TechnologyOne
{{short description|Australian software development company}}
{{Use Australian English|date=June 2020}}
{{Use dmy dates|date=August 2019}}
{{Infobox company
| name = Technology One Ltd
| logo = TechnologyOne - logo.svg
| type = Public
| traded_as = {{ASX|TNE}}
| founded = {{start date and age|1987}}
| founder = Adrian Di Marco
| location_city = Brisbane
| location_country = Australia
| locations = 14{{cite web|url=http://www.technologyonecorp.com/OfficeLocations|website=TechnologyOne|title= Office Locations}}
| area_served = Australia, Malaysia, New Zealand, United Kingdom, South Pacific
| key_people = Edward Chung (CEO)
| industry = Software development
| products = Commercial support software
| services = Business support
Project management
Consulting{{cite web|url= https://www.technologyonecorp.com/services
|website=TechnologyOne|title= Services}}
| revenue = $312 million
| revenue_year = 2021
| income_year =
| net_income = $73 million
| net_income_year = 2021
| num_employees = 1,200
| num_employees_year = 2021
| parent =
| divisions =
| homepage = {{url|technologyonecorp.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, New Zealand, South Pacific and Asia. It is listed on the Australian Securities Exchange.
History
TechnologyOne was founded by Adrian Di Marco in 1987, when he saw an opportunity to build a new generation of accounting software for businesses and government departments, using relational database technology.{{cite web |last=Bingemann|first=Mitchell|series=ITWire|date=October 12, 2007|title=TechnologyOne acquires Avand for $10 million |url=http://www.itnews.com.au/News/94434,technologyone-acquires-avand-for-10-million.aspx |website=iTnews}} DiMarco approached investors John and Dugald Mactaggart of J.L. Mactaggart Industries, a former customer, for financial backing.{{cite web |title=How this man built a $250 million IT company |url=http://www.businessnewsaus.com.au/articles/exclusive--how-this-man-built-a--250m-it-company.html |website=Business News|date=January 28, 2011}}
TechnologyOne set up its first research & development centre in a demountable office in the car park at Mactaggart's hide processing plant in Hemmant, Brisbane, in 1987. In the early 1990s, TechnologyOne built the Automated Titling System (ATS) for the Queensland Department of Natural Resource & Mines.{{Cite web |date=16 January 2023 |title=Annual Report 2022 |url=https://www.listcorp.com/asx/tne/technology-one-limited/news/annual-report-to-shareholders-2824499.html |access-date=2025-04-09 |website=Listcorp}}
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.{{cite news |last1=Bryant |first1=Gale |title='Technological cringe' leaves industry at a loss, says IT boss |url=https://www.afr.com/companies/technological-cringe-leaves-industry-at-a-loss-says-it-boss-19980720-kb3ou |work=Australian Financial Review |date=20 July 1998 |language=en}} The company also expanded in New Zealand.{{cite news |last1=O'Neill |first1=Rob |title=TechOne surges in New Zealand as SaaS drives sales overall |url=https://www.reseller.co.nz/article/668792/techone-surges-new-zealand-saas-drives-sales-overall/ |work=Reseller News |date=19 November 2019}}
TechnologyOne was listed on the Australian Securities Exchange in 1999.{{cite web|url=http://www.asx.com.au/asx/research/company.do#!/TNE/details|title=TechnologyOne Limited details|archive-url=https://web.archive.org/web/20160304230436/http://www.asx.com.au/asx/research/company.do#!/TNE/details |archive-date=2016-03-04 }} 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.{{cite news |last1=Tuner |first1=Sarah |last2=Richardson |first2=Tom |title=Hyperion leads the Mercer long-only pack |url=https://www.afr.com/markets/equity-markets/hyperion-leads-the-mercer-long-only-pack-20200423-p54mft |work=Australian Financial Review |date=24 April 2020 |language=en}}
