Join our daily newsletter At The Bell to receive exclusive market insights
- 8common’s (8CO) subsidiary, Expense8, and the Northern Territory Department of Corporate Information Systems (DCIS) have extended their contract for another three years
- The contract represents an estimated value of $475,000 in revenue
- DCIS has used Expense8 to provide expense management for over 8000 departmental users for more than 16 years
- The Expense8 platform is a leading provider of travel expense management software, card application and management
- 8common remains steady and trading at 10 cents per share
8common’s (8CO) subsidiary, Expense8, and the Northern Territory Department of Corporate Information Systems (DCIS) have extended their contract for another three years.
8common provides travel and expense management and card services for over 120 entities across the Federal, New South Wales and Northern Territory Governments.
With an estimated value of $475,000, this contract extension enables improved platform efficiencies to 38 Northern Territory Government entities serviced by the solution.
The Expense8 platform is a leading pure-play 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.
DCIS has used Expense8 to provide expense management for over 8000 departmental users for more than 16 years.
CEO Andrew Bond is pleased with the contract extension.
“8common continues to consolidate its leading position within the government vertical to secure significant, long-term contracts that allow us to offer our TEM software and card services to a range of government departments on a state and federal level, and ensure consistent revenue will support the sustainable growth of our software solution,” he said.
“We recognise the strong endorsement this continued engagement with the DCIS provides for Expense8 as a platform and for 8common’s high standard of customer integration and service,” he added.
The 2020 financial year contract wins for 8common now totals over $1.83 million.
At market close, 8common remains steady, trading at 10 cents per share.
