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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
Bladex (NYSE: BLX) and CGI (TSX: GIB.A) (NYSE: GIB) have announced a partnership to implement the CGI Trade360 trade technology platform. Bladex will be the first Latin American-headquartered bank to adopt this award-winning SaaS platform, which supports trade finance in over 85 countries. The implementation aims to:
1. Improve Bladex's regional and global trade business
2. Optimize letter of credit processing
3. Enhance working capital solutions, security, and operational transparency
This partnership aligns with Bladex's strategy to remain a technological leader in trade finance solutions for Latin America. The CGI Trade360 platform supports over 50 products in traditional trade, payables, receivables, and cash management, offering a digital experience for bank clients, suppliers, and trade operations teams.
CGI, a leading IT and business consulting firm, has been awarded the DASA DevOps Business Value award for its exceptional ability to translate DevOps principles into tangible business value for clients across industries. The award, presented by the world's largest DevOps and Agile industry body, recognizes CGI's innovative approach that has significantly enhanced time-to-market, software quality, client satisfaction, and operational efficiency for its clients.
Rakesh Aerath, President of CGI's Asia Pacific Global Delivery Centers of Excellence, emphasized the company's commitment to continuous innovation in services, solutions, and delivery excellence. CGI offers a wide range of DevOps services, including education, maturity assessment, and transformation roadmaps, helping clients become high-performing agile organizations.
CGI has been awarded a contract by the City of Austin, Texas, to upgrade its enterprise resource planning (ERP) systems to the latest version of CGI Advantage®. This cloud-based solution integrates financial, vendor self-service, and procurement functions into a unified platform. The upgrade will introduce new features such as grants lifecycle management, enhancing efficiency and cost savings for Austin's municipal government.
CGI Advantage, a software-as-a-service (SaaS) platform, offers improved user experience, automated budget processes, and flexibility for adopting new technologies. It has been deployed over 500 times by public sector organizations to meet evolving citizen expectations, reduce cybersecurity risks, and streamline financial and HR processes.
CGI (NYSE: GIB), a global IT and business consulting firm, announced the successful upgrade of the City of Los Angeles' financial management and procurement operations through its cloud-based solution, CGI Advantage®. The upgrade modernizes essential business processes, integrating financial, procurement, and reporting functions into a unified platform.
The new system enhances operational efficiency, eliminating 130 customizations and integrating seamlessly with AWS and Salesforce. It also digitizes vendor interactions for over 7,300 vendors, providing real-time updates and an intuitive user experience.
The modernization includes data migration, decommissioning outdated systems, and extensive change management support, including eLearning and in-person training for city employees. CGI's timely and budget-conforming delivery underscores its long-term commitment to the City of Los Angeles, emphasizing both technological and human aspects in this transition.
CGI (NYSE: GIB), a leading IT and business consulting services firm, has been chosen by the State of Colorado to modernize its payroll operations with the CGI Advantage® ERP platform. This initiative aims to boost the efficiency and user experience for 33,000 state employees. The platform will provide a unified ERP system, enhanced security, and lower maintenance costs for Colorado's payroll systems. This project supports CGI's ongoing relationship with Colorado, where it already offers financial, procurement, and performance budgeting solutions. According to John Manta, Senior Vice-President at CGI, the modernization also includes plans for continuous investment in new technologies to meet citizen expectations and improve state organizational efficiency.
CGI (NYSE: GIB) has acquired Celero's credit union business, which serves over 90 credit unions across Canada. This acquisition includes master services agreements covering managed services, core banking, digital banking, and IT services. The acquisition complements CGI's existing banking services and strengthens its position in the Canadian credit union sector.
More than 150 Celero employees will join CGI, ensuring continuity and enhancing professional development opportunities. The deal also establishes new partnerships with Credit Union Central of Manitoba, Alberta Central, and SaskCentral. This move aligns with CGI's strategy of profitable growth and aims to foster future organic expansion.
CGI (NYSE: GIB), a global leader in business and IT consulting, announced a partnership with Munich Re's Risk Management Partners to aid insurers in reducing claims and increasing profits through climate risk mitigation. This collaboration will merge Munich Re's Location Risk Intelligence Platform with CGI's climate risk services, helping insurers adapt to climate-related challenges within a complex regulatory landscape. The partnership aims to enhance insurers' risk management by providing rich decision support data, enabling better pricing, risk concentration identification, and performance metrics. Ultimately, the initiative seeks to bolster a sustainable, resilient, and profitable insurance industry.
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.
CGI Federal, a subsidiary of CGI Inc. (NYSE: GIB), has been selected as a technology partner for the FBI to aid in modernizing its IT systems. This partnership allows CGI to bid on task orders under the FBI's ITSSS-2 BPA, which has a ceiling value of $8 billion. This BPA was awarded under the GSA MAS. CGI aims to leverage its global services, consulting, and managed IT services to enhance the FBI's project and program success. The new agreement builds on a decade of CGI's collaboration with the FBI and supports the Bureau's strategic needs in locations such as the National Capital Region and Huntsville, Alabama.
CGI (TSX: GIB.A, NYSE: GIB) has renewed its partnership with ExxonMobil to enhance payment and loyalty services across Europe and Asia Pacific. Utilizing the CGI PayPartner360 solution, CGI will provide payment infrastructure to over 13,000 fuel retail sites and engage more than 10 million active users through ExxonMobil's loyalty programs. CGI PayPartner360 facilitates over 1.6 billion fuel transactions annually and supports a variety of payment types, including card, wire, and real-time payments. This collaboration underscores CGI's expertise in secure payment technologies and aims to drive operational efficiency, customer engagement, and sustained growth for ExxonMobil.
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