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- 8common (8CO) awarded $752,000 contract from the Australian Government for upgrading and onboarding entities for its Expense8 platform
- Expense8 is an end-to-end travel expense management software, card application and management, which improves business productivity, policy incorporation and financials
- The company says this collectively incorporates over 10,500 users on to the Government Enterprise Resource Planning (GovERP) version of the platform
- 8CO expects to onboard further agencies under the agreement during the remainder of FY22 and into FY23
- Shares were trading grey at 18 cents at 1310 AEDT
8common (8CO) has been awarded a $752,000 contract from the Australian Government under the Government Enterprise Resource Planning (GovERP) deed for upgrading and onboarding entities for its Expense8 platform. The total value of signed contracts to date under the GovERP is over $1.4 million.
GovERP is a common platform comprising a number of essential corporate capabilities to deliver back-office services, including financial, human resources and procurement services and reporting.
Expense8 provides end-to-end travel expense management software, card application and management, which improves business productivity, policy incorporation and finances.
The contract covers two streams, which consists of upgrading seven existing customer entities to the GovERP version of Expense8 and the pre-onboarding consultation for seven new entities.
The company says this collectively incorporates over 10,500 users on to the GovERP version of the Expense8 platform.
Currently 8CO generates a Federal Government average revenue per user of $42 servicing over 20,000 employees across 30 entities.
Revenue from this contract will be recognised in Q3 and Q4 FY22 with the associated SaaS transaction and recurring revenue commencing in 1H FY23.
Under the GovERP, 158 Federal Government entities can be onboarded to the Expense8 platform.
8CO expects to onboard further agencies under the GovERP agreement during the remainder of FY22 and into FY23.
Shares were trading grey at 18 cents at 1310 AEDT.
