November has come to an end and we are now less than 30 days away from Christmas! That does not stop the news. This month we have lots to cover.
It is always good to see local vendors succeeding in the cut throat world of HR Technology. TechnologyOne posted a full year profit, at the higher end of its growth guidance. Net Profit Before Tax is up 15% on the prior full year period to $40.2 million. This a great success and provides the company with 11 straight years of profitability. This performance has them entering the ASX200 Index after surpassing the $1 billion market capitalisation mark. The company claims much of its success has been at the expense of international vendors:
In 18 of the 50-plus new corporate customers, TechnologyOne replaced competitive systems from Oracle, SAP and Microsoft.
US darling Workday released their fiscal 2015 3rd Quarter Financial Results, with revenue of $215.1 Million, up 68% year Over year. Even with this stellar growth the company still posts losses quarter after quarter. With GAAP losses at $0.33, compared to a net loss per basic and diluted share of $0.27 in the third quarter of fiscal 2014. We shouldn’t be too concerned for Workday as they still have $1.8 billion in cash, cash equivalents and marketable securities to fund their growth.
Wellness applications is the new hype area, and like all hyped up areas we get lots of cashed up startups trying to be the next big thing. This time we have Wellmo, a wellness application that came from the now defunct Nokia ‘Wellness’ initiative from Nokia Research.
Closer to home, Reffind is a Sydney-based B2B startup that is looking to enter the job market around employee referrals. This is a very tough market and hopefully they have done their research. I have seen many try to enter the referral space and fail, some of the earliest being 2Vouch and Hoojano.
During the month Jason Averbook was appointed CEO of The Marcus Buckingham Company (TMBC), at the same time they announced series A funding of $5 million from SurveyMonkey. Prior to joining TMBC Jason was part of the leadership team at Appirio who had purchased his consulting company Knowledge Infusion two years prior. The funding will be used to expand TMBC’s strengths-based performance tools and content.
Also making hires was PageUp who appointed Carl Kimball as Vice President, Southeast Asia. Carl started his career in HR Technology at PeopleSoft in 1993, moving to Oracle in 2005 before leading other organisations acrossAsia Pacific. Carl will be based in the Singapore office.
Saba Software are hosting their first ever ANZ and APAC regional customer summit on December 3, 2014 at the Radisson Blu hotel in Sydney. The regional summit is designed as a forum for Saba’s customers throughout the region to gain better insight and examples on engaging and developing the individuals in their organisations. As it happens I will be talking at the event.
Also happening in early December will the the #truMelbourne and #truSydney recruitment unconference run by Bill Boorman and ATC events. If you have never attended an unconference they can be lots of fun.
La Trobe University is in the process of deploying a number of SAP’s cloud based applications including SuccessFactors EmployeeCentral, being one of the first education implementations of the platform in Australia.
TechnologyOne finished the year strongly with 30 new customers in 12 months to use its Human Resource & Payroll solution. Customers included Minda, Queensland’s Alliance Airlines, Tasmania’s OneCare and Auckland University of Technology. The company is claiming to have had 700% growth in the last few years. It will be interesting to see if they move into being one of the five most adopted core HRIS systems in our HR Technology Survey next year.
It seems not all large scale payroll deployments in Australia and New Zealand end badly. NSW Health is claiming success in its multi-year project to upgrade to a new version of Oracle’s eBusiness payroll product. One of the key factors cited for its success has been the continued engagement of the unions and other critical stakeholders from day one.
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Disclosure: Navigo is a partner of Saba