Home Industry Listed Tech TechnologyOne continues on growth path

Listed-software company, TechnologyOne, has reported strong growth and net profit up 16% to $35.1 million for the full year to the end of September.

TechnologyOne (ASX:TNE) reports that the results marked the company’s tenth consecutive year of record revenues and licence fees, and that strong customer retention and satisfaction rates also saw recurring Annual Licence Fees grow by 14%.

TechnologyOne Executive Chairman Adrian Di Marco said: “Amid the many reports of failed, multi-million dollar ERP implementations, TechnologyOne continues to successfully deliver its projects and achieve strong growth in our seven key vertical markets in Australia and New Zealand.

“Some of the key wins this year included replacing Oracle at 21 Western Australian Government departments and agencies with our OneGovernment solution; replacing Oracle JD Edwards at Toowoomba Council with OneCouncil; and a combined TechnologyOne Cloud and OneCommunity sale to Queensland Police Citizens Youth Welfare Association (QPCYWA).

“These wins clearly reflect the market’s need for solutions which dramatically reduce the time, cost and risks associated with large scale enterprise-wide systems implementations. We continue to see more organisations rejecting the failing business model of resellers and integration partners, typical of our multinational competitors, and buying into our Power of One and preconfigured solutions philosophy.

“Because we take complete responsibility for all aspects of our enterprise solution, we are 100% accountable for the success of our customers’ implementations.”

TechnologyOne reports that research & development also continued to be a significant investment for TechnologyOne at $35.6 million for the full year, up 6%, and continues to be below the target of 8% per annum set in 2011.

“With the release of our next generation of the TechnologyOne Enterprise Suite, Ci, in 2014, momentum in new licence fees will increase in future years,” said Di Marco.

“A key focus of Ci is to incorporate smart mobile devices including iPad, iPhone and Android devices natively into our product. Our intention is that all of our enterprise software will be able to operate on all smart mobile devices. This will open up a new world of possibilities for our customers, allowing them to abandon the traditional PC/laptop model of computing and access their data from anywhere in the world and at any time.”

The company says that a focus has been the TechnologyOne Cloud, which is delivering the TechnologyOne Enterprise Suite through the cloud to its customers. “TechnologyOne Cloud has seen the company take complete responsibility to provide a simple, cost effective and elastic model of computing. The TechnologyOne Cloud will become a new major platform for growth, with strong demand building up over the coming years.”

Di Marco says that TechnologyOne’s R&D program “continues to be at the leading edge of our industry, as we embrace new technologies, new concepts and new paradigms, such as the cloud and smart mobile devices.

“Our strategy is to embrace new innovations and consumer concepts to deliver powerful enterprise software that is incredibly simple to use. The level of innovation and creativity is greater than at any time in our company’s 26-year history,” Di Marco concludes.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

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