Australian software-as-a-service (SaaS) company TechnologyOne has reported an 8% increase in after-profit tax to earn nearly AU$63 million for the 2020 financial year when compared to the AU$58.5 million recorded in 2019.
Before tax, however, the company’s profit increased by 13% to AU$86 million.
The increase, according to the company, was driven by TechnologyOne’s SaaS ERP solution, which added 104 enterprise customers during the year, bringing the total number of “large scale” enterprise customers using the solution to 539.
Of those new deals scored during the year, TechnologyOne detailed that 40 of them were from the local government sector with total contract value worth more than AU$45 million, while another 10 with total contract value of AU$10 million were from the higher education sector.
“Our Global SaaS ERP solution is transforming our customers’ business and makes life simple for them. When COVID-19 hit, our solution enabled our SaaS customers to
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