Sonicwall Market Segment Skin 160x1200

Sonicwall Market Segment Skin 160x1200

iTWire TV 705x108notfunny

Tuesday, 20 November 2018 12:10

TechnologyOne hails continuing growth, profits Featured

By
TechnologyOne hails continuing growth, profits Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Australian listed enterprise software company TechnologyOne has lifted profits for the 2018 financial year by 15% to $66.5 million over 2017.

TechnologyOne (ASX:TNE) said it was its ninth consecutive year of record revenues, licence fees and profit, with strong growth and profits underpinned by the fast growth of its enterprise SaaS solution.

TechnologyOne chief executive Edward Chung said, “Our SaaS offering is delivering a compelling value proposition for our customers providing them ‘any device, anytime access from anywhere around the globe’ as well as a simple and cost-effective way to run their enterprise.

“This is allowing our customers to innovate and meet the challenges ahead with greater agility and speed, without having to worry about underlying technologies. We take care of all of this, making life simple for them.

“Today, TechnologyOne is a Software as a Service (SaaS) company, though the market is yet to fully appreciate this fact given we started as a traditional ‘on premise’ software company.

“All new customers logos in FY18 were driven by TechnologyOne SaaS. We now have 347 large-scale enterprise customers, with hundreds of thousands of users, making it the largest single instance ERP SaaS offering in Australia. Our annual recurring revenue is growing very fast, at 20% per annum.”

Chung said TechnologyOne “continued to dominate in the local government sector, where we closed 11 new major deals with $80 million in contract revenue. We have more than 300 council customers and are continuing to grow fast”.

“TechnologyOne also continues to see strong growth in government with initial licence fee growing 17%.

“We continue to deliver exceptional projects at breakneck speed with several recent SaaS go lives being implemented in less than six weeks.

“The APAC region performed strongly with profit up 20%, underpinned by strong licence fee growth, significant turnaround in our consulting business and our market leading enterprise SaaS offering. We continued to invest strongly in the UK and remain excited about the significant opportunities for the coming years.

“We will continue to grow quickly, and like we have in the past 30 years, we expect to double in size again in the next 5 years.”  

TechnologyOne executive chairman Adrian Di Marco said: “TechnologyOne has consistently delivered strong and growing results since listing on the ASX in 1999. Our ability to deliver these results for 19 years has not relied on riding the cycle of the economy but it is because of our clear vision, strategy and our significant investment in R&D.

“TechnologyOne invested over $54 million in R&D this year. Our ability to successfully undertake large-scale cutting-edge R&D and to successfully commercialise it has underpinned our success. There are few companies in Australia that come close to the level of creativity and innovation at TechnologyOne.

“After many years of R&D investment, TechnologyOne SaaS is driving our strong results. We have today the market leading enterprise SaaS offering for the markets we serve.

“We continue to invest in new exciting ideas and innovation including Artificial Intelligence and Machine Learning, which we will ship in our 2019A release in the first half of 2019.”

Read 2151 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here
BACK TO LATEST NEWS here

GET READY FOR XCONF AUSTRALIA 2022

Thoughtworks presents XConf Australia, back in-person in three cities, bringing together people who care deeply about software and its impact on the world.

In its fifth year, XConf is our annual technology event created by technologists for technologists.

Participate in a robust agenda of talks as local thought leaders and Thoughtworks technologists share first-hand experiences and exchange new ways to empower teams, deliver quality software and drive innovation for responsible tech.

Explore how at Thoughtworks, we are making tech better, together.

Tickets are now available and all proceeds will be donated to Indigitek, a not-for-profit organisation that aims to create technology employment pathways for First Nations Peoples.


Click the button below to register and get your ticket for the Melbourne, Sydney or Brisbane event

GET YOUR TICKET!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Peter Dinham

Peter Dinham - retired in 2020. He is a 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).

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments