TechnologyOne adds corporate performance management to its arsenal
Technology One Limited (ASX: TNE), a leading Australian provider of enterprise business software solutions, has acquired the technology of Brisbane-based vendor, OutcomeManager.
OutcomeManager’s software of the same name is the company’s web-enabled strategic planning and corporate performance management (CPM) solution.
TechnologyOne has been delivering the OutcomeManager solution to its customers for almost three years as “TechnologyOne Performance Planning” and the company is planning to expand the development team to rapidly extend the capabilities of the solution. The OutcomeManager solution will continue to be known as “TechnologyOne Performance Planning”.
By combining the corporate performance management software with its budgeting and business intelligence products, TechnologyOne is now able to deliver a more complete strategy-to-execution offering to the business intelligence marketplace.
The solution will particularly appeal to organisations which need to develop strategies for establishing, tracking, managing and measuring initiatives aimed at complying with environmentally sustainable business requirements.
“The main reason for our latest acquisition is the immediate opportunities it offers us to cross-sell the corporate performance management software to customers at a Local, State and Federal Government level. We can also see the benefits it will offer our customers in the education, health and corporate sectors,” TechnologyOne Executive Chairman, Adrian Di Marco, said.
“This planning and performance management solution maps and prioritises activities and outcomes. It also automates and monitors implementation of those activities so users can accurately assess the outcomes which have been achieved.”
“An immediate focus will be to develop this into an end-to-end risk and sustainability management solution to track carbon emission reduction efforts, and to view the ongoing management and visibility of risk in major projects.
“With compliance and measurement emerging as a major focus for government, this software can be used as a key driver to help manage and track the performance of organisations in this sector.”
“When we demonstrate this product to customers, every single one of them says: ‘We need that’ because it delivers major efficiencies in the management and execution of strategic plans. For this reason we are extremely confident about using the product to broaden our presence in key markets.”
TechnologyOne plans to assume responsibility for delivery and support of the solution with all Outcome Manager’s existing customers, under terms similar to those they have negotiated with their previous providers.
This is TechnologyOne’s second acquisition in less than 12 months. In October last year, it acquired Australian enterprise content management (ECM) company, Avand Pty Ltd.
The main benefits of the software include its ability to improve efficiencies in strategic planning management and to provide cost savings to organisations by:
- Accurately monitoring the planning process
- Directly aligning resources, projects and/or services with a strategic or operational organisational plan
- Aligning plans to the overall corporate vision statements, producing a ‘top-down’ capability for reporting
- Providing organisations with the tools to slice and dice data for reporting purposes, aligning the elements by hierarchical components and functions to allow the user to enter once and report many times
- Allowing users to clearly define business requirements through a flexible and user-defined solution that is fully integrated with the total TechnologyOne solution suite.
“Because of the close partnership we had with Outcome Manager, the OutcomeManager solution that we branded as TechnologyOne Performance Planning already operates in our Connected Intelligence environment and all our further development will be on this platform,” Mr Di Marco said.
Ci is TechnologyOne’s latest technology platform and almost 70 per cent of its customers have moved to it since it was launched just over two years ago.
As one of the most exciting outcomes of TechnologyOne’s $75 million investment in research and development over the past seven years, Ci is a new generation platform that combines the best of client server and Internet technology, enabling swift and automatic deployment of any TechnologyOne solution.