8common Limited announced that it has received a further material contract under the Australian Government GovERP deed. Highlights: Three-year contract with Australian Securities and Investments Commission (ASIC) secured under the GovERP deed, with the option of two x 1 year extensions. $1.15 million inc GST total contract value signed including $650,000 inc GST for onboarding and implementation.

The contract will see approx. 2,000 users onboard onto the GovERP template which provides a unified solution for the whole of Government Travel and Expense management requirements. 8CO currently generates a Federal Government ARPU of $54 and services over 23,000 users across 31 entities in the Commonwealth.

Implementation revenue from the contract anticipated to be recognised in 2H FY23 with the associated SaaS transaction and recurring revenue commencing in 1H FY24. Total implementation and development contracts under the GovERP program since the deed was signed in July 2021 exceeds $4.7 million. 8CO anticipates to onboard further agencies under the GovERP agreement during the remainder of FY23 and in to FY24.

The contract with the Australian Securities and Investments Commission (ASIC) will see approx. 2,000 users on-boarded to the technology solution designed by 8common specifically with the GovERP program to provide a unified solution for the whole of Government Travel and Expense management requirements. The ASIC contract takes the total value of implementation revenue secured under the GovERP Deed to over $4.7 million (inc-GST), with 23,000 live users and 22,000 currently in the on-boarding phase.