- Smart Employee Benefits (SEB) has added three new multi-year clients
- These include a U.S. multi-state industrial company and two Canadian crown corporations
- The company is nearing C$500M in existing contract value
- Smart Employee Benefits provides leading-edge IT and benefits processing software, solutions and services
- Smart Employee Benefits (SEB) is up by 2.5 per cent trading at $0.205 per share
Smart Employee Benefits (SEB) has added three new multi-year clients.
The first, located in the U.S., is a multi-state industrial company to deploy SEB’s MarvalNA Service Management solutions with a recurring revenue profile.
The second is a crown corporation supply arrangement with a term of five years plus six option years.
The third is another crown corporation supply arrangement including a term of three years with three option years.
The supply arrangements give the company vendor status, conferring it the right to deliver IT solutions and services.
The contracts are in addition to its C$205M in contract wins and extensions over the past 15 months and over $470M of existing contract value.
“SEB had a strong year for contract wins in 2021 and the new contract wins in 2022 continue to be strong,” said John McKimm, Smart Employee Benefits’ CEO. “Typically, our contracts take several months to deploy, realizing some revenue in 2022, but it won’t be until 2023 before the full revenue and profitability of these new contract wins will flow-through our results.”
“Like more than 95% of our contract value, these new wins add to our large base of recurring revenue,” he added. “Our pipeline of sales opportunities remains very robust for 2022 and we expect substantial continued growth as the year evolves.”
Smart Employee Benefits provides leading-edge IT and benefits processing software, solutions and services for the government and life and group benefits marketplace.
Smart Employee Benefits (SEB) is up by 2.5 per cent trading at $0.205 per share as of 9:40 am EST.
