Technology One : TechnologyOne invests $41 million in R&D, innovation and culture

TechnologyOne invests $41 million in R&D, innovation and culture

14-01-2016

Leading enterprise software provider TechnologyOne (ASX:TNE) is leading the way for Australian software companies, investing some $41 million in its Research & Development program this year. Equating to 19 per cent of its revenue, the company is one of the largest Australian investors in R&D, well above the industry average of 12 per cent.

'If companies want to remain competitive, R&D should be at the heart of their strategy, especially for those in the technology industry,' said TechnologyOne's Executive Chairman Adrian Di Marco.

'Our investment in R&D makes us Australia's largest software R&D company. We have a proven track record in innovating and creating outstanding products.

'We use our R&D spend to invest in product development, and this benefits our customers through the ongoing evolution of our solutions - and enables them to keep pace with technology. Over the next 18 months, we will focus our R&D efforts to bring all our remaining products onto our new powerful Ci Anywhere platform.

'Our R&D program continues to be at the leading edge of our industry as we embrace new technologies, new concepts and new paradigms, such as the cloud and smart mobile devices. The level of innovation and creativity is greater than at any time in our company's 28 year history.

'Our scale in R&D is now allowing us to do more with less, and will underpin profit growth over the next ten years. It is providing us significant synergies and scale, enabling us to continue to pursue our ambitious world-class R&D agenda.'

Mr Di Marco said along with injecting revenue into R&D, it is important companies invest in local talent.

'Many would say investing in local talent is difficult and costly, however TechnologyOne employs over 1,000 staff, 900 of which are located in Australia. It's these people who have helped us grow into the highly successfully $1billion plus market cap, ASX-200 listed company we are today.

'Key to our R&D program and the growth of our talent is the recruitment of graduates and interns. They play a key part in our culture of collaboration and creativity, bringing with them new ideas and ways of working that drive innovation.

'As well as having a nationally recognised graduate and intern program, we endeavour to fill open positions in our R&D team with graduates where possible, to provide every opportunity to inject new and fresh perspectives into our software development.'

Mr Di Marco said the company's innovation is about investment in its people, environment, workspaces and programs.

'In 2015, we underwent major renovations of our HQ Village Green common area, creating a world class collaboration hub. The Village Green has been transformed into a space that showcases the ongoing accomplishments and achievements of the company.

'By creating these collaborative areas, it acts as a catalyst for some really exciting and innovative things to come out of our R&D centre. We want to foster the best talent we can, and part of that includes providing a positive and engaging workspace. We can't expect great things from our people if we don't give them a great environment to work in.'

During 2015 the company also invested in its Leadership and Compelling Customer Experience Programs, which focused on equipping its people with the skills, behaviours and techniques to become strong leaders; and providing its employees with ongoing development and support in delivering outstanding customer experiences.

'We employ people who challenge conventional thinking and empower them to make a difference at TechnologyOne and in our customers' businesses. We believe in leadership, not management, and grow talented leaders who have deep domain knowledge, set ambitious agendas, inspire their people, and work side by side with them to make the impossible, possible,' Mr Di Marco said.

'Providing a compelling customer experience is also fundamental to the way TechnologyOne does business. To achieve this, we continue to recognise our customers are our compass for the decisions we make, the people we employ and the processes we create.'

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About TechnologyOne

TechnologyOne (ASX:TNE) is Australia's largest enterprise software company and one of Australia's top 200 ASX-listed companies, with offices across six countries. We create solutions that transform business and make life simple for our customers. We do this by providing powerful, deeply integrated enterprise software that is incredibly easy to use. Over 1,000 leading corporations, government departments and statutory authorities are powered by our software.

We participate in only eight key markets: government, local government, financial services, education, health and community services, asset intensive industries, project intensive industries and corporates. For these markets we develop, market, sell, implement, support and run our preconfigured solutions, which reduce time, cost and risk for our customers.

For 28 years, we have been providing our customers enterprise software that evolves and adapts to new and emerging technologies, allowing them to focus on their business and not technology. Today, our software is available on the TechnologyOne Cloud and across smart mobile devices.

For further information please visit: TechnologyOneCorp.com