Enterprise software solutions company TechnologyOne says it is investing $49.9 million in the FY 2017 as part of its goal to foster innovation throughout the company.
Along with significant investment into the company’s culture and employee engagement, TechnologyOne chief executive officer 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.
{loadposition peter}”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," said Chung.
“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 programs.
“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.