TechnologyOne

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Technology One Ltd
TypePublic
ASX: TNE
IndustrySoftware development
Founded1987
FounderAdrian Di Marco
Headquarters
Brisbane
,
Australia
Number of locations
14[1]
Area served
Australia, Malaysia, New Zealand, United Kingdom, South Pacific
Key people
Edward Chung (CEO)
ProductsCommercial support software
ServicesBusiness support
Project management
Consulting[2]
RevenueIncreaseA$299 million (2020)[3]
IncreaseA$66 million (2020)[3]
Number of employees
1200[4]
Websitetechnologyonecorp.com

TechnologyOne Limited is an Australian enterprise software company founded in 1987. The company is headquartered in Fortitude Valley in Brisbane, Australia, with other offices in United Kingdom (UK), New Zealand, South Pacific and Asia.[3] It is listed on the Australian Securities Exchange with the symbol TNE and is a constituent of the ASX 200 index.

History[]

TechnologyOne was founded by Adrian Di Marco in 1987, when saw an opportunity to build a new generation of accounting software for businesses and government departments, using relational database technology.[5] DiMarco approached investors John and Dugald Mactaggart of J.L. Mactaggart Industries, a former customer, for financial backing.[6]

TechnologyOne set up its first R&D centre in a demountable office in the car park at Mactaggart’s hide processing plant in Hemmant, Brisbane.in 1987.[7] In the early 1990s, TechnologyOne built the Automated Titling System (ATS) for the Queensland Department of Natural Resource and Mines.[8]

In 1992, TechnologyOne developed a student administration system called College Administration System (CAP) for TAFE Queensland, which led to the development of StudentOne (now TechnologyOne Student Management), used by Australian universities.[9] The company also expanded in New Zealand.[10]

TechnologyOne was listed on the Australian Securities Exchange in 1999.[11] In October 2000, the company raised $18 million from investors including Hyperion Asset Management, Selector Funds Management, Pendal Group, Spheria Asset Management, Colonial First State, River Capital and Pengana.[12]

In 2005, TechnologyOne shifted focus from functionality-centric software to people-centric software.[13] In 2006, it expanded in UK with its first office in Maidenhead.[14]

In 2014, TechnologyOne entered the S&P/ASX 200 Index and recorded $1 billion market capitalization.[15]

In May 2017 Di Marco stepped down as CEO and COO, Edward Chung, took over as CEO.[16][7][17] At the company’s full year results on 21 November 2017, the company’s cloud business turned a profit for the first time, posting a $2.5 million profit for the year to September, and signing 112 new cloud customers.[18]

In 2019, the company announced that it had reached $300 million of annual revenues.[19] In 2020, the company announced that half of its customers had transitioned from on-premise to SaaS[20] and that 86% of its revenue is now subscription revenue.[3]

In 2021, TechnologyOne CEO Edward Chung announced the companies first patron saint - St Peter.

Software as a service[]

Since 2012, the company has transitioned the business from being an on-premises software provider to a software as a service business.[21] This has enabled clients to integrate[22] with third party providers such as MuleSoft and Salesforce.

The first iteration of TechnologyOne’s cloud software was launched in 2014, which enabled users to access the platform via the cloud. This allows the company to offer a fully configurable service from its own servers.[19]

TechnologyOne products are used by more than 1,200 organisations in Australia and New Zealand. The company also has customers in the United Kingdom.[23] By 2018, more than 30 per cent of TechnologyOne customers had transitioned to the company’s SaaS platform.[24]

Acquisitions[]

 TechnologyOne 
 
 
 
 
 
 
 
 
 
 

Company founded in 1987

 
 
 
 
 

Tablelands Computer Systems[8]
January 2000

 
 
 
 
 

ProClaim Software Pty Ltd[25]
A$10.6 million
6 December 2000

 
 
 
 
 

Infoplan[8]
March 2002

 
 
 
 
 

Avand Pty Ltd[5]
A$10 million
1 October 2007

 
 
 
 
 

Outcome Manager[26]
A$1 million
1 August 2008

 
 
