Home Development TechnologyOne pours $49.9 million into R&D

TechnologyOne pours $49.9 million into R&D

Enterprise software solutions company TechnologyOne says it is investing $49.9 million in FY 2017 as part of its goal to foster innovation throughout the company.

Along with significant investment in the company’s culture and employee engagement, TechnologyOne chief executive Edward Chung says the R&D investment, which exceeds the market average of approximately 12% and equates to 18% of the company’s revenue, makes TechnologyOne one of the leading Australian investors in enterprise software.

Chung says the company is committed to delivering “awesome products, underpinned by a market-leading investment in R&D”.

“TechnologyOne has established a reputation as a leader in enterprise software. We are leaders because we disproportionately invest in R&D to set us up for future growth.

”We are committed to a continuous cycle of redeveloping our software platform from the ground up, leaving no line of code untouched. This opens our mind to new ideas, concepts and technologies and ensures we are not limited by the past.

“Over 30 years, we have completely redeveloped our software platform four times. Since the introduction of SaaS and smart mobile devices, the pace of change is accelerating and our software will continue to evolve at a market-leading pace.”

According to Chung, TechnologyOne has one of the largest Australian-owned R&D centres for enterprise software, employing a team of more than 400 developers. In addition to its two Australian R&D centres, the company has offshore R&D centres in Indonesia and Vietnam.

“Despite tremendous growth, we've found ways to maintain our start-up spirit and innovative work environment," he said.

“Our state-of-the-art R&D centres are designed to foster collaboration, creativity and innovation. Our R&D investment funds employment in Australia and generates export income from key overseas markets.”

In addition to significant R&D investment, Chung says TechnologyOne also bolstered its investment in company-wide initiatives to recognise high-performing team members and nurture up-and-coming talent. These included ongoing Hack Days, internal MARVEL awards, regular Town Hall meetings across all global offices, a dedicated collaborative "Hackspace" and various graduate and intern programmes.

“As a nationally-recognised Employer of Choice, TechnologyOne is dedicated to providing an environment in which our talented people can be innovative, creative and realise their full potential,” Chung said.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).