Australian tech giant TechnologyOne (ASX:TNE) has closed out another philanthropic year, with the company and employees getting behind the new TechnologyOne Foundation.
This year, the company provided donations to its major charity partners, The Salvation Army, Mission Australia, World Vision and The School of St Jude in Tanzania, and volunteered more than 200 employee hours to support disadvantaged youth programs across Australia, New Zealand and the United Kingdom.
These efforts were part of the company’s driving 1% pledge initiative, which commits it to donating one per cent of time, one per cent of profit and one per cent of product to charity.
The 1% profit component commits us to donating 1% of annual profit to our charity partners, supporting our vision of changing the future by empowering underprivileged and at risk youth to transform their lives.
“As a large, successful company we have the capability and capacity to make a difference. The TechnologyOne Foundation establishes charitable giving as a long-term initiative, and represents a multi-million-dollar annual commitment,” said TechnologyOne’s Executive Chairman Adrian Di Marco.
“The major charities we support each have a strong commitment to developing underprivileged youth, which aligns with our strategic goal.
“The 1% pledge makes the community a key stakeholder in our business. It’s a small commitment today that can make a huge impact in our communities tomorrow.”
As part of the one per cent time initiative, TechnologyOne offers all employees up to 2.5 days leave per year to volunteer during work hours for selected charitable organisations.
Through the one per cent product, the company has commitment to donating one percent of licence fee revenue each year, making it easier for not-for-profit organisations to access TechnologyOne’s solutions and take advantage of the efficiencies they bring.
The one per cent profit component involves donating one per cent of annual profit to the company’s charity partners, supporting its vision of changing the future by empowering underprivileged and at risk youth to transform their lives. This is supported by several initiatives which include a workplace giving program, disaster outreach relief and recycle IT program.
“The TechnologyOne Foundation underpins our strategy to transform lives and make a difference in our communities,” Mr Di Marco said.
“Our ongoing investment in the community is now part of a formal program of internal fundraising events, charity partnerships, and volunteering.
“The Foundation has already enabled us to make a greater impact in our communities and really empowers our employees to get involved in our philanthropic endeavours. It is exciting to think about the increasing impact we will have moving forward.”
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TechnologyOne (ASX:TNE) is Australia's largest enterprise software company and one of Australia's top 200 ASX-listed companies, with offices across six countries. We create solutions that transform business and make life simple for our customers. We do this by providing powerful, deeply integrated enterprise software that is incredibly easy to use. Over 1,000 leading corporations, government departments and statutory authorities are powered by our software.
We participate in only eight key markets: government, local government, financial services, education, health and community services, asset intensive industries, project intensive industries and corporates. For these markets we develop, market, sell, implement, support and run our preconfigured solutions, which reduce time, cost and risk for our customers.
For 29 years, we have been providing our customers enterprise software that evolves and adapts to new and emerging technologies, allowing them to focus on their business and not technology. Today, our software is available on the TechnologyOne Cloud and across smart mobile devices.