TechnologyOne’s contract revenue to increase over 90%

Company News

by Jessica Amir

TechnologyOne (ASX:TNE) has estimated its annual contract revenue will rise by more than 90 per cent over the year.

It comes as Australia’s largest enterprise software company announced after the market closed, that its software as a service (SAAS) business doubled in size over the last 12 months, while its existing customers have also increasingly been migrating to its cloud.

The firm says its offering has captured several multi-million dollar contracts from marquee customers, just in the last quarter.

TechnologyOne’s major projects wins were with the University of Sussex in the United Kingdom, Inner West Council in Australia and the first Central Government Agency in New Zealand.

Shares in TechnologyOne (ASX:TNE) last traded 0.92 per cent lower to $5.37.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.