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TechnologyOne Limited is an Australian
enterprise software Enterprise software, also known as enterprise application software (EAS), is computer software used to satisfy the needs of an organization rather than individual users. Such organizations include businesses, schools, interest-based user groups, ...
company founded in 1987. The company is headquartered in Fortitude Valley in
Brisbane Brisbane ( ) is the capital and most populous city of the Australian state of Queensland, and the third-most populous city in Australia and Oceania, with a population of approximately 2.6 million. Brisbane lies at the centre of the South ...
, Australia, with other offices in United Kingdom (UK), New Zealand, South Pacific and Asia. It is listed on the
Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...
with the symbol TNE and is a constituent of the
ASX 200 The S&P/ASX 200 index is a market-capitalization weighted and float-adjusted stock market index of stocks listed on the Australian Securities Exchange. The index is maintained by Standard & Poor's and is considered the benchmark for Australi ...
index.


History

TechnologyOne was founded by
Adrian Di Marco Adrian Di Marco (born 1958) is an Australian entrepreneur and businessman. He is the founder and Executive Chairman of TechnologyOne, Australia's largest enterprise software company. Early life and career Di Marco was born in Brisbane in 1958, ...
in 1987, when he saw an opportunity to build a new generation of accounting software for businesses and government departments, using
relational database A relational database is a (most commonly digital) database based on the relational model of data, as proposed by E. F. Codd in 1970. A system used to maintain relational databases is a relational database management system (RDBMS). Many relati ...
technology. DiMarco approached investors John and Dugald Mactaggart of J.L. Mactaggart Industries, a former customer, for financial backing. 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 Brisbane ( ) is the capital and most populous city of the Australian state of Queensland, and the third-most populous city in Australia and Oceania, with a population of approximately 2.6 million. Brisbane lies at the centre of the South ...
, in 1987. In the early 1990s, TechnologyOne built the Automated Titling System (ATS) for the Queensland Department of Natural Resource and Mines. In 1992, TechnologyOne developed a student administration system called College Administration System (CAP) for
TAFE Queensland TAFE Queensland is the statutory authority parent body for TAFE technical and further education training in the Australian state of Queensland. Established in 1882, TAFE Queensland is one of Australia's largest education providers with 120,00 ...
, which led to the development of StudentOne (now TechnologyOne Student Management), used by Australian universities. The company also expanded in New Zealand. TechnologyOne was listed on the
Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...
in 1999. 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. In 2005, TechnologyOne shifted focus from functionality-centric software to people-centric software. In 2006, it expanded in UK with its first office in Maidenhead. In November 2010, TechnologyOne announced it would make its software available on the cloud. The company invested heavily in
research and development Research and development (R&D or R+D), known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products, and improving existi ...
to transition its software functionalities into the cloud, spending $150 million to develop its software-as-a-service cloud products. It also released Ci Anywhere, a version of its Connected Intelligence product hosted in the cloud and available from any desktop or mobile device. In 2014, TechnologyOne entered the
S&P/ASX 200 The S&P/ASX 200 index is a market-capitalization weighted and float-adjusted stock market index of stocks listed on the Australian Securities Exchange. The index is maintained by Standard & Poor's and is considered the benchmark for Australi ...
Index and recorded $1 billion
market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...
. In May 2017 Di Marco stepped down as CEO and COO, Edward Chung, took over as CEO. 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. In 2019, the company announced that it had reached $300 million of annual revenues. It also added Cliff Rosenberg, formerly managing director of
LinkedIn LinkedIn () is an American business and employment-oriented online service that operates via websites and mobile apps. Launched on May 5, 2003, the platform is primarily used for professional networking and career development, and allows job se ...
, to its board of directors. By December 2019, half of TechnologyOne's business was in the cloud; From 1999 to 2019, TechnologyOne doubled in size every five years. In 2020, the company announced that half of its customers had transitioned from on-premise to SaaS and that 86% of its revenue is now subscription revenue. As of May 2020, the company had posted 11 years of record annual profit. In September 2021, the company made their first international acquisition by acquiring UK-based higher education software company Scientia for £12 million.


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 Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is co ...
business. This has enabled clients to integrate with third party providers such as
MuleSoft MuleSoft, LLC. is a software company headquartered in San Francisco, California, that provides integration software for connecting applications, data and devices. Started in 2006, the company's Anypoint Platform of integration products is designe ...
and
Salesforce Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, a ...
. 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. TechnologyOne products are used by more than 1,200 organisations in Australia and New Zealand. The company also has customers in the United Kingdom. By 2018, more than 30 per cent of TechnologyOne customers had transitioned to the company’s SaaS platform.


Research and Development

In 2010, TechnologyOne moved into its new $12 million headquarters in Brisbane, which included what was at the time the largest Australian-owned research and development facility. The company has additional international R&D facilities. As of June 2019, the company had invested more than $500 million into research and development since its inception. As of 2021, research largely focuses on developing additional functionalities for TechnologyOne's software-as-a-service enterprise resource planning software. It is also creating applications for artificial intelligence and developing a digital experience platform, intended to integrate
front and back office application A front office application is any software that has a direct relation to customers. It provides functionality and data necessary to take orders, configure complex products and provide effective service and support to customers. It includes customer ...
s.


List of mergers and acquisitions

TechnologyOne was founded in 1987.


References


External links

* {{S&P/ASX 200 Companies based in Brisbane Software companies of Australia Australian companies established in 1987 Companies listed on the Australian Securities Exchange Australian brands