DENMARK
Architects of Change
III
n the space of a single week last October, tech giants Google and
Facebook acquired over nine million square feet of land in Denmark Facebook acquired over nine million square feet of land in Denmark
that they intend to use as springboards for future European growth. The that they intend to use as springboards for future European growth. The
purchases are a resounding endorsement of the country’s claim to be thepurchases are a resounding endorsement of the country’s claim to be the
most digitalized and digital-friendly country on the continent. At a civic most digitalized and digital-friendly country on the continent. At a civic
level, almost all interactions with the Danish authorities already take place level, almost all interactions with the Danish authorities already take place
online, and each citizen has a specific digital signature to endorse important online, and each citizen has a specific digital signature to endorse important
documents. documents.
The business community also benefits from this digitalization. With the The business community also benefits from this digitalization. With the The business community also benefits from this digitalization. With the
correct documentation, for instance, it is possible to set up a business and correct documentation, for instance, it is possible to set up a business and
have it officially operational within 24 hours. “Our government identified have it officially operational within 24 hours. “Our government identified have it officially operational within 24 hours. “Our government identified
the need to formulate a digitalization several years before anyone else,” says the need to formulate a digitalization several years before anyone else,” says
Per Tejs Knudsen, CEO and founder of cBrain. “What also differentiatesPer Tejs Knudsen, CEO and founder of cBrain. “What also differentiatesPer Tejs Knudsen, CEO and founder of cBrain. “What also differentiates
Denmark is this initiative came out of the Ministry of Finance, so it is driven Denmark is this initiative came out of the Ministry of Finance, so it is driven
by business needs rather than by the technology itself.”by business needs rather than by the technology itself.”by business needs rather than by the technology itself.”
Although Denmark’s recognition of the new technology’s importance Although Denmark’s recognition of the new technology’s importance Although Denmark’s recognition of the new technology’s importance
dates back decades, it took a significant leap forward in 2018 when thedates back decades, it took a significant leap forward in 2018 when the
government launched its Digital Growth Strategy aimed at establishing government launched its Digital Growth Strategy aimed at establishing government launched its Digital Growth Strategy aimed at establishing
Denmark as a digital hub. Denmark as a digital hub.This is now paying dividends as Danish companies lead the way in This is now paying dividends as Danish companies lead the way in
meeting the changing needs of companies in a post-COVID world. cBrain’s meeting the changing needs of companies in a post-COVID world. cBrain’s
F2 digital platform is but one example. Another is Impero’s compliance F2 digital platform is but one example. Another is Impero’s compliance F2 digital platform is but one example. Another is Impero’s compliance
management platform, which is fully in tune with the new zeitgeist. management platform, which is fully in tune with the new zeitgeist. management platform, which is fully in tune with the new zeitgeist.
“Everyone is talking about how they work differently,” says CEO Rikke “Everyone is talking about how they work differently,” says CEO Rikke “Everyone is talking about how they work differently,” says CEO Rikke
Stampe Skov. “The pandemic has created a new kind of company culture Stampe Skov. “The pandemic has created a new kind of company culture
and new ways of working that people would never have thought possible a and new ways of working that people would never have thought possible a
few years ago.” few years ago.”
Denmark’s business technology sector is playing a key role in stretching Denmark’s business technology sector is playing a key role in stretching Denmark’s business technology sector is playing a key role in stretching
the bounds of the possible and has emerged as one of the most digitally the bounds of the possible and has emerged as one of the most digitally
competitive in Europe. Its technology sector is now worth more than $10 competitive in Europe. Its technology sector is now worth more than $10 competitive in Europe. Its technology sector is now worth more than $10
billion and leads the way in fields as diverse as audio and sound, robotics, billion and leads the way in fields as diverse as audio and sound, robotics,
wireless and mobile technology, security, and encryption as well as software. wireless and mobile technology, security, and encryption as well as software. wireless and mobile technology, security, and encryption as well as software. wireless and mobile technology, security, and encryption as well as software.
In addition to their inventiveness, Denmark’s high-tech pioneers stand out In addition to their inventiveness, Denmark’s high-tech pioneers stand out
for what can best be described as their holistic approach to technological for what can best be described as their holistic approach to technological
innovation. “I think Europe needs its own tech giants -- organizations innovation. “I think Europe needs its own tech giants -- organizations
with European ethics and business culture instilled in their DNA,” says with European ethics and business culture instilled in their DNA,” says
Netcompany CEO André Rogaczewski. Netcompany CEO André Rogaczewski.
No doubt the Danes will be leading the way. No doubt the Danes will be leading the way.signed a partnership deal with KPMG in Canada,
also look like promising markets for the company.
Wherever Impero ventures next it will be guided
by the beliefs that have brought it so far in such
a short time. “It’s not just about the bottom line,”
says Skov. “Our vision is to help build a society
founded on transparency and trust. We believe
that compliance is crucial to a well-functioning
economy and society.”T
he pandemic has led to exponential
growth in employees working remotely.
That, coupled with a shift in the business
community toward ever-higher standards of
environmental, social, and governance (ESG)
criteria, has resulted in the compliance market
growing at a CAGR of approximately 13.5%. One
company that finds itself in a prime position to
benefit from this momentum is the Copenhagen-
based tech trailblazer Impero.
Established in 2013 by two Deloitte veterans,
this software-as-a-service (SaaS) company’s
digital compliance platform enables its clients to
manage compliance through the automation of
risk and control management, documentation,
and reporting. The software is intuitive, scalable
and – crucially -- user-friendly. “We’ve made it
extremely easy for large companies to work across
multiple areas, from tax and finance to ESG,”
says Impero’s CEO Rikke Stampe Skov, who took
up her position in 2018.
It’s no coincidence that Impero was founded
in Scandinavia, where the values of trust and
transparency are part of the corporate DNA.
“We empower companies to deliver on whatthey promise in terms of adhering to rules and
regulations and living up to their responsibilities,”
explains company chairman Jorgen Bardenfleth.
“Compliance is essential to a well-functioning
society and economy. It’s about protecting
stakeholders across the board.”
The relevance and ease of use of the
Impero platform has earned it a loyal client
base, especially, but not exclusively, among
companies committed to finance, tax, ESG and
IT compliance. It also has many admirers in the
investment community, as indicated by its IPO
last spring being 324% oversubscribed. Impero
concluded a hugely successfully year by signing
up Siemens Energy and thyssenkrupp, two of
Germany’s most prominent industrial giants.
They join Volkswagen, Maersk, GroupM and
Bertelsmann on its list of satisfied blue-chip
clients.
Both the chairman and CEO now have their
sights set on the markets of Northwestern Europe,
where there is a high degree of digitalization
and where the battle against corruption is being
fought in earnest. Over the longer term, Australia,
Japan, and North America, where Impero recentlyIMPERO – Building Trust and Transparency
Rikke Stampe Skov
CEO of IMPEROtime.com/specialsectionsCONTENT FROM THE INTELLIGENT INVESTOR