Ann: Change in substantial holding, page-7

I was out of TechnologyOne, still hearing a lot of churn with their staff at a senior level and a number of unhappy customers. From what I hear the cost of moving to the T1 cloud is quite high for customers, as most are still in premise and most of their revenue is from cloud conversions and a signifi cant uplift in SAAS fees as opposed to support and maintenance. This is a barrier especially their solution is essentially the same solution. If you analyse their results they don ’t mention many new customers. They highlight cloud conversions, and if you compare last years results, it seems most of the revenue growth comes from Local Government with 45%  of revenue coming from that sector slone. It doesn’t seem other sectors have fired.

i still see them growing due to the trapped customers and their pressure to convert them to cloud. Most don’t see an alternative, but if any come into the equation they could be disrupted. I’d love them to publish a survey of customer satisfaction.