TechnologyOne plots US expansion to take down Oracle and SAP in the cloud
May 23, 2016
Grazed from AFR. Author: Paul Smith.
Australian software company TechnologyOne will begin a three-year process to lay the groundwork for ambitious US expansion plans, as its ten year old UK operations approaches profitability for the first time. Speaking to The Australian Financial Review as the 29-year-old company – valued at $1.6 billion – released half-yearly results which reaffirmed guidance for 10-15 per cent full-year profit growth, founder and CEO Adrian Di Marco said the company would take a measured approach to entering the potentially lucrative US market.
This will involve opening up a US research and development centre in 12-18 months, to ensure its software works properly with US regulations, ahead of a launch within two or three years. "We have not fragmented our code line, it is one global codeline that we have built here in Australia, that is exactly the same code that runs in the UK, so we have actually already done the globalisation of the product from that regard," Mr Di Marco said…
Read more from the source @ http://www.afr.com/technology/cloud-computing/technologyone-plots-us-expansion-to-take-down-oracle-and-sap-in-the-cloud-20160519-goyqyo#ixzz49UX5fWPX