Software and service provider, Technology One, is planning to expand its market reach overseas.
The company has developed a new range of connective intelligence (CI) products that are designed to compete in the UK market.
“Our current range of products is still selling very well in Australia,” Tech One executive chairman, Adrian Di Marco, said. “But we needed something significantly different if we wanted to compete overseas. That’s why we’re bringing out this new range quite a few years earlier than we might have needed.”
The company announced strong first half results, with a net profit before tax of $5.52 million, an increase of 16 per cent from the previous corresponding period.
Di Marco said that although many of their competitors were continuing to struggle under difficult trading conditions, Tech One was on course for a continued growth in profit this financial year.
“Australians are among the best software developers in the world,” he said. “In this market, you have to be good to survive.
“It’s a small marketplace, so it’s very competitive. You have to be fast and efficient; you have to put in best practice; you have to challenge people’s thinking. We’ve done that, and that’s why we’ve come through the aftermath of the Y2K binge so well.”
The company plans to start shipping the first of its CI products, called Finance One, later this year. In the meantime, it intends to concentrate on building a UK channel.