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CGI Inc. (TSX: GIB.A, NYSE: GIB) is a leading global IT and business consulting services firm headquartered in Montreal, Canada. Established in 1976, CGI has grown to become one of the largest independent firms of its kind, with a dedicated workforce of over 90,000 professionals across 40 countries. The company provides a comprehensive range of services including consulting, systems integration, application maintenance, and business process services.
CGI’s extensive portfolio is designed to help organizations digitally transform their operations to achieve better efficiencies and results. Its major sectors of operation include government, healthcare, financial services, telecommunications, and utilities, among others. Notably, the government sector contributes more than one-third of CGI’s annual revenue.
CGI recently secured several significant contracts, including a five-year $162 million partnership with the UK Government's Cabinet Office to enhance their digital, data, and technology services. Additionally, CGI is involved in the modernization of Los Angeles County's ERP systems and continues its collaboration with Market Operator Services Ltd (MOSL) in managing core water retail market platforms in England.
Financially, CGI reported a fiscal 2023 revenue of CA$14.30 billion, demonstrating stable growth with strong net earnings and cash generation. The company leverages a local relationship model supported by a global delivery network, positioning it to deliver tailored solutions and drive innovation across various industries.
Recent leadership changes include the appointment of François Boulanger as President and CEO, effective October 1, 2024, indicating a strategic focus on sustained growth and operational excellence. CGI continues to enhance shareholder value through strong profitability, cash generation, and strategic share repurchases.
CGI's future outlook includes executing its
CGI (TSX: GIB.A) (NYSE: GIB) has announced it will release its fourth quarter and fiscal year 2024 results on Wednesday, November 6, 2024, before markets open. Management will host a conference call at 9:00 a.m. (EST) to discuss results and answer questions. The company, a global IT and business consulting services firm with 90,000 consultants worldwide, reported revenue of $14.30 billion in fiscal 2023. The earnings call will be accessible via conference call, webcast through the IR section of CGI's website, and later available as a podcast.
CGI has been recognized as a Major Player in the IDC MarketScape: Worldwide Professional Services Providers for Retailers 2024 Vendor Assessment. The report highlights CGI's distinctive proximity model, which positions project leaders close to client teams, fostering long-term partnerships. Leslie Hand, Group Vice President for IDC Retail Insights, praised CGI's culture and relationship-building approach.
The recognition underscores CGI's ability to drive digital transformation in retail, with a focus on improving profitability through data strategy and artificial intelligence. CGI's comprehensive portfolio helps retailers optimize operations, enhance customer experience, and improve supply chain agility while managing cost pressures.
CGI has launched a redesigned version of CGI ProperPay, a cloud-based solution enhanced with AI capabilities to improve payment and revenue integrity in healthcare. The platform helps healthcare payers and providers ensure accurate claims processing from submission to payment. Over the past 30 years, CGI's clients have recovered more than US $3B of improperly paid medical claims using CGI ProperPay and the company's expert team. The solution supports pre-submission, prepay, and post-pay reviews through a modular approach, offering increased automation and faster identification of inaccurate medical claim coding.
CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has been awarded three task orders by the U.S. Department of State to support visa application processing services in 25 countries across Europe and Asia. The task orders, awarded under the Global Support Strategy for Overseas Consular Support Services 2.0 (GSS 2.0) contract, have a combined 2-year base period funded value of US$37.4M and a total contract value of US$137.3M.
CGI will provide critical processing support for non-immigrant and immigrant visas through 2032, leveraging its CGI Atlas360 solution to enhance the application process. The company processed almost 5.5 million visa applicants globally in fiscal year 2023 and has over a decade of experience managing the DoS visa application process in 70 countries.
CGI, a leading IT and business consulting company, has extended its partnership with the Swedish Tax Agency to provide e-identification and electronic signature services. This collaboration aims to enhance the tax filing experience for millions of Swedish citizens. The agreement underscores CGI's ability to create value for society by improving efficiency, digital experience, and secure citizen services for government agencies.
