TECHNOLOGY ONE

5Brisbane-based TechnologyOne, founded in 1987, designs, develops, implements and supports a wide range of financial management, accounting and business software. It has gained success with its TechnologyOne Financials software product, and enjoys particular strength in local government. Its software is also used by many educational institutions, including a number of Australian universities. Its other key markets are financial services, central government, and health and community services. It derives revenues not only from the supply and support of its products but also from annual licence fees. It operates from offices in Australia, New Zealand, Papua New Guinea, Malaysia and the UK. It has opened research and development centres in Indonesia and Vietnam.

TechnologyOne has become a star among high-tech companies, with growing profits and regular dividend increases. In large part this reflects a strong product line, a solid flow of recurring income and a heavy investment in new products and services. It sees scope for continuing significant growth in its cloud service business, and its target is an annual contract value of $143 million by September 2022, compared with $19.9 million in March 2017. The new Ci Anywhere suite of products will allow users to use its software on any mobile device, and the company believes it is on track to complete development by late 2018. It expects its fast-growing British operations to move into profit this year.