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8COMMON LIMITED — Capital/Financing Update 2019
Feb 26, 2019
64263_rns_2019-02-26_32c0038b-3f75-4953-8147-182e28a29df4.pdf
Capital/Financing Update
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8common
27 February 2019
ASX Release
Material Contract from the Federal Department of Finance
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Existing contract extended by $137,060 including GST
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Implementation to be completed by July 2019
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27% growth in active cards over last 12 months
8common Limited (ASX: 8CO) (Company) is pleased to advise that the Company has entered into an amended contract with the Federal Department of Finance which is valued at an additional $137,060 including GST. This amends the existing contract for the provision of Expense8 services. The amended contract implementation is due for delivery by July 2019.
Expense8 is growing strongly within the Federal Government , where Expense8 provides end to end Travel and Expense Management with over 14,000 active cards across 13 agencies. The expense8 Corporate Travel module offers a unique Pre-Trip approval function that let’s employees easily plan and book corporate travel. The module also includes an easy and secure approval process for both managers and employees to meet strict government compliance requirements.
At the Federal Department of Finance, which has been a client since 2001, the Expense8 platform works alongside the department’s SAP ERP system and will integrate with the Amadeus On-line Booking Travel platform which is used by the whole of government travel provider QBT.
Executive Chairman of 8common Nic Lim said “Through delivering a best of breed Travel and Expense Management platform, we are continuing to see strong adoption and increased usage of the platform across Government. Over the last 12 months, we have grown our Federal Government active card base by 27% to 14,000 cards, with more expected.”
For further information please contact: Nic Lim Executive Chairman E: [email protected]
About 8common Limited
8common is listed on the Australian Securities Exchange (ASX:8CO). With a focus on financial technology, the group’s core product expense8 delivers Travel & Expense Management (TEM) and Card Application & Management to large enterprises including Woolworths, Broadcast Australia, Amcor and State and Federal government agencies including the Federal Department of the Prime Minister and Cabinet and the NSW Department of Education.
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