” added Lars Ola Petters.
In August this year Palette secured investment from Monterro 1, a leading technology investment group, to help it to expand into new markets. Palette already has offices in Sweden, Denmark, Finland and the USA and as part of its growth strategy it is targeting further international expansion to continue its 25% annual growth rate by entering at least one new market every year.
Palette’s core product suite, PaletteArena, gives customers complete visibility and control of the P2P process by linking purchases, invoices and contracts. Earlier this year the company released PaletteArena 6.3 seeing the addition of several new features to enable enhanced integration with corporate and personal payment card expenditure, and improve purchase order management. Key enhancements in PaletteArena Version 6.3 include a completely new user interface to simplify key functionality and processes; further integration with PaletteConnectivityServices replacing paper based processes with their e-invoicing function; increased spend management through PaletteExpense enabling oversight of credit card expenditure; and improved purchase order matching enabling users to link invoices based on value as well as quantity.