TechnologyOne has reported strong growth in its software-as-a-service business, playing down the struggle with a major local government customer that has made headlines for several months.
The positive news comes just days after a major deal with the Brisbane City Council was terminated after a drawn out public dispute between the IT firm and the council around a troubled critical systems overhaul. Lawsuits are expected to follow.
The firm highlighted several multi-million dollar contracts from “marquee” customers, including major wins with the University of Sussex, the Inner West Council in Australia and the first Central Government Agency in New Zealand. The three projects are expected to go live within the next 12 months and expand the company’s footprint of more than 1000 customers, according to TechOne.
Chief executive Edward Chung said the firm’s SaaS business had “almost doubled” in the past 12 months.
“Our strong growth is expected to continue; we estimate our annual contract revenue to increase by more than 90 percent over the year with many existing customers migrating their solutions to our cloud,” he said.
“The mass production approach we take to our enterprise SaaS offering is unparalleled and our customers are voting with their feet. 80 percent 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.”
University of Sussex academic registrar Sharon Jones said TechnologyOne’s student management product delivered quality services for students and staff.
“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,” she said.
“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.”