Software developer Technology One is attempting to disprove the maxim that government is inefficient and outdated with the proliferation of its Finance One software through 20 local councils nationwide.
Reaping in $8 million from the local government sector, Technology One is anticipating that its financial suite will generate $20 million over the next five years through the expansion of its government vertical market to include 40 councils.
By forging alliances with local government suppliers of human resources, payroll and property systems, Technology One has established a strong presence in the market.
"A number of large councils have been so delighted with Finance One that other councils have visited their sites to test the product and a domino effect has taken hold," said Adrian Di Marco, managing director of Technology One.
Technology One specifically designed elements of the software for this vertical segment by creating tools like open interfaces so that existing products could integrate around Finance One.
An acute understanding of local councils' needs was also an integral component of Technology One's success in this space. The developer has taken specific pains to ensure that councils can focus on issues of greater efficiencies, better time management, decentralised services and lower costs through its technology. To this end, Finance One reduces the data entry requirements for staff, has graphical reporting abilities and assists councils in changing from cash to accrual accounting systems.
"Return on investment is a major criteria for councils and we have addressed this by keeping our implementation costs to a dollar-for-dollar basis to the initial licence fees," Di Marco said.
Expedient installation times also encourage councils to take the step into what is often the technological unknown.
"Four months is the average implementation period, with larger councils sometimes taking slightly longer," Di Marco said. According to Di Marco, the technology is upgraded every four to six months, with major releases every 18 months, allowing local councils the relatively new luxury of constant access to new technology.
Products: Finance One, Student One, Retail One Status: Privately owned Turnover: $25 million annually Offices: Sydney, Melbourne, Adelaide Competitors: The BOPS, mid-market financials specialists Fact: Technology One is a "third time lucky" story. The company had to redevelop its flagship product twice, as it went head-to-head with two market leaders after first releasing Finance One.