8common Limited (ASX:8CO) Renews NSW Department of Education Contract
Contract Details
8common Limited (ASX:8CO) has renewed its contract with the NSW Department of Education (DoE) for a fixed term of two years, valued at $1.56m. The agreement includes two optional one-year extensions, bringing the total potential contract value to $3.54m including GST. This marks the second renewal since the initial contract began on 22 June 2015, with cumulative contract value reaching $8.27m.
Operational Achievements
Expense8, a subsidiary of 8common, manages over a million transactions annually for the NSW DoE, supporting 36,000 staff and 20,000 corporate cards. The platform is integral to the Department’s financial operations, enhancing productivity and ensuring seamless expense management.
Executive Comments
Chief Executive Officer Andrew Bond stated, “We are very grateful as we cross the 10 year milestone in what has been a highly collaborative relationship with NSW DoE. With a clear focus on championing the Travel & Expense Management sector, we have partnered with DoE on innovative solutions which include one of the largest corporate credit card application and management programs in Australia. As one of the largest public sector agencies in Australia, NSW DoE’s long-standing adoption of Expense8 continues to reinforce our credibility across state and federal government, making us the trusted benchmark solution. Expense8 processes more than a million transactions annually across 36,000 staff and 20,000 corporate cards within the Department, making the platform deeply embedded in daily financial operations and mission-critical to staff productivity. Our management software enables large Australian enterprises and government agencies to seamlessly audit, procure, reconcile and manage their entire travel and card expense system in an easy-to-use application.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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