CGI's latest Momentum® release delivers advanced AI capabilities to help federal agencies streamline operations

Rhea-AI Summary

CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has released Momentum 8.2, an updated version of its budget, financial, and acquisition management software for federal agencies. The new release features advanced AI capabilities, including the Momentum AI Assistant, which streamlines workflows and enhances productivity. Momentum 8.2 also introduces improved security measures and ensures compliance with federal mandates such as G-Invoicing, SFFAS 54, and DATA Act reporting requirements.

The software is FedRAMP authorized and available on the U.S. Treasury's FM QSMO shared service marketplace. Momentum is currently used by over 180 federal government organizations to manage more than US$1 trillion in budgeted authority and process millions of transactions annually.

Positive

• Introduction of AI-driven automation to streamline workflows and improve productivity
• Launch of Momentum AI Assistant for tailored user support and enhanced decision-making
• Fortified container security and support aligned with federal cybersecurity guidelines
• FedRAMP authorization and availability on U.S. Treasury's FM QSMO shared service marketplace
• Trusted by 180+ federal government organizations to manage over US$1 trillion in budgeted authority

Negative

• None.

Tech Expert

CGI's Momentum 8.2 release marks a significant leap in AI-driven automation for federal agencies. The introduction of the Momentum AI Assistant is particularly noteworthy, as it promises to enhance user support and streamline decision-making processes across budgeting, financial management and acquisitions. This could lead to substantial efficiency gains and cost savings for federal organizations.

The enhanced container security aligns with the growing emphasis on cybersecurity in government operations. This proactive approach to security, coupled with FedRAMP authorization, positions Momentum as a robust solution in an increasingly threat-prone digital landscape. The software's compliance with mandates like G-Invoicing and DATA Act reporting requirements further solidifies its value proposition for federal agencies seeking all-in-one solutions.

Financial Analyst

CGI's Momentum 8.2 update could potentially drive revenue growth for the company in the federal sector. With over $1 trillion in budgeted authority managed and millions of transactions processed annually, even small efficiency gains could translate to significant value for clients. This could strengthen CGI's market position and potentially lead to new contract wins or renewals.

The focus on AI and automation aligns with broader industry trends towards digital transformation in government operations. By offering these advanced features, CGI is positioning itself at the forefront of this shift, which could yield long-term benefits. However, investors should monitor the adoption rate of these new features and any associated implementation costs to gauge the true impact on CGI's financial performance.

Market Research Analyst

The release of Momentum 8.2 reinforces CGI's strong position in the federal IT solutions market. With 180+ federal government organizations already using Momentum, CGI has a significant installed base to upsell these new features. The inclusion on the U.S. Treasury's FM QSMO shared service marketplace could further expand CGI's reach within the federal sector.

However, the federal IT market is highly competitive, with players like Oracle, SAP and Accenture also vying for contracts. CGI's focus on purpose-built solutions for federal agencies and its track record in managing large-scale government operations could provide a competitive edge. Investors should watch for any shifts in market share or new contract announcements in the coming quarters to gauge the impact of this release on CGI's market position.

Update also features enhancements for further improved productivity, compliance and security

FAIRFAX, Va., Aug. 8, 2024 /PRNewswire/ -- CGI Federal Inc.(CGI), the wholly-owned U.S. operating subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), announced today the release of Momentum 8.2, the latest version of its industry-leading budget, financial and acquisition management software. Purpose-built for federal agencies, the solution's latest update reinforces CGI's commitment to innovation and continuous delivery of productivity, compliance and security features with no disruption of service to federal clients.

Enhanced features found in Momentum 8.2 include AI-driven automation that streamlines workflows in budgeting, financial management and acquisitions, empowering agencies to improve productivity and efficiency within existing resource capacity. A new function, Momentum AI Assistant, provides tailored support to users across the system, increasing productivity and augmenting decision-making processes. 

"Momentum 8.2 empowers federal agencies with cutting-edge technology that helps them enhance operational efficiency," said John B. Owens II, CGI Senior Vice-President Consulting Delivery, Federal Solutions Group. "With functions like Momentum AI Assistant, CGI enhances user support and process automation customized to meet the unique needs of federal agencies."

Momentum 8.2 also introduces fortified container security and support, aligning with federal cybersecurity guidelines. These enhancements reinforce CGI's commitment to safeguarding agency operations against evolving cyber threats through various measures, including data protection. Moreover, Momentum 8.2 ensures compliance with mandates including G-Invoicing, SFFAS 54 and DATA Act reporting requirements.

"CGI's commitment to innovation, compliance and security sets Momentum apart as the leading solution purpose-built for the federal government," said Kerry Canfield, CGI Vice-President. "As federal agencies face evolving and increasingly sophisticated security threats, Momentum is built with agency security in mind — it has been authorized for Federal Risk and Authorization Management Program (FedRAMP) and is offered on the U.S. Treasury's Financial Management Quality Service Management Office (FM QSMO)'s shared service marketplace, ensuring seamless compliance with federal mandates."

CGI's Momentum solution is trusted by more than 180 federal government organizations to manage over US$1 trillion in budgeted authority and process millions of transactions annually. More information about Momentum can be found here.

About CGI Federal
CGI Federal Inc., a wholly-owned U.S. operating subsidiary of CGI Inc., is dedicated to partnering with federal agencies to provide solutions for defense, civilian, healthcare, justice, intelligence, and international affairs missions. Founded in 1976, CGI Inc. is among the largest independent IT and business consulting services firms in the world. With 90,000 consultants and professionals across the globe, CGI Inc. delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI Inc. works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Inc.'s Fiscal 2023 reported revenue is CA$14.30 billion and CGI Inc. shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com/Momentum.

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SOURCE CGI Federal, Inc.

FAQ

What new features does CGI's Momentum 8.2 offer for federal agencies?

Momentum 8.2 offers AI-driven automation for streamlined workflows, the Momentum AI Assistant for tailored user support, enhanced container security, and improved compliance with federal mandates such as G-Invoicing, SFFAS 54, and DATA Act reporting requirements.

How does Momentum 8.2 address cybersecurity concerns for federal agencies?

Momentum 8.2 introduces fortified container security and support aligned with federal cybersecurity guidelines. It is also FedRAMP authorized, ensuring a high level of data protection and security for federal agencies.

What is the market reach of CGI's Momentum software in the federal sector?

CGI's Momentum software is trusted by more than 180 federal government organizations to manage over US$1 trillion in budgeted authority and process millions of transactions annually.

How does the Momentum AI Assistant benefit users of CGI's software (GIB)?

The Momentum AI Assistant provides tailored support to users across the system, increasing productivity and augmenting decision-making processes. It helps federal agencies improve efficiency within existing resource capacity.