In 2024, over seven million Swedish taxpayers filed their returns digitally, setting a new record. CGI has been instrumental in helping the Swedish Tax Agency transition from paper-based to almost entirely digital processes for income tax returns. This partnership highlights CGI's commitment to developing stable and secure citizen-centric services that deliver significant societal value.
CGI has announced the successful launch of its CGI Advantage® enterprise resource planning (ERP) system for the State of Iowa. This transformational platform is built on a unified software-as-a-service (SaaS) model, designed to enhance user experience, integrate and automate budget processes, and provide flexibility for adopting new technologies.
The system was deployed on time and on budget, digitizing manual processes, integrating functions with local systems, and leveraging automation technology. CGI Advantage, a solution specifically built for government use, features a secure design, intuitive user interface, and app-friendly environment. It has been implemented over 500 times in public sector organizations across the United States.
This launch builds on CGI's 30-plus year partnership with Iowa and reflects best practices from four decades of experience in implementing enterprise-level systems for the public sector.
CGI Federal Inc., a subsidiary of CGI Inc. (NYSE: GIB) (TSX: GIB.A), has been awarded a position on the Foundation Cloud Hosting Services II (FCHS2) contract by the U.S. Department of the Interior. This 10-year, US$2 billion Indefinite-Delivery, Indefinite-Quantity (IDIQ) contract allows CGI to offer a comprehensive range of cloud services and solutions to support critical modernization needs.
CGI leverages its Software-as-a-Service (SaaS) offerings, cloud IT strategies, and cybersecurity consulting to provide tailored digital solutions for federal clients. The company was recently named a Leader in the IDC MarketScape: U.S. Federal Government Cloud Professional Services 2024 Vendor Assessment. CGI has been the top provider by volume of cloud services to the federal government since its first Foundation Cloud Hosting Services IDIQ award in 2014.
CGI has been awarded a contract by Anne Arundel County Public Schools (AACPS) in Maryland to upgrade their enterprise resource planning (ERP) system with the latest version of CGI Advantage®. This upgrade will transition the school system's on-premise ERP to a cloud-based solution, offering efficient financial operations, automated budget processes, streamlined human resource management, and simplified vendor engagement.
The implementation of CGI Advantage will support AACPS in achieving goals outlined in their Blueprint for Maryland's Future, including strengthening governance and accountability through data-driven tools and reducing technical debt. For AACPS, which employs over 6,000 staff, the new system will provide flexible, secure, SaaS-enabled technology with a mobile-first design and intuitive user experience.
CGI, a leading business and IT consulting firm, has signed the European Union's Artificial Intelligence (AI) Act Pledge, reinforcing its global commitment to responsible and ethical AI practices. This signature is part of CGI's engagement with the European Commission's AI Pact. Jean-Michel Baticle, President and COO of CGI, emphasized the alignment between the AI Act Pledge objectives and CGI's own responsible use framework.
CGI's approach to responsible AI includes:
- A robust risk matrix
- Clear guidelines and best practices
- Ethical principles backed by scientific research
The company supports clients in developing responsible AI plans, focusing on governance, risk assessment, privacy, security, and optimal AI model selection. CGI offers AI-based consulting, services, and solutions to help clients leverage AI for their business objectives.
CGI's annual global research, based on interviews with over 1,800 business and technology executives, reveals three key trends in the IT and business consulting sector:
- Rebalancing cost savings with revenue growth: Clients are focusing on innovation, new products/services, and improved customer experience while maintaining cost control.
- Closer business and IT alignment: Alignment between business and IT operations is at its highest level, driven by efficiency focus and digital technologies.
- Increasing advantages for digital leaders: Those with successful digital strategies are widening the gap in achieving desired outcomes.
The research also highlights a significant increase in AI implementation, with 26% of executives implementing traditional AI and 79% exploring generative AI. AI tops innovation investment priorities for the next three years, reflecting its potential to transform business models and drive efficiency.
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