CGI to continue modernization of Department of Interior's mission-critical National Trust Information System for Title and Land Resource Management

Rhea-AI Summary

On May 17, 2021, CGI (NYSE: GIB) announced a $60 million ceiling contract with the Department of Interior's Bureau of Indian Affairs (BIA) for enhancements to its Trust Asset Accounting Management System (TAAMS). This five-year contract aims to improve BIA's fiduciary duties to Native Americans, facilitating better information sharing and extended system functionalities. TAAMS manages natural resources across 112 million acres and distributes over $2 billion annually to tribes. This collaboration underscores CGI's long-standing commitment to supporting indigenous communities.

Positive

• Awarded a $60 million contract to enhance the TAAMS, indicating strong demand for CGI's services.
• Improved TAAMS functionality will facilitate better management of resources for Native Americans, which may enhance CGI's reputation and relationships within the sector.
• The contract supports the distribution of over $2 billion annually to Native Americans, showcasing the scale and importance of BIA operations.

Negative

• None.

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Enhancements to enable Bureau of Indian Affairs to more effectively manage fiduciary responsibilities to Native Americans

FAIRFAX, VA, May 17, 2021 /PRNewswire/ - CGI (NYSE: GIB) (TSX: GIB.A) announced an award from the Department of Interior's (DOI) Bureau of Indian Affairs (BIA) for continued enhancement of its Trust Asset Accounting Management System (TAAMS). Developed through a partnership between CGI and BIA, TAAMS has been central to BIA's management of its fiduciary responsibilities to Native Americans for over 20 years. Building on two decades of re-engineering business processes at the Bureau, this five-year single-award Indefinite Delivery/Indefinite Quantity (IDIQ) $60 million ceiling-contract will enable BIA to better serve Indian Country through enhanced information sharing and extended TAAMS functionality.

BIA leverages TAAMS to administer and manage natural resources on 55 million surface acres and 57 million acres of subsurface minerals estates held in trust by the United States for American Indians, Indian tribes, and Alaska Natives. With a user base of 3,000, TAAMS also enables BIA to accurately distribute more than $2 billion in revenue annually to Native Americans and tribes. As BIA looks to evolve TAAMS to support these mission-critical functions, CGI will introduce more functionality to the system, enhance reporting/dashboards, and increase data sharing with other federal agencies within and outside DOI.

"CGI's long history and deep understanding of BIA's mission and business processes helps us deliver on this critical system," stated Stefan Becker, Senior Vice-President at CGI. "As we add more new functionality to TAAMS, CGI will proudly continue to help BIA support two million indigenous Americans across 574 federally recognized tribes."  

About CGI Federal
CGI Federal Inc. is a wholly-owned U.S. operating subsidiary of CGI Inc., dedicated to partnering with federal agencies to provide solutions for defense, civilian, healthcare and intelligence missions. Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 77,000 consultants and other professionals across the globe, CGI 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 works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. With Fiscal 2020 reported revenue of C$12.16 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

Forward-looking information and statements
This press release contains "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbors. All such forward-looking information and statements are made and disclosed in reliance upon the safe harbor provisions of applicable Canadian and United States securities laws. Forward-looking information and statements include all information and statements regarding CGI's intentions, plans, expectations, beliefs, objectives, future performance, and strategy, as well as any other information or statements that relate to future events or circumstances and which do not directly and exclusively relate to historical facts. Forward-looking information and statements often but not always use words such as "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", "predict", "project", "aim", "seek", "strive", "potential", "continue", "target", "may", "might", "could", "should", and similar expressions and variations thereof. These information and statements are based on our perception of historic trends, current conditions and expected future developments, as well as other assumptions, both general and specific, that we believe are appropriate in the circumstances. Such information and statements are, however, by their very nature, subject to inherent risks and uncertainties, of which many are beyond the control of CGI, and which give rise to the possibility that actual results could differ materially from our expectations expressed in, or implied by, such forward-looking information or forward-looking statements. These risks and uncertainties include but are not restricted to: risks related to the market such as the level of business activity of our clients, which is affected by economic conditions, and our ability to negotiate new contracts; risks related to our industry such as competition and our ability to attract and retain qualified employees, to develop and expand our services, to penetrate new markets, and to protect our intellectual property rights; risks related to our business such as risks associated with our growth strategy, including the integration of new operations, financial and operational risks inherent in worldwide operations, foreign exchange risks, income tax laws, our ability to negotiate favorable contractual terms, to deliver our services and to collect receivables, and the reputational and financial risks attendant to cybersecurity breaches and other incidents; as well as other risks identified or incorporated by reference in this press release, in CGI's annual and quarterly MD&A and in other documents that we make public, including our filings with the Canadian Securities Administrators (on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov). Unless otherwise stated, the forward-looking information and statements contained in this press release are made as of the date hereof and CGI disclaims any intention or obligation to publicly update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. While we believe that our assumptions on which these forward-looking information and forward-looking statements are based were reasonable as at the date of this press release, readers are cautioned not to place undue reliance on these forward-looking information or statements. Furthermore, readers are reminded that forward-looking information and statements are presented for the sole purpose of assisting investors and others in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Further information on the risks that could cause our actual results to differ significantly from our current expectations may be found in the section titled "Risk Environment" of CGI's annual and quarterly MD&A, which is incorporated by reference in this cautionary statement. We also caution readers that the above-mentioned risks and the risks disclosed in CGI's annual and quarterly MD&A and other documents and filings are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial could also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation.

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SOURCE CGI Inc.

FAQ

What is the significance of CGI's new contract with the Bureau of Indian Affairs?

CGI's contract enhances the Trust Asset Accounting Management System, improving fiduciary management for Native Americans.

How much is CGI's contract with the Bureau of Indian Affairs worth?

The contract is valued at $60 million.

What functionality will be improved in the Trust Asset Accounting Management System?

CGI will add new features, improve reporting capabilities, and enhance data sharing with other federal agencies.

What does the Trust Asset Accounting Management System manage?

TAAMS manages natural resources on 112 million acres and distributes over $2 billion in revenue to Native Americans and tribes.

When was the CGI contract with the Bureau of Indian Affairs announced?

The contract was announced on May 17, 2021.