The IRD’s approval exempts TechnologyOne (ASX:TNE) customers from data sovereignty rules requiring financial records to be stored in New Zealand.
TechnologyOne Executive Chairman Adrian Di Marco says the IRD’s approval to store New Zealand data in Australia “is a significant milestone for TechnologyOne.”
“There are now no barriers to delivering our enterprise Software as a Service to our customers in New Zealand.
“When we fix it problem, make an enhancement or add a new feature for one customer, hundreds and thousands of customers benefit - we do it once and everyone gets the benefit. This leads to economies of scale and long term strategic benefits not achievable by hosting providers.”
Di Marco says TechnologyOne stores data for its customers in two data centres in ‘active/active’ configuration, and this secure model “provides customers with highly available infrastructure, while removing the need for excessive associated disaster recovery costs.”
“The TechnologyOne Cloud delivers the TechnologyOne enterprise software as a service to our customers in a high performing, reliable and secure manner. Infrastructure projects, physical security and disaster recovery were daily concerns of IT departments and CFOs. Now, their only concern is who should have access to the software.”
According to Di Marco, cloud computing is a widely used and misunderstood term. “It is a confusing term because it is used universally to categorise everything from simple hosting and outsourced infrastructure solutions, to complete Software as a Service solutions.”
“Companies such as Google, Facebook and Salesforce have become leaders in the cloud, because they develop and run their own software, and continually invest to improve it. It’s called Software as a Service.
“In the same way, we build, run and optimise our software to run our software as a service on the TechnologyOne Cloud. We have always developed, sold and maintained all our software - now, we are accountable for running it on the cloud too. This enables our customers to focus on their business - not the technology.”
The TechnologyOne Cloud was officially launched at the company’s Evolve user conference in February and, according to Di Marco, has been met with “an unprecedented level of interest.”