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Federal Department of Industry, Innovation and Science goes live with implementation of Expense8 Travel and Expense Management

September 11, 2019 Business News No Comments

8common Limited (ASX: 8CO) (Company) is pleased to announce the Federal Department of Industry, Innovation and Science (DIIS) has gone live with the implementation of Expense8 Travel and Expense Management enterprise software as a service (SaaS) solution. The contract award was previously announced on 9 May 2019.With the addition of over 6,360 accounts (3,600 credit card and 2,600 cash reimbursement), the DIIS
implementation increases the total of active Federal Government accounts using Expense8 Travel and Expense Management to 25,000. It also takes the number of State and Federal Government
employees using Expense8 to more than 93,000.

The $297,000 three-year contract provides an integrated SaaS solution enabling DIIS to greatly
improve corporate travel planning and drive process efficiencies with expense reconciliation.
Implementation revenue of $92,000 will be recognised this quarter, with monthly recurring revenue
based on subscription and transaction use occurring for the remainder of the three-year contract, plus extension options.

Chief Executive Officer of 8common Andrew Bond said “The smooth implementation process of
Expense8 to DIIS is a testament to the strong collaborative relationship we have with both the client
and implementation partner. Building on our recent implementation of the Department of Finance
Shared Services hub with its potential 25 entities, we look forward to delivering Expense8 to the rest of the DIIS Shared Services hub entities in a similar manner. Our Federal Government active account base has grown by 107% to 25,000 active accounts in the last year, with more expected.”
The successful DIIS implementation further strengthens Expense8’s position within Federal and State Governments and provides a clear path towards significantly increasing its coverage from 120 to 160 Federal and State Government entities.

Andrew Bond said, “Our processes and resources are well placed to manage the anticipated scale up of implementations. The increase in users and active accounts will drive SaaS revenues which are
growing well. ARPU is the highest with Federal Government clients at $42 per user due to the high
adoption of the Travel module in addition to the Expense Management. “

The Expense8 Corporate Travel module offers a unique pre-trip approval function that allows
employees to easily plan and book corporate travel through every stage of booking, authorisation,
implementation and reconciliation. The module also includes an intuitive and secure approval process for managers and employees which meets strict government compliance requirements.

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