Satori congratulates and celebrates with 8common (ASX:8CO) on the announcement of their recently signed Australian Government GovERP deed with an initial contract worth $542k.
The contract launches the initial design and delivery phases of Expense8 for the GovERP rollout program, allowing the fast track of 90+ Commonwealth entities and 130k+ employees onto the Expense8 platform from mid-2022 onwards.
The Expense8 platform is supported by Satori technologies.
8common CEO, Andrew Bond said “We are delighted to commence the accelerated delivery of Expense8 with the Australian Federal Government under the GovERP Panel of service providers. The initial contract reflects the size of the opportunity of the GovERP program to the Company. With the accelerated activity, we are working towards onboarding new Government entities onto the GovERP version of Expense8 platform from mid-CY 22 onwards.”
“The addition of Expense8 to the GovERP panel delivers the ability for 8common to substantially grow our footprint within Federal Government and significantly increase our implementation revenue and transaction-based SaaS recurring revenue over the coming years.”
Highlights of the contract:
▪ Initial $542k (inc-GST) contract from the Australian Government under the recently signed GovERP program.
▪ The contract commences the work packages under the GovERP and is for the initial design and delivery phases of the rollout of the program, with work to be carried out through to the end of March 2022.
▪ Expense8 was selected as the exclusive travel and expense management solution for GovERP which will provide a common corporate platform for all non-corporate Commonwealth entities (NCCEs) and those corporate Commonwealth entities (CCEs) that have opted in (over 90 agencies with over 130K employees)
▪ The contract work will deliver a GovERP version of the Expense8 platform and will allow the fast track of Commonwealth entities onto the platform from mid CY22 onwards delivering an increase in ongoing transaction and SaaS recurring revenue
▪ 8CO, through Expense8, currently generate a Federal Government ARPU of $42 ($53 precovid) servicing approximately 20,000 employees across 27 agencies
The GovERP platform enables the selection of Expense8 under a pre-selected panel of service providers. Expense8 will be the exclusive provider under the Travel and Expense Management Value Stream for the Shared Services Program which includes over 130k employees across 90 Government Entities.
Expense8 platform is a leading pureplay provider of end-to-end travel expense management software, card application and management. The innovative software solutions improve organisation, productivity, incorporate company organisational policies and expense auditing to reduce fraud.
Expense8 by 8common was named a Major Player in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Travel and Expense Management Applications 2019 Vendor Assessment.