2001 Press ReleasesDate: 8th March 2001 Objective's Overseas Revenue to Rise Following
UK Government Clearance
Objective Corporation (ASX:OCL) - Australia's leading developer of knowledge
management software - today predicted a major rise in overseas revenue
following approval of the company's products by the UK government. Mr Tony Walls, Joint CEO, said that within two years, UK and European
government contracts will account for 30 per cent or more of Objective
Corporation's revenue as a result of its products being cleared by the
UK's Public Record Office for use in government departments. "This opens the way for us to compete for UK government contracts
worth hundreds of millions of dollars. We'll be boosting our UK operations
to take advantage of the opportunity and to give us a hub from which increase
European business," said Mr Walls. According to Mr Walls, the UK market is being driven by the Blair government's
commitment to store its records electronically by 2004 and develop the
capability to handle dealings with the public online by 2005. "The UK government has set aside around $2.6 billion, on top of
the annual $22 billion IT spend, to fund its move to e-business. On top
of that, the stringent record keeping requirements of the Data Protection
and Freedom of Information Acts are fuelling government demand for knowledge
management and electronic records management. "Objective will be competing fiercely for a slice of the action.
Our products have already beaten off major global competitors in the domestic
Australian market and we're confident they will do the same in the UK,"
he said. Objective Corporation has already established itself as the leading supplier
of records management technology to the Australian federal and state governments,
securing federal contracts valued at more than $15 million over the past
12 months. These include the Federal Attorney General's Department, IP Australia,
ATSIC, the Department of Transport and Regional Services and the Australian
Centre for International Agricultural Research. Objective's knowledge management solutions are also being implemented
for up to 50,000 users at the Australian Defence Organisation. Objective Corporation recently won its first UK government contract with
the Local Enterprise Development Unit (LEDU), a business development agency
in Belfast, Northern Ireland. In early March, Objective Corporation participated in the recent Austrade
Government Online mission to promote the services of Australian companies
to the British government. The company is currently presenting its capabilities
to government departments throughout the UK on a 10 day roadshow. -ends- Related Stories Objective
gains UK thumbs up
idm.net.au
By Alicia Camphuisen
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