Tech: 8common’s expense management software continues to be a hit with the NT govt
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Expense management software provider 8common (ASX:8CO) is closing in on nearly two decades of service to the Northern Territory government with the securing of a three-year extension to its contract.
The company’s Expense8 software helps the department plan and book travel, reconcile expenses as well as provide tailored reports on a simple interface.
It has served the NT’s Department of Corporate Information Systems (and the 38 entities within this division) for over 16 years; among other government and corporate clients.
Today 8common announced a three-year extension to the contract – worth $475,000 in revenue.
CEO Andrew Bond said the company’s use of sovereign data centres and the fact it was IRAP-compliant (Information Security Registered Assessors Program) were key to 8common’s success.
IRAP is a cyber security standard, in the form of an assessment, which tech providers wishing to process or store Australian government information must meet.
While 8common was unchanged this morning, it has seen a solid 12 months, more than doubling in that time. It was one of the top 10 performing tech small caps last year.
Resources-focused software stock K2Fly (ASX:K2F) has more than doubled its December quarter invoices year-over-year to $1.67m – a new record for the company. K2Fly’s RCubed software is a compliance program that improves efficiencies for mining companies to meet their reporting requirements across different jurisdictions. The software has been deployed across 235 sites in 45 countries.
Fintech Raiz Invest (ASX:RZI) has witnessed another month of growth. Funds under management reached $444.7m by the end of 2019, up 1.5 per cent in a month. On a quarterly basis, this is up 12.7 per cent and yearly it was a 75 per cent gain.