In 2005, TechnologyOne shifted focus from functionality-centric software to people-centric software.{{cite news |last1=Swan |first1=David |title=TechnologyOne posts record profit |url=https://www.theaustralian.com.au/business/business-spectator/technologyone-posts-record-profit/news-story/dcf0ef9135e65a83ef54b0ec956aa737 |work=The Australian |date=25 November 2014}} In 2006, it expanded in UK with its first office in Maidenhead.{{cite news |last1=Woodhead |first1=Ben |title=Profit paves the road for UK push |url=https://www.afr.com/technology/profit-paves-the-road-for-uk-push-20060228-jfurn |work=Australian Financial Review |date=28 February 2006 |language=en}}
In November 2010, TechnologyOne announced it would make its software available on the cloud.{{cite news |last1=Ho |first1=Colin |title=TechnologyOne announces cloud strategy |url=https://www.zdnet.com/article/technologyone-announces-cloud-strategy/ |archive-url=https://web.archive.org/web/20201028042119/https://www.zdnet.com/article/technologyone-announces-cloud-strategy/ |url-status=dead |archive-date=28 October 2020 |access-date=3 February 2022 |work=ZDNet |date=15 November 2010 |language=en}} The company invested heavily in research and development to transition its software functionalities into the cloud,{{cite news |last1=Lohman |first1=Tim |title=R&D central to TechnologyOne's Cloud transition |work=Computerworld |date=23 May 2011}}{{cite news |last1=Boreham |first1=Tim |title=Feet firmly on ground while eyeing the cloud |work=The Australian |date=7 May 2012}} spending $150 million to develop its software-as-a-service cloud products.{{cite news |last1=Boreham |first1=Tim |title=Head in the clouds, but there's lots of blue sky |work=The Australian |date=28 May 2014}} It also released Ci Anywhere,{{cite news |last1=Swan |first1=David |title=TechnologyOne posts record profit |url=https://www.theaustralian.com.au/business/business-spectator/technologyone-posts-record-profit/news-story/dcf0ef9135e65a83ef54b0ec956aa737 |work=The Australian |date=25 November 2014}} a version of its Connected Intelligence product hosted in the cloud and available from any desktop or mobile device.{{cite news |last1=Redrup |first1=Yolanda |title=TechnologyOne hits nine years of record profits |url=https://www.afr.com/technology/technologyone-hits-nine-years-of-record-profits-20181119-h182l7 |access-date=3 February 2022 |work=Australian Financial Review |date=19 November 2018 |language=en}}
In 2014, TechnologyOne entered the S&P/ASX 200 Index and recorded $1 billion market capitalization.{{cite web|url=https://www.fool.com.au/2015/01/27/the-asxs-largest-software-company-technology-one-limited-nears-52-week-high-should-you-buy/|title=The ASX's largest software company Technology One Limited nears 52-week high|website=Fool.com|date=27 January 2015 }}
In May 2017 Di Marco stepped down as CEO and COO, Edward Chung, took over as CEO.{{cite news|last1=Redrup|first1=Yolanda|title=TechnologyOne CEO Adrian Di Marco prepares to pass the baton|url=http://www.smh.com.au/business/technologyone-ceo-adrian-di-marco-prepares-to-pass-the-baton-20160114-gm6dmt.html|work=The Sydney Morning Herald|date=18 January 2016}}{{cite news|last1=Redrup|first1=Yolanda|title=TechnologyOne CEO Adrian Di Marco steps down after 30 years|url=http://www.afr.com/technology/enterprise-it/technologyone-ceo-adrian-di-marco-steps-down-after-30-years-20170328-gv89wh|work=Financial Review|date=7 April 2017}}{{cite news|last1=McLean|first1=Asha|title=TechnologyOne CEO and founder hands reins to current COO|url=https://www.zdnet.com/article/technologyone-ceo-and-founder-hands-reins-to-current-coo/|work=ZDNet|date=April 7, 2017|language=en}} 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.{{cite web|url=https://www.arnnet.com.au/article/630275/technologyone-cloud-captures-2-5m-profit/|title=TechnologyOne cloud captures $2.5M profit|website=Arnnet.com}}
