TechnologyOne donates more than $260k to alleviate youth poverty

BRISBANE, Australia – 12 October 2018 – Leading enterprise Software as a Service provider, TechnologyOne (ASX:TNE), has donated $267K to four of its strategic TechnologyOne Foundation charity partners, further accelerating progress towards its ambitious goal of freeing 500,000 children and their families from poverty.

The TechnologyOne Foundation charity partner recipients are Opportunity International Australia, The Fred Hollows Foundation, The School of St Jude, and The Salvation Army. All four charities attended a company-wide event at TechnologyOne’s Brisbane-based headquarters today to accept donation cheques from TechnologyOne CEO, Mr Ed Chung.

The focus of the TechnologyOne Foundation is investment in youth, because it is through the youth we can have the greatest impact on the future. Furthering that commitment, the company has also announced two new three-year partnerships with The School of St Jude and The Salvation Army totalling more than $300k.

Earle Johnston, Development Manager, Queensland of The Salvation Army said the ongoing financial commitment from TechnologyOne would literally save lives and create better futures for many of Australia’s disadvantaged youth.

Gemma Sisia, Founder of The School of St Jude said “Everybody here at The School of St Jude loves the relationship that we have with TechnologyOne because we all feel it gives our students a huge advantage with graduating and gives them true access to the global community”.

Mr Chung said the TechnologyOne Foundation is all about giving back to communities and forms an integral part of the company’s DNA. It is also underpins TechnologyOne’s ‘1% Pledge’, that is a commitment of 1% Profit, 1% Product and 1% Time toward its charitable goals.

“We’ve set an ambitious goal of freeing 500,000 children and their families from poverty and, while TechnologyOne can help with much needed funding and thousands of volunteering days each year, it’s the amazing work of our strategic charity partners that is truly making an impact,” Mr Chung said.

TechnologyOne’s partnership with Opportunity International Australia sees it provide small loans (microfinance) to women in India to enable families to grow businesses, earn extra incomes, and break the intergenerational poverty cycle.

“We are a year into our partnership with OIA and already we have assisted more than 12,000 children and their families out of poverty,” Mr Chung said. “Since 98 percent of these small loans are repaid and then re-lent to other families, the impact creates a ripple effect within communities.

“The TechnologyOne Foundation is also one year into its partnership with The Fred Hollows Foundation and over that time we have already assisted 13,000 children through the Vietnam Child Eye Care Program. Over 20 percent of Vietnamese school children are impacted by visual impairment, yet two-thirds of vision impaired children have never received an eye examination or wear glasses,” he said.

The School of St Jude and The Salvation Army will invest ongoing funds into initiatives specifically focused on youth. The School of St Jude will further develop its STEM and eLearning programs, and The Salvation Army will deliver a number of disadvantaged youth programs across Australia.

“It’s extremely rewarding to see real change in action as a result of the work we’re doing and the investments being made by the TechnologyOne Foundation. We’re really proud of what we’ve achieved so far,” said Mr Chung.

About the TechnologyOne Foundation

TechnologyOne established the TechnologyOne Foundation in 2016 to make a sustainable impact with measurable long-term benefits, by focusing on empowering disadvantaged youth to transform their lives. Its initiatives recently received a nod from the Australian Business Awards, with the TechnologyOne Foundation taking home the award for Community Contribution. TechnologyOne also ranked in the Top 40 Workplaces to Give Back in 2018.