The London School of Economics, one of the world’s most prestigious universities, says it has leaned on TechnologyOne (ASX:TNE), Australia’s largest enterprise Software as a Service (SaaS) company, during COVID-19.
Higher education institutions were among the first sectors to feel the impact of COVID-19 as the initial outbreak led to travel bans, which impacted international students. The introduction of physical distancing regulations in March led to the closure of the LSE campuses and students, facility and staff turning to remote work.
The challenges have shone a spotlight on the benefits of SaaS, says Mike Ferguson, Director of Finance, LSE, and the TechnologyOne solution has passed the test with high marks.
“We’ve been on a digital transformation journey for some time. But over these last few weeks the ability to get work done anywhere, any time – which only SaaS can deliver – has changed from being something that was just part of an overall strategy to a mission critical requirement and without it we simply could not have continued financial operations without significant risk,” Mr Ferguson said.
“We went live with a SaaS solution from TechnologyOne just last August. What we’ve just been through in March and April, and expect to see continue for several more months at least, would have been so much more difficult if it was not for that decision.”
Some time ago, LSE embarked on a plan to transform its operations; to streamline, standardise and automate processes, and support a more mobile workforce. That strategy has proven to be the correct one, says Stuart MacDonald, TechnologyOne’s chief operating officer.
“It’s a trend we’re seeing higher education institutions everywhere adopt. Increasingly we’re seeing technology become a competitive differentiator, with the world’s leading institutions turning to SaaS to both increase efficiency and underpin better student experiences,” Mr MacDonald said.
To support its strategy, LSE turned to TechnologyOne whose OneEducation solution already supports 60 per cent of higher and vocational education institutions across Australasia and helps to enhance the experience of more than 1.4 million students.
“With the hindsight of 2020, the decision to choose TechnologyOne was prescient,” Mr Ferguson added.