TechnologyOne has announced the launch of Solution as a Service globally.
According to the company, Solution as a Service (known as SaaS+) evolves what SaaS began 20 years ago and takes full responsibility for customers' complete ERP Solution experience, not just the software.
"SaaS+ is an all-inclusive offering leveraging TechnologyOne's unique Power of One. A single yearly fee contains all the costs required to implement, run, support and upgrade TechnologyOnes best-in-class industry solutions," the company explains.
TechnologyOne says SaaS+ will redefine the relationship between technology providers and customers, removing the need for expensive third-party consulting practices and complex implementations.
Unveiled for the first time at TechnologyOne's marquee TechnologyOne Showcase event in Melbourne, Solution as a Service (SaaS+) is the breakthrough answer to the three greatest impediments to investing in digital transformation: time to value, cost, and complexity, with TechnologyOne to become the only SaaS provider with the capability to provide customers with not only the software, but the entire end-to-end ERP solution.
In doing so, TechnologyOne will reject the traditional market separation of software and implementation and maximise their Power of One promise. SaaS+ is the world's first all-inclusive ERP solution offering, one singular fee, with no upfront costs, a guaranteed outcome, and a drastically reduced implementation timeline. As part of the announcement, the company has set an ambitious target to reduce ERP implementation to as low as 30 days by 2025.
"SaaS+ was a major divergence from the traditional corporate model used exclusively by its competitors, who rely on hugely expensive third-party consulting practices and complex implementation pathways in a process that can cost its customers hundreds of millions over many years," says Ed Chung, chief executive officer at TechnologyOne.
"When SaaS was introduced in 2012, it was transformative. It completely changed the way companies developed and thought about software, which started a race around the world to create the incredible innovations and technologies we experience today," he says.
"Unfortunately, the path to achieving true digital transformation hasn't kept pace in an era of rapid advancements to software innovation," Chung says.
"Industry continues to be burdened by a flawed model where billions are wasted each year on traditional third-party consulting capabilities and implementation partners.
"It's a decade where digital investment can only be characterised as one of high cost and complexity often, the cost of implementation partners is more than seven times the cost of the software itself," he says.
"Today, we prove there is a better future for our industry and for our customers. We are redefining the entire foundation and structure of our industry re-writing the rules of engagement to do what takes our competitors years to deliver at a huge cost, to a process that takes a few weeks without any upfront cost."
Chung says the market has always wanted and expected this, but no one has ever had the capability to achieve it.
"Providing a holistic solution has always been our goal and today we are proud to become the only SaaS provider with the capability to provide customers not only with software, but a full end-to-end solution," he says.
"This is a transformational change being offered in our industry for the first time."
The unveiling of SaaS+ will be the headline act among a suite of new innovative technologies announced, including the introduction of App Builder, a simple, no-code toolset to further extend the TechnologyOne software set to launch in early 2024 and the continued expansion of the Digital Experience Platform (DXP).
For the first time, App Builder allows users to create applications inside the TechnologyOne ecosystem, with no code and little training, empowering customers to further personalise the software solutions for their business in real-time.
"Each and every one of our customers are different. While operating in similar markets, no challenge or opportunity is exactly the same," says Chung.
"That is why App Builder exists its a more intimate and unique way for TechnologyOne to solve the specific challenges for each individual customer.
"It's transformational in that it makes every single one of our customers a developer," he says.
"Collectively, SaaS+, App Builder and DXP is the future for TechnologyOne.
"Our legacy as a company has always been the ability to transform and innovate. We have doubled in size every five years and are well on track to surpass our current target $500m of AAR by 2026. What we announced today is the future of TechnologyOne our vision for how well re-engineer our business to innovate for our customers, with a clear path to once again doubling in size over the years ahead."