Leading enterprise software company TechnologyOne reveals strong UK growth
TechnologyOne (ASX:TNE) announced its continued momentum in the UK with strong financial results and new public sector customer wins.
“As Australia’s largest enterprise software company, TechnologyOne has set its sights on global expansion and the UK is positioned to be one of our biggest growth regions,” said Roger Phare, UK Operating Officer, TechnologyOne. “In the last year we have secured a number of new customers, including six in the public sector. We continue to seek customers in this area, as it is where our heritage and expertise lies.”
New customers include Aylesbury Vale District Council, Scottish Borders Council Aged Care, Edinburgh and East Dunbartonshire Leisure Centres, New College Lanarkshire, and University of Lincoln.
“Our customers have partnered with us to take advantage of our innovation, creativity and ongoing investment in new and emerging technologies. Increasingly, our enterprise Software as a Service (SaaS) solution is being recognised as a way to easily take advantage of these technologies, without adding complexity,” said Phare.
TechnologyOne’s Executive Chairman, Adrian Di Marco said the company’s true cloud model provides customers with enormous economies of scale and a future proof solution in a way that hosting providers will never be able to do.
“As the cloud computing industry matures, organisations are increasingly avoiding the dirty hosting approach - software that is ‘lifted and shifted’ into a hosting environment - and choosing vendors that can deliver a complete enterprise Software as a Service (SaaS) offering,” Mr Di Marco said.
“With Enterprise SaaS, our customers no longer have to worry about the complexity of running or updating their software and infrastructure, because we take care of all of that for them. By removing the burden of managing their computing environment, we enable them to focus on running their business.”
The next phase of the TechnologyOne Cloud will provide a massively scalable platform with significant economies, delivering customers an even stronger competitive advantage.
Further strengthening TechnologyOne’s position, is its results for the half year ending 31 March 2015, posting a half year result which is in line with the market guidance provided at the start of this financial year. Revenue was up 3% to $90 million (£45.5 million), with annual cloud contract value growing by 100% to $A4.1 million (£2.1 million).
“TechnologyOne is well positioned for continuing strong profit growth of 10% to 15% over the 2015 full year based on the strength of our sales pipeline for the second half, which will also see strong licence fee growth over the full year,” said Mr Di Marco.
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TechnologyOne (ASX:TNE) is Australia's largest enterprise software company and one of Australia's top 200 ASX-listed companies, with offices across six countries. We create solutions that transform business and make life simple for our customers. We do this by providing powerful, deeply integrated enterprise software that is incredibly easy to use. Over 1,000 leading corporations, government departments and statutory authorities are powered by our software.
We participate in only seven key markets: government, local government, financial services, education, health and community services, utilities and managed services. For these markets we develop, market, sell, implement, support and run our preconfigured solutions, which reduce time, cost and risk for our customers.
For 27 years, we have been providing our customers enterprise software that evolves and adapts to new and emerging technologies, allowing them to focus on their business and not technology. Today, our software is available on the TechnologyOne Cloud and across smart mobile devices.
For further information please visit: TechnologyOneCorp.co.uk