In 2019, the company announced that it had reached $300 million of annual revenues.{{cite news |last=Foye |first=Brendon |date=2018-11-20 |title=TechnologyOne scrapes $300 million milestone thanks to SaaS platform |url=https://www.crn.com.au/news/technologyone-scrapes-300-million-milestone-thanks-to-saas-platform-515817 |work=CRN |location=Australia |access-date=2019-07-08}}
It also added Cliff Rosenberg, formerly managing director of LinkedIn, to its board of directors. By December 2019, half of TechnologyOne's business was in the cloud;{{cite news |last1=Kitney |first1=Damon |title=Technology boards 'must balance risk and creativity' |url=https://www.theaustralian.com.au/business/technology/tech-boards-must-find-right-risk-and-creativity-balance/news-story/fe370e0e4a0b2cc16fa12136e5e67b57 |access-date=3 February 2022 |work=The Australian |date=16 December 2019 |language=en-AU}} From 1999 to 2019, TechnologyOne doubled in size every five years.{{cite news |last1=Kitney |first1=Damon |title=Learning the 'Fosbury flop' taught boss to aim higher |url=https://www.theaustralian.com.au/business/leadership/learning-the-fosbury-flop-taught-boss-to-aim-higher/news-story/3422941b63077dff86e03a6dfa29cbbb |access-date=2 February 2022 |work=The Australian |date=27 April 2019 |language=en-AU}}
In 2020, the company announced that half of its customers had transitioned from on-premise to SaaS{{cite news |last1=Chanthadavong |first1=Aimee |title=TechnologyOne inks AU$5.8 million deal with Department of Treasury |url=https://www.zdnet.com/article/technologyone-inks-au5-8-million-deal-with-department-of-treasury/ |work=ZDNet |date=November 16, 2015 |language=en}} and that 86% of its revenue is now subscription revenue.{{cite news |title=FY20 Annual Report |url=https://technologyonecorp.com/__data/assets/pdf_file/0016/143224/FY20-Annual-Report.pdf}} As of May 2020, the company had posted 11 years of record annual profit.{{cite news |last1=Swan |first1=David |title=TechnologyOne still on growth path |url=https://www.theaustralian.com.au/business/technology/technologyone-still-on-growth-path/news-story/2e59a5bd91aa9fc982fbd9c035d33f4f |access-date=4 February 2022 |work=The Australian |date=19 May 2020}}
In September 2021, the company made their first international acquisition by acquiring UK-based higher education software company Scientia for £12 million.{{Cite web |title=TechnologyOne acquires Scientia to accelerate international growth |url=https://technologyonecorp.co.nz/resources/media-releases/technologyone-acquires-scientia-to-accelerate-international-growth |access-date=2022-06-07 |website=Technology One |language=en}}{{Cite web |title=Australia's TechnologyOne acquires UK-based higher-ed platform Scientia for $16.6M |url=https://techcrunch.com/2021/09/03/australias-technologyone-acquires-uk-based-higher-ed-platform-scientia-for-16-6m/ |access-date=2022-06-07 |website=TechCrunch|date=3 September 2021 |language=en-US}}
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.{{cite news |last=Herrick |first=Chloe |date=2012-02-22 |title=Evolve 2012: TechnologyOne invests $200m in new Cloud platform |url=https://www.cio.com.au/article/416165/evolve_2012_technologyone_invests_200m_new_cloud_platform/ |work=CIO from IDG |access-date=2019-07-08}} This has enabled clients to integrate{{Cite web|title=TechnologyOne rips out Vic council legacy enterprise system|url=https://www.arnnet.com.au/article/663811/technologyone-rips-vic-council-legacy-enterprise-system/|access-date=2020-06-06|website=ARN|date=9 July 2019 }} 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.
