CGI's Sunflower™ solution now available on U.S. Department of Treasury's Shared Services Marketplace

Rhea-AI Summary

CGI Federal announced that its asset management platform, Sunflower™, is now available on the U.S. Department of Treasury's Shared Services Marketplace (FM QSMO). Sunflower, a cloud-based SaaS solution, enhances asset management for federal agencies by providing robust capabilities in compliance, process streamlining, financial reporting, and analytics. It supports over 75 federal agencies and has received FedRAMP authorization for use across government bodies. The platform joins CGI's Momentum® Enterprise Suite, which also holds FM QSMO approval, reinforcing CGI's position as a trusted partner in financial system modernization.

Positive

• Sunflower's inclusion in the U.S. Department of Treasury's Shared Services Marketplace.
• FedRAMP authorization for Sunflower, certifying it for federal government use.
• Support for over 75 federal agencies, enhancing compliance and financial reporting.

Negative

• None.

Insights

Financial Analyst

CGI Federal Inc.'s Sunflower™ becoming available on the U.S. Department of Treasury's shared services marketplace is a significant development. This platform is designed specifically for federal asset management and its inclusion in the marketplace opens up new avenues for CGI's revenue generation. The asset management market for federal agencies represents a substantial and stable opportunity, which is critical for long-term growth. Furthermore, the platform's proven success in managing millions of assets across numerous federal agencies reinforces its reliability and value. This placement could also potentially lead to cross-selling opportunities within other government sectors, enhancing overall market penetration.

The immediate impact on CGI's stock may be modest but positive, as this indicates future revenue stability and growth potential. In the long-term, it positions CGI Federal as a key player in government tech solutions, an area with consistent demand and less susceptibility to economic volatility compared to commercial sectors.

Market Research Analyst

The inclusion of CGI's Sunflower™ on the U.S. Department of Treasury's shared services marketplace represents a strategic positioning within a critical, niche market. The financial asset management sector within government agencies requires high levels of compliance, security and reliability, attributes that Sunflower™ seems to fulfill robustly. This move not only strengthens CGI’s presence but also confirms the solution's compliance with rigorous federal standards, as highlighted by the FedRAMP authorization achieved last year.

From an industry perspective, the U.S. federal market is characterized by long procurement cycles but high loyalty and substantial contract values, making this a potentially lucrative long-term engagement. The FedRAMP certification and inclusion in FM QSMO bolster the credibility and trust agencies can place in CGI’s offerings, potentially accelerating contract wins.

Investors should note that while this does not guarantee immediate revenue spikes, it creates a strong foundation for stable and sustained growth. Furthermore, the integration capability with other financial management systems can increase the stickiness of CGI's solutions, reducing churn and fostering long-term client relationships.

FAIRFAX, Va., July 2, 2024 /PRNewswire/ -- CGI Federal Inc. (CGI), the wholly-owned U.S. operating subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), today announced that Sunflower,™ its cloud-based, software-as-a-service (SaaS) asset management platform is now available as an offering on the U.S. Department of Treasury's shared services marketplace. The marketplace – the Financial Management Quality Service Management Office (FM QSMO) – acts as a centralized broker of commercial and federal solutions across government agencies for technology support and solutions for core financial systems, financial management services and solutions, and Treasury-centralized services.

CGI's Sunflower solution is a proven, built-for-federal solution that strengthens asset management, including for personal and real property. Currently supporting accountability of millions of assets at more than 75 federal agencies and support organizations, Sunflower provides robust capabilities promoting compliance, streamlining asset management processes and financial reporting and leveraging analytics and data for critical insights.

"Leaders across the federal enterprise will benefit from access to Sunflower, now recognized as a trusted solution by the federal government with the assurance that it meets the highest criteria for quality, compliance, and security," said John B. Owens II, CGI Senior Vice President Consulting Delivery, Federal Solutions Group. "Our listing on the Department of Treasury's shared services marketplace reinforces CGI's position as a valued partner for agencies during their financial system and process modernization journeys. CGI Federal remains committed to federally driven initiatives that help agencies meet their financial management needs through this innovative marketplace of solutions and services."

Sunflower, a proprietary CGI solution, supports the Financial Asset Information Management functions of the Federal Integrated Business Framework and can be incorporated with approved Core Financial Management systems found on the marketplace in support of auditability and financial reporting. Sunflower received authorization by Federal Risk and Authorization Management Program (FedRAMP) last year, certifying the solution for use across federal government agencies. This new capability joins CGI's Momentum® Enterprise Suite that also earned FM QSMO approval in 2023.

About CGI Federal

CGI Federal Inc. (CGI), 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. 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/Sunflower.

View original content:https://www.prnewswire.com/news-releases/cgis-sunflower-solution-now-available-on-us-department-of-treasurys-shared-services-marketplace-302187357.html

SOURCE CGI Federal, Inc.

FAQ

What is Sunflower by CGI?

Sunflower is a cloud-based SaaS asset management platform by CGI, enhancing compliance, asset management processes, and financial reporting for federal agencies.

What recent announcement did CGI make about Sunflower?

On July 2, 2024, CGI announced that Sunflower is now available on the U.S. Department of Treasury's Shared Services Marketplace (FM QSMO).

What is the significance of Sunflower's inclusion in the U.S. Department of Treasury's Shared Services Marketplace?

Sunflower's inclusion in the marketplace validates its quality, compliance, and security, making it a trusted solution for federal agencies' asset management needs.

Does Sunflower have any certifications?

Yes, Sunflower has received FedRAMP authorization, certifying it for use across federal government agencies.

What other CGI solution is approved by FM QSMO?

CGI's Momentum® Enterprise Suite also earned FM QSMO approval in 2023.