TechnologyOne's aim to pad out its software-as-a-service capabilities for the education sector is being given a boost thanks to the company's acquisition of United Kingdom-based higher education software provider, Scientia.
The acquisition will bring Scientia's solutions under the TechnologyOne umbrella, will help the company to deliver student-centric, end to end enterprise resource planning (ERP) software as a service (SaaS) for the higher education sector.
According to TechnologyOne, it supports 75% of education institutes in Australia and 50% of those in the UK.
"Scientia's product integration into our already world class Student Management, HRP, assets, and finance supply chain products, rises to meet the current needs of the higher education sector," comments TechnologyOne CEO Edward Chung.
The company's founder and executive chairman Adrian Di Marco says it's the company's first international acquisition.
"It demonstrates our deep commitment to serving the higher education sector and the UK market.
"The unique IP and market-leading functionality of Scientia's product supports our vision of delivering enterprise software that is incredibly easy to use. We are excited about the opportunities this will bring to both our UK and Australian customers in the coming years," he said.
One feature of the SaaS solution is scheduling and timetabling as part of its ERP platform.
Swinburne University of Technology registrar and director of student administration and library services, Michelle Gillespie, says that the technology will benefit students in ways they care about most, such as their timetables.
"Being able to fully integrate a schedule into the full student experience is very important, and an exciting step for those universities - like Swinburne - that use TechnologyOne's student management system.
TechnologyOne's H1 2021 financial results posted an after-tax profit of $28.2 million and total revenue of $144.3 million. Of this, $140.6 million came from SaaS and continuing business.
In May, the company noted that the company's UK operations were improving, with a before-tax profit of $500,000 for the half year and forecast to deliver strong growth in the market over the full year.
Chung said at the time, "I am pleased to announce that we have delivered our 12th year of record first half profit and revenue and record SaaS fees.
Our profit after tax for the half is up 48%. And our SaaS annual recurring revenue (ARR) is up 41% as we increased the number of large-scale enterprise SaaS customers by 21 per cent, to 576. Our SaaS business continues to grow strongly."
