Software powerhouse continues incredible trajectory of its cloud business

Software powerhouse TechnologyOne (ASX:TNE) has posted another record year for its cloud business, recording more than 100 per cent year-on-year growth.

The growth follows the enterprise Software as a Service (SaaS) provider’s introduction of its sixth generation TechnologyOne Cloud, which establishes software mass production and a high level of automation.

“SaaS finally introduces the concept of mass production to the software industry. Much like mass production signalled the demise of the cottage industry in manufacturing, true SaaS solutions will replace the role of cloud hosting providers,” said TechnologyOne’s Executive Chairman Adrian Di Marco.

“That is why, rather than ‘lifting and shifting’ to the cloud like hosting providers, we've gone down the path of integrated mass production through SaaS. We are proud to be one of the only enterprise software providers that offer a fully-integrated and configurable enterprise SaaS offering.

“Our enterprise SaaS solution provides a compelling value proposition to our customers, giving them what is essentially a very simple, cost effective and highly scalable model of computing. We take complete responsibility to provide the processing power, software and services including backup, recovery, upgrade and support services for our cloud customers.

“We are part of an elite group of companies globally delivering true enterprise SaaS, making our software the premier enterprise cloud offering in Australia and New Zealand. We are also the only enterprise provider offering a fully configurable solution, with a mass production line of servers running our software for our customers.”

Mr Di Marco said the company’s enterprise SaaS solution was also unique in that it provided a multi-tenanted software environment, with a single-tenanted database for each customer.

“This enables customers to have their own configuration and peace of mind that their data is private and secured, while maintaining the benefits of economies of scale only available through a multi-tenanted SaaS solution,” he said.

The strength of TechnologyOne’s cloud solution has received significant market recognition in 2016, with the software provider winning Amazon’s 2016 Technology Partner of the Year, the UK Cloud Award for ERP Product of the Year, the 2016 SaaS award for Best SaaS Product for Non-Profits or Education and the 2016 Australian Business Award for Cloud Innovation.

TechnologyOne’s enterprise SaaS solution was also selected for several Australian Government Shared Services arrangements, and the company is listed as a preferred supplier on the Australian Government Cloud Services panel and UK Government G-Cloud panel.

“Our investment in the TechnologyOne Cloud remains a key focus for R&D, so we can capitalise on new technologies, concepts and ideas. We pass on the benefits of innovation only achievable through our economies of scale,” Mr Di Marco said.

“All major new customers this year were SaaS deals, reaffirming that customers are embracing our vision for cloud and mobile.

“Our cloud business is growing rapidly. This major uptake of the cloud by new and existing customers will see us continue to double this every year moving forward.”

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About TechnologyOne

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 eight key markets: government, local government, financial services, education, health and community services, asset intensive industries, project intensive industries and corporates. For these markets we develop, market, sell, implement, support and run our preconfigured solutions, which reduce time, cost and risk for our customers.

For 29 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.