Solution allows more effective management of Queensland's penalty debt levels
Stock Market Symbols
BRISBANE, AUSTRALIA, May 26, 2016 /CNW Telbec/ - CGI (NYSE: GIB) (TSX: GIB.A) announced today that it has commenced a contract with the Queensland Government's State Penalties Enforcement Registry (SPER) to implement and service a debt recovery solution that will enable faster collections while balancing fairness with effectiveness.
CGI's Collections360® solution will provide SPER with a single integrated system that will enable an increase in collections and a reduction in the age of debts, using analytics to drive automation and enhance productivity. The contract is valued at AU$58.8 million (CAD$57.6 million) which covers five years of service and an optional two years' extension. This service is expected to begin following completion of the implementation project in the second half of 2017.
"CGI's responsive solution will provide global best practices in debt recovery, customer profiling, payments and channel management. The tailored solution will include advanced data analytics, behavioural economics and system reporting and will be a powerful tool, allowing SPER to more effectively manage Queensland's penalty debt levels," said Colin Holgate, President of CGI in Asia Pacific.
"CGI has a 30-year track record of successful collections implementations for Governments across the world and 11 projects alone have so far secured revenue benefits of $5.7 billion. This is money that our clients have independently certified would not have been collected without our solutions," he added. "Our work with SPER will result in debts being collected faster while ensuring that vulnerable debtors are afforded appropriate advice and assistance from the outset. We are confident that the Queensland Government will quickly see the benefits of implementing CGI's solution."
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 65,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of Canadian securities laws. These statements and this information represent the intentions of CGI and Sears Canada, plans, expectations and beliefs, and are subject to important risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI's and Sears Canada's annual and quarterly Management's Discussion and Analysis ("MD&A") and in other public disclosure documents filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), as well as assumptions regarding the foregoing. The words "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI and Sears Canada disclaim any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
SOURCE CGI Group Inc.
For further information: Investors: Lorne Gorber, Executive Vice-President, Global Communications and Investor Relations, [email protected], +1 514-841-3355; Media: Jaime Zulkifli, Director, Asia Pacific Communications, CGI, [email protected], +61 408 782 629