 
 
 

ICON Software[27]
A$10 million
30 January 2015

 
 
 
 
 

Digital Mapping Solutions[28]
A$12 million
8 May 2015

 
 
 
 
 

Jeff Roorda & Associates[29]
A$10 million
2 October 2015

 
 
 

References[]

  1. ^ "Office Locations". TechnologyOne.
  2. ^ "Services". TechnologyOne.
  3. ^ a b c d "FY20 Annual Report" (PDF).
  4. ^ Annual Report (PDF) (Report). TechnologyOne.
  5. ^ a b Bingemann, Mitchell (12 October 2007). "TechnologyOne acquires Avand for $10 million". iTnews. ITWire.
  6. ^ "How this man built a $250 million IT company". Business News Australia. 28 January 2011.
  7. ^ a b Redrup, Yolanda (7 April 2017). "TechnologyOne CEO Adrian Di Marco steps down after 30 years". Financial Review.
  8. ^ a b c "TechnologyOne Book 2017". Issuu. 7 January 2018.
  9. ^ Bryant, Gale (20 July 1998). "'Technological cringe' leaves industry at a loss, says IT boss". Australian Financial Review.
  10. ^ O'Neill, Rob (19 November 2019). "TechOne surges in New Zealand as SaaS drives sales overall". Reseller News.
  11. ^ "TechnologyOne Limited details". Archived from the original on 4 March 2016.
  12. ^ Tuner, Sarah; Richardson, Tom (24 April 2020). "Hyperion leads the Mercer long-only pack". Australian Financial Review.
  13. ^ Swan, David (25 November 2014). "TechnologyOne posts record profit". The Australian.
  14. ^ Woodhead, Ben (28 February 2006). "Profit paves the road for UK push". Australian Financial Review.
  15. ^ "The ASX's largest software company Technology One Limited nears 52-week high". Fool.com.
  16. ^ Redrup, Yolanda (18 January 2016). "TechnologyOne CEO Adrian Di Marco prepares to pass the baton". The Sydney Morning Herald.
  17. ^ McLean, Asha (7 April 2017). "TechnologyOne CEO and founder hands reins to current COO | ZDNet". ZDNet.
  18. ^ "TechnologyOne cloud captures $2.5M profit". Arnnet.com.
  19. ^ a b Foye, Brendon (20 November 2018). "TechnologyOne scrapes $300 million milestone thanks to SaaS platform". CRN. Australia. Retrieved 8 July 2019.
  20. ^ Chanthadavong, Aimee (16 November 2015). "TechnologyOne inks AU$5.8 million deal with Department of Treasury". ZDNet.
  21. ^ Herrick, Chloe (22 February 2012). "Evolve 2012: TechnologyOne invests $200m in new Cloud platform". CIO from IDG. Retrieved 8 July 2019.
  22. ^ "TechnologyOne rips out Vic council legacy enterprise system". ARN. Retrieved 6 June 2020.
  23. ^ Williams, Shannon (20 June 2019). "TechnologyOne launches STEAM Lab pilot launch in Queensland". IT Brief. Australia. Retrieved 8 July 2019.
  24. ^ Thomson, James (25 November 2018). "Cloud shift helps Technology One float above tech damage". Australian Financial Review. Retrieved 8 July 2019.
  25. ^ Swan, Georgina. "Technology One ProClaims acquisition ambitions". Computerworld. Retrieved 14 June 2016.
  26. ^ Sainsbury, Matthew. "Technology One acquires Brisbane ISV". ARN. Retrieved 12 August 2008.
  27. ^ Dinham, Peter. "TechnologyOne buying ICON Software in $10 million deal". iTWire. Retrieved 30 January 2015.
  28. ^ Redrup, Yolanda. "TechnologyOne acquires Digital Mapping Solutions for $12m". Financial Review. Retrieved 8 May 2015.
  29. ^ Redrup, Yolanda. "TechnologyOne acquires Jeff Roorda and Associates for $10 million". Financial Review. Retrieved 2 October 2015.

External links[]

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