California's
Enterprise Data to Revenue project exceeds revenue target, on track
to generate $2.9 billion goal in
2016
Stock Market Symbols
GIB (NYSE)
GIB.A (TSX)
www.cgi.com/newsroom
FAIRFAX, VA, Aug. 25, 2016 /PRNewswire/ - CGI (NYSE: GIB)
(TSX: GIB.A) today announced successful implementation of the
Enterprise Data to Revenue project for the California Franchise Tax
Board (FTB), which has collected $2.6
billion toward a goal of $2.9
billion in revenue during the state's five-year FTB
modernization project.
"The EDR program is transforming California's tax administration operations,
providing better tax collection services, reducing taxpayer burden,
and reducing the state's tax gap — the difference between what is
owed and what is collected," said Dave
Delgado, Senior Vice-President, CGI. "CGI's innovative
solution allows the state to take a centralized approach to tax
collection activities, gives California Franchise Tax Board
personnel a single payer view for resolving collections issues, and
uses powerful workflow and analytics capabilities to enhance
operational productivity and performance effectiveness."
Currently in year five of a multi-year contract with the FTB,
CGI's solution has achieved a fundamental improvement of the
Board's customer service, revenue generation capacity and
organizational transparency. Enhancements include a
simplified view of FTB folders and systems that enable taxpayer
self-service, and strengthened data management and business rules
management for accurate processing of more than 16 million personal
income tax forms each year.
With CGI in the role of lead contractor, FTB modernization has
consistently met its schedule while surpassing revenue projections.
Just 15 months after work began, the project generated more than
$128 million – 81 percent above
target. In July 2014, EDR recoveries
topped $1 billion, a milestone
achieved 10 months ahead of schedule.
"The EDR project success is not a fluke," said Cathy Cleek, FTB CIO. "The CGI team has been
successful due to strengths in five key areas. These include
planning and phasing the project; effective processes including
risk management; teaming with the FTB staff; use of modern
technology tools and optimizing the solution for success and
taxpayer needs."
Utilizing CGI's unique and highly successful "benefits-funding"
model, California's FTB
modernization is a fixed-price, performance-based project in which
no monies are paid to CGI until state revenue is generated.
In 2012, CGI received the Center for Digital Government "Best
Fit Integrator" Performance and Modernization Award for its work on
behalf of the FTB.
"CGI's partnership with California FTB is built upon best
practices in terms of governance, project management and risk
mitigation," said Delgado. "It exemplifies what is possible when
there is a shared commitment to effective planning, detailed
business analysis, internal team cohesion, incremental risk
mitigation and joint contingency planning. These and other success
factors have led to the outstanding results realized for the
State of California during this
complex, multi-year IT modernization."
About CGI
Founded in 1976, CGI Group Inc. is the fifth
largest independent information technology and business process
services firm in the world. Approximately 65,000 professionals
serve thousands of global clients from offices and delivery centers
across the Americas, Europe and
Asia Pacific, leveraging a
comprehensive portfolio of services including high-end business and
IT consulting, systems integration, application development and
maintenance, infrastructure management as well as 150 IP-based
services and solutions. With annual revenue in excess of
C$10 billion and an order backlog
exceeding C$20 billion, CGI shares
are listed on the TSX (GIB.A) and the NYSE (GIB).
Website: www.cgi.com.
Forward-Looking Statements
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press release that do not directly and exclusively relate to
historical facts constitute "forward-looking statements" within the
meaning of that term in Section 27A of the United States Securities
Act of 1933, as amended, and Section 21E of the United States
Securities Exchange Act of 1934, as amended, and are
"forward-looking information" within the meaning of Canadian
securities laws. These statements and this information represent
CGI's intentions, plans, expectations and beliefs, and are subject
to risks, uncertainties and other factors, of which many are beyond
the control of the Company. These factors could cause actual
results to differ materially from such forward-looking statements
or forward-looking information. These factors include but are not
restricted to: the timing and size of new contracts; acquisitions
and other corporate developments; the ability to attract and retain
qualified members; market competition in the rapidly evolving IT
industry; general economic and business conditions; foreign
exchange and other risks identified in the press release, in CGI's
annual and quarterly Management's Discussion and Analysis
("MD&A"), in CGI's Annual Report, in CGI's Annual Report on
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SOURCE CGI Group Inc.