In a statement, chief executive Ed Chung said the department would be able to use what he described as "the transformative benefits of software as a service, including strong cyber security and software that always has the latest features".
"This win is another proof point of the longevity of our 33 year journey and 99% customer retention, as we continue to deliver technology which is innovative and future-proof," he said.
"The Department of Agriculture's new finance solution will be deployed into TechnologyOne's IRAP PROTECTED assessed SaaS solution, providing materially higher cyber security posture at no additional cost.
"As an Australian company, we are proud that our platform will find immediate efficiencies and modernise back end processes, providing important improvements for hardworking staff on the front line.
"It is pleasing to see our long-term investment in becoming IRAP assessed, along with our continued commitment to data sovereignty, will support to the Government at this time."
The company has been doing business with the government sector for some time and recently was involved in design and implementation of e-invoicing with the Department of Treasury.