TechnologyOne products are used by more than 1,200 organisations in Australia and New Zealand. The company also has customers in the United Kingdom.{{cite news |last=Williams |first=Shannon |date=2019-06-20 |title=TechnologyOne launches STEAM Lab pilot launch in Queensland |url=https://itbrief.com.au/story/technologyone-launches-steam-lab-pilot-launch-in-queensland |work=IT Brief |location=Australia |access-date=2019-07-08}} By 2018, more than 30 per cent of TechnologyOne customers had transitioned to the company's SaaS platform.{{cite news |last=Thomson |first=James |date=2018-11-25 |title=Cloud shift helps Technology One float above tech damage |url=https://www.afr.com/chanticleer/cloud-shift-helps-technology-one-float-above-tech-damage-20181125-h18bi0 |work=Australian Financial Review |access-date=2019-07-08}}
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.{{cite news |last1=Sharma |first1=Krishan |date=26 July 2010 |title=TechnologyOne launches $12m Brisbane headquarters |url=https://www.crn.com.au/news/technologyone-launches-12m-brisbane-headquarters-220930 |archive-url=https://web.archive.org/web/20160920051011/https://www.crn.com.au/news/technologyone-launches-12m-brisbane-headquarters-220930 |archive-date=2016-09-20 |access-date=4 February 2022 |work=CRN Australia}}{{Cite web |title=TechOne launches Brisbane software R&D centre |url=https://info.microkeeper.com.au/products/payroll-software |archive-url=https://archive.today/20250409133655/https://www.itnews.com.au/news/techone-launches-brisbane-software-rd-centre-220921 |archive-date=9 April 2025 |access-date=2025-04-09 |website=iTnews}} The company has additional international R&D facilities.{{cite news |last1=Mezrani |first1=Leanne |title=TechnologyOne recruits overseas staff, skills shortage blamed |url=https://www.crn.com.au/news/technologyone-recruits-overseas-staff-skills-shortage-blamed-107359 |access-date=4 February 2022 |work=CRN Australia |date=3 April 2008}}
As of June 2019, the company had invested more than $500 million into research and development since its inception.{{cite news |last1=Redrup |first1=Yolanda |title=TechnologyOne reveals its new app arsenal |url=https://www.afr.com/technology/technologyone-reveals-its-new-app-arsenal-20190606-p51v4d |access-date=4 February 2022 |work=Australian Financial Review |date=6 June 2019 |language=en}} As of 2021, research largely focuses on developing additional functionalities for TechnologyOne's software-as-a-service enterprise resource planning software.{{cite news |last1=Arboleda |first1=Nico |title=FedGov wins buoy TechnologyOne's record half |url=https://www.crn.com.au/news/fedgov-wins-buoy-technologyones-record-first-half-565008 |access-date=4 February 2022 |work=CRN Australia |date=25 May 2021}} It is also creating applications for artificial intelligence and developing a digital experience platform, intended to integrate front and back office applications.
List of mergers and acquisitions
TechnologyOne was founded in 1987.
| class="wikitable sortable" |
| Number
! scope="col" style="width:100px" | Acquisition date ! scope="col" | Company ! scope="col" | Business ! scope="col" | Country ! scope="col" | Price ! scope="col" class="unsortable" | Refs. |
|---|
| 1
| {{dts|2000|1}} | Tablelands Computer Systems | | {{AUS}} | style="text-align:center;" | — | {{cite news |title=TechnologyOne Book 2017 |url=https://issuu.com/technologyone/docs/technologyone_book-lr |work=Issuu |date=January 7, 2018 |language=en}} |
| scope="row"
|2 | {{dts|2001|12|6}} | ProClaim Software Pty Ltd | Claims Management | {{AUS}} | style="text-align:center;" | {{AUD|10.6 million|link=yes}} |
| scope="row"
|3 | {{dts|2002|3}} | Infoplan | | {{AUS}} | style="text-align:center;" | — | {{cite news |title=TechnologyOne Book 2017 |url=https://issuu.com/technologyone/docs/technologyone_book-lr |work=Issuu |date=January 7, 2018 |language=en}} |
| scope="row"
|4 | {{dts|2007|10|1}} | Avand Pty Ltd | Enterprise Content Management (ECM) | {{AUS}} | style="text-align:center;" | {{AUD|10 million|link=yes}} |
| scope="row"
|5 | {{dts|2008|8|1}} | Outcome Manager | Business Performance Management (CPM) | {{AUS}} | style="text-align:center;" | {{AUD|1 million|link=yes}} |
| scope="row"
|6 | {{dts|2015|1|30}} | ICON Software | Enterprise Resource Planning (ERP) | {{AUS}} | style="text-align:center;" | {{AUD|10 million|link=yes}} |
| scope="row"
|7 | {{dts|2015|5|8}} | Digital Mapping Solutions | Geographic Information System | {{AUS}} | style="text-align:center;" | {{AUD|12 million|link=yes}} |
| scope="row"
|8 | {{dts|2015|9|3}} | Jeff Roorda & Associates | {{AUS}} | style="text-align:center;" | {{AUD|10 million|link=yes}} |
| scope="row"
|9 | {{dts|2021|10|2}} | Scientia | {{UK}} | style="text-align:center;" | {{GBP|12 million|link=yes}} |
| scope="row" |
References
{{reflist}}