CGI's Sunflower asset management cloud solution receives FedRAMP® approval

Rhea-AI Summary

CGI Federal Inc., a subsidiary of CGI Inc., has announced that its Sunflower™ asset management cloud solution has received approval from FedRAMP®, certifying it for use across federal government agencies in the U.S. The solution currently manages 4.2 million client assets at over 75 federal entities, providing improved efficiency, software standardization, and predictable costs. The approval provides federal IT decision-makers with confidence in the security and compliance standards of CGI cloud technologies.

Insights

Market Research Analyst

The FedRAMP approval for CGI Federal Inc.'s Sunflower asset management cloud solution signifies a substantial opportunity for the company to expand its services within the federal government sector. This certification is particularly relevant as it opens the door to a market that is often difficult to penetrate due to stringent security and compliance requirements. The fact that Sunflower is already in use by over 75 federal entities and manages more than 4.2 million assets demonstrates a strong existing footprint that can serve as a foundation for further growth.

Moreover, the emphasis on cybersecurity, cloud modernization and digital transformation aligns with the broader market trends where government agencies are increasingly seeking secure and efficient cloud-based solutions. The FedRAMP certification is a competitive advantage that can act as a differentiator in the procurement process, potentially leading to new contracts and an increase in market share for CGI Federal Inc.

Financial Analyst

The FedRAMP certification of CGI's Sunflower cloud solution could potentially lead to a positive impact on CGI Inc.'s financial performance. As federal agencies continue to invest in digital infrastructure, CGI is well-positioned to capture a significant portion of that spending. The approval not only validates the security and compliance of Sunflower but also can be seen as an endorsement that may influence other non-federal customers to consider CGI's solutions.

Investors should monitor the company's future earnings reports for increased revenue from government contracts, while also considering the costs associated with maintaining the high standards of security and compliance required by FedRAMP. Long-term, the company's investment in achieving this certification could result in a steady revenue stream, given the government's tendency towards long-term contracts and the need for ongoing service and support.

Legal Expert

FedRAMP compliance is a rigorous process that includes an extensive review of a company's data security and governance practices. CGI Federal Inc.'s achievement in securing FedRAMP approval for its Sunflower cloud solution not only demonstrates its commitment to meeting high security standards but also reduces legal and regulatory risks associated with government contracts. This approval serves as a legal assurance to potential government clients, minimizing the barriers to entry and potentially expediting the contracting process.

From a legal standpoint, maintaining this certification will require ongoing diligence to ensure that CGI remains in compliance with evolving federal standards. This underscores the importance of CGI's investment in compliance infrastructure and the potential for long-term legal and regulatory stability for the company.

FAIRFAX, Va., Jan. 23, 2024 /PRNewswire/ -- CGI Federal Inc., the wholly-owned U.S. operating subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), today announced that its Sunflower™ asset management cloud solution has received approval from FedRAMP^®, certifying CGI's cloud-based, software-as-a-service (SaaS) solution for use across federal government agencies in the U.S.

CGI's Sunflower cloud solution is a proven, built-for-federal capability that enables management of client property, including federal property, personal property and IT assets. Currently enabling management of 4.2 million client assets at over 75 federal entities, Sunflower asset management solutions provide clients with improved efficiency, software standardization and predictable costs, balancing client needs for flexibility and functionality. Many of the agencies currently using Sunflower today have authority to operate in cloud infrastructure environments.

"For federal asset and financial managers confronting the challenges posed by cybersecurity, cloud modernization and digital transformation, Sunflower empowers organizations to improve decision-making, accountability and transparency," said John B. Owens II, Senior Vice President Consulting Delivery, Federal Solutions Group, CGI. "Sunflower's listing as a FedRAMP-approved solution provides federal IT decisionmakers with additional confidence that CGI cloud technologies meet the highest security and compliance standards for mission-critical government entities."

FedRAMP is a government-wide program that promotes the adoption of secure cloud services across the federal government by providing a standardized approach to security and risk assessment for cloud technologies and federal agencies. As one of the most stringent compliance processes an IT provider can undertake, FedRAMP includes an in-depth examination of a solution's data security and data governance capabilities, as well as the security practices of its cloud services.

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 91,500 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. Fiscal 2023 reported revenue is C$14.30 billion and CGI Inc. shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com/sunflower.

View original content:https://www.prnewswire.com/news-releases/cgis-sunflower-asset-management-cloud-solution-receives-fedramp-approval-302041274.html

SOURCE CGI Federal, Inc.

FAQ

What is the name of the U.S. operating subsidiary of CGI Inc.?

The U.S. operating subsidiary of CGI Inc. is CGI Federal Inc.

What is the ticker symbol for CGI Inc. on the New York Stock Exchange?

The ticker symbol for CGI Inc. on the New York Stock Exchange is GIB.

What is the purpose of the Sunflower™ asset management cloud solution?

The Sunflower™ asset management cloud solution enables the management of client property, including federal property, personal property, and IT assets.

How many client assets does the Sunflower asset management solution currently manage?

The Sunflower asset management solution currently manages 4.2 million client assets at over 75 federal entities.

What does the FedRAMP approval signify for CGI's Sunflower solution?

The FedRAMP approval certifies CGI's cloud-based, software-as-a-service (SaaS) solution for use across federal government agencies in the U.S., providing confidence in the security and compliance standards of CGI cloud technologies.