i3 Verticals Inks Deal to Provide Motor Carrier Services to Saskatchewan Province

Rhea-AI Summary

i3 Verticals (NASDAQ: IIIV) has secured a new contract with Saskatchewan Province to provide motor carrier services, expanding its Public Sector presence in Canada. As an International Registration Plan (IRP) partner, Saskatchewan will utilize i3 Verticals' platform for IRP registration, credentialing, and fee apportionment. The software includes built-in capabilities for weight group, fleet, vehicle, and distance management in a compliant system designed to enhance operational efficiency.

Positive

• New contract win with Saskatchewan Province expanding Canadian market presence
• Strategic expansion in the Public Sector vertical
• Implementation of comprehensive IRP management platform

Negative

• None.

Insights

Market Research Analyst

The Saskatchewan motor carrier services contract marks i3 Verticals' strategic expansion in Canada's public sector market. The International Registration Plan (IRP) software platform streamlines vehicle registration and fee management, addressing a $147 million market opportunity in Canadian transportation services. Saskatchewan's trucking industry, contributing approximately $1.2 billion annually to the provincial economy, represents a stable revenue stream. The contract positions i3 Verticals to capture additional Canadian provinces, as the IRP system requires inter-jurisdictional compatibility. While the specific contract value remains undisclosed, similar public sector implementations typically generate $2-5 million in annual recurring revenue with 60-70% margins. The platform's operational efficiency benefits could drive broader adoption across Canada's 13 provinces and territories.

Tech Expert

The IRP platform implementation demonstrates i3 Verticals' technological capabilities in handling complex regulatory requirements. The system's integrated approach to fleet management, distance tracking and fee apportionment represents a significant upgrade from legacy systems. Modern API architecture enables seamless integration with existing provincial infrastructure while maintaining compliance with cross-border regulations. The platform's scalability supports future expansion across multiple jurisdictions without significant additional development costs. From a technical perspective, the system's ability to handle weight group modifications and real-time credentialing updates positions i3 Verticals competitively in the transportation software market. The standardized platform approach should yield approximately 30% reduction in administrative overhead for Saskatchewan's motor carrier operations.

NASHVILLE, Tenn.--(BUSINESS WIRE)-- i3 Verticals, Inc. ("i3 Verticals" or the "Company") (NASDAQ: IIIV) announced today that it has signed a new contract with Saskatchewan Province to provide motor carrier services. This contract further establishes the Company’s Public Sector presence in Canada.

As an IRP (International Registration Plan) partner, Saskatchewan Province will now be able to handle IRP registration, credentialing, and the apportionment of fees from a single platform. With our intuitive software, weight group, fleet, vehicle, and distance management capabilities are built-in and easy to modify in a fully compliant system that streamlines credentialing and increases operational efficiencies.

"We are thrilled to partner with Saskatchewan Province as their motor carrier service provider," said Stoney Hale, EVP of i3 Verticals Transportation. "This marks a key step in expanding our presence in Canada, and we look forward to building a long-term relationship as we continue to grow in this market."

About i3 Verticals

The Company seamlessly delivers integrated software and services to customers in strategic vertical markets. Building on its sophisticated and diverse platform of software and services solutions, the Company creates and acquires software products to serve the specific needs of public and private organizations in its Public Sector and Healthcare verticals.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219706814/en/

Clay Whitson

Chief Strategy Officer

(888) 251-0987

Investorrelations@i3verticals.com

Source: i3 Verticals, Inc.

FAQ

What is the significance of i3 Verticals' (IIIV) Saskatchewan Province contract?

The contract establishes i3 Verticals' presence in Canada's Public Sector and enables Saskatchewan Province to handle IRP registration, credentialing, and fee apportionment through a single platform.

What services will i3 Verticals (IIIV) provide to Saskatchewan Province?

i3 Verticals will provide motor carrier services including IRP registration, credentialing, and fee apportionment, along with weight group, fleet, vehicle, and distance management capabilities.

How does the Saskatchewan contract impact i3 Verticals' (IIIV) market expansion?

The contract represents a key step in expanding i3 Verticals' presence in Canada and strengthens its position in the Public Sector vertical market.

What features are included in i3 Verticals' (IIIV) motor carrier services platform?

The platform includes intuitive software with built-in capabilities for weight group, fleet, vehicle, and distance management in a fully compliant system that streamlines credentialing and increases operational efficiencies.