TechnologyOne has been granted permission by the Inland Revenue Department to store data for its New Zealand customers in Australia on the TechnologyOne Cloud as a third party provider. The IRD’s approval exempts TechnologyOne customers from data sovereignty rules requiring financial records to be stored in New Zealand.
The TechnologyOne Cloud delivers TechnologyOne’s enterprise software as a service.
“Cloud computing is a widely used and misunderstood term,” says TechnologyOne executive chairman Adrian Di Marco. “It is a confusing term because it is used universally to categorise everything from simple hosting and outsourced infrastructure solutions, to complete software as a service solutions.
“Companies such as Google, Facebook and Salesforce have become leaders in the cloud, because they develop and run their own software, and continually invest to improve it. It’s called software as a service.
“In the same way, we build, run and optimise our software to run our software as a service on the TechnologyOne cloud. We have always developed, sold and maintained all our software - now, we are accountable for running it on the cloud too," Di Marco says. “This enables our customers to focus on their business - not the technology.”
The TechnologyOne cloud was officially launched at the company’s Evolve user conference in February 2014.
“The IRD’s approval to store New Zealand data in Australia is a significant milestone for TechnologyOne,” Di Marco says. “There are now no barriers to delivering our enterprise software as a service to our customers in New Zealand.”
“Local cloud hosting providers cannot afford to make the significant investment required to keep pace with the continually evolving cloud. Most of these companies are hand crafting a ‘customer specific’ solution, which cannot deliver the economies of scale, the long-term strategic benefits, or future proof the way forward, as we are able to do” he says.
“When we fix it a problem, make an enhancement or add a new feature for one customer, hundreds and thousands of customers benefit - we do it once and everyone gets the benefit.. This leads to economies of scale and long term strategic benefits not achievable by hosting providers.”Read more: IRD to consider integration of external software with GST returns system
TechnologyOne stores data for its customers in two data centres in ‘active/active’ configuration. This secure model provides customers with highly available infrastructure, while removing the need for excessive associated disaster recovery costs.
“The TechnologyOne cloud delivers the TechnologyOne enterprise software as a service to our customers in a high performing, reliable and secure manner. Infrastructure projects, physical security and disaster recovery were daily concerns of IT departments and CFOs. Now, their only concern is who should have access to the software,” Di Marco says.
The company joins seven others with IRD approval. The others are Brookers, MYOB, Xero, Reckon New Zealand, Cargo Wise New Zealand, CCH New Zealand, and Farm IQ Systems.
TechnologyOne is Australia’s largest publicly listed software company.