TechnologyOne exceeds SaaS growth targets again
Software giant continues multi-million dollar wins globally in Education, Local Government and Federal Government sectors.
Brisbane, 31 July, 2017 -- TechnologyOne (ASX:TNE), Australia’s largest enterprise resource planning (ERP) Software as a Service (SaaS) provider, announces continued success with its enterprise SaaS offering as the Company captured several multi-million dollar contracts from marquee customers in the quarter.
Major project wins align with TechnologyOne’s vertical markets and regions - the University of Sussex in the United Kingdom, Inner West Council in Australia and the first Central Government Agency in New Zealand. The deals forge new relationships that will expand TechnologyOne’s footprint of more than 1,000 customers with market-leading brands.
Edward Chung, Chief Executive Officer of TechnologyOne, says the company’s SaaS business has almost doubled in size in the last 12 months.
“Our strong growth is expected to continue; we estimate our annual contract revenue to increase by more than 90 per cent over the year with many existing customers migrating their solutions to our cloud,” said Mr Chung.
“The mass production approach we take to our enterprise SaaS offering is unparalleled and our customers are voting with their feet. 80 per cent of customers surveyed* agreed that SaaS is the future for enterprise software.
“Unlike companies such as Workday, TechnologyOne is the only SaaS provider with a fully integrated ERP suite; a future-proof solution for customers,” Mr Chung said.
The University of Sussex’s Academic Registrar Sharon Jones equates using the most up-to-date technology, TechnologyOne’s Student Management product, as consistent with their own approach to delivering excellent services for students and staff that deliver value for money.
“We sought to partner with a vendor that demonstrated a commitment to achieving the University’s goals, but also the capability to deliver a strong student experience.”
“Working with TechnologyOne enables us to deliver a strong student experience via self-service, and its user-friendly and intuitive cloud-based platform is accessible via any device,” Mrs Jones said.
Speaking of the wins, Chung says they validate TechnologyOne has the right solutions to meet specific vertical market needs and customers’ business objectives.
“In today’s digitally disruptive business environment, these new contracts represent significant commitment by leaders in their industries to embrace the new cloud-first, mobile-first enablement offered by Australia’s largest ERP SaaS provider,” Mr Chung said.
All three projects are expected to go-live within the next 12 months.
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*TechnologyOne surveyed 242 customers in Sydney, Melbourne and Brisbane about their attitudes towards SaaS in April 2017.
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