City of Austin completes successful migration of financial management system to CGI Advantage®

Rhea-AI Summary

CGI (NYSE: GIB) announced the City of Austin has completed migration of its financial management system to CGI Advantage, moving from on-premise to a SaaS operating model.

The upgrade includes the latest CGI Advantage Financial Management version, vendor-managed updates, centralized financial and administrative processes, and adoption of grants management functionality to improve oversight and reporting.

News Market Reaction – GIB

-2.75%

-2.75% Session close to close

In the Mar 24 session, GIB declined 2.75%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights CGI’s continued expansion of SaaS-based financial management solutions ...

Analysis

This announcement highlights CGI’s continued expansion of SaaS-based financial management solutions in the public sector, adding the City of Austin to a roster that already includes major government modernization projects. Recent news flow featured awards, AI recognitions and a US$64 million EPA contract, yet price reactions have been mixed across the last 5 items. Investors may watch how recurring SaaS wins affect backlog, margins and long-term government relationships.

Historical Context

5 past events · Latest: Mar 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 12	Product certification	Positive	-1.3%	Strata Enterprise earned Arum Approved System certification for complex decisioning.
Mar 09	Partner recognition	Positive	-0.4%	Achieved Databricks Gold tier status with two Brickbuilder specializations.
Mar 03	Channel award	Positive	+1.2%	Named Informatica European Channel Partner of the Year for second year.
Feb 25	AI services ranking	Positive	+0.5%	Positioned Best in Class in PAC RADAR for sovereign AI-related services.
Feb 24	Federal contract win	Positive	-1.0%	Won US$64M IDIQ contract to modernize EPA financial management systems.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent positive recognition and contract wins have produced mixed short-term price reactions, often skewing slightly negative despite favorable news.

Recent Company History

Over the past month, CGI reported several positive developments, including awards for data and AI delivery, recognition for sovereign AI-related services in Europe, and a US$64 million EPA financial systems contract. Despite this, three of the last 5 news events saw negative next-day moves. The City of Austin SaaS migration extends this pattern of government-focused modernization wins and product validations in public-sector financial and data platforms.

Key Terms

software-as-a-service, saas, on-premise deployment

3 terms

software-as-a-service technical

"CGI Advantage®, a software-as-a-service (SaaS) platform purpose-built for government."

Software-as-a-service is software that users access online through a web browser or app while the provider hosts and maintains the program and data, typically for a recurring fee. Investors care because it creates steady, predictable revenue and often high customer retention — like renting a utility rather than buying a machine — which helps forecast cash flow and values a company more consistently over time.

saas technical

"Austin's move from an on-premise deployment to CGI Advantage includes an upgrade... to a SaaS operating model."

SaaS, or Software as a Service, is a way of delivering computer programs over the internet, allowing users to access and use them through a web browser without needing to install or maintain the software themselves. For investors, it highlights a business model where companies generate recurring revenue by providing ongoing access to their software, often leading to predictable income and growth potential.

on-premise deployment technical

"Austin's move from an on-premise deployment to CGI Advantage includes an upgrade..."

On-premise deployment means software or IT systems are installed and run on a company’s own servers and physical premises rather than hosted by an outside cloud provider. For investors this matters because it affects upfront spending, ongoing maintenance, data control and compliance risk — like choosing to buy and maintain a house instead of renting, which can offer more control but also higher costs and responsibilities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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AUSTIN, Texas, March 24, 2026 /PRNewswire/ -- CGI (NYSE: GIB) (TSX: GIB.A), one of the world's largest independent technology and professional services firms, today announced the successful upgrade of the City of Austin's financial management system to CGI Advantage^®, a software-as-a-service (SaaS) platform purpose-built for government.

Austin's move from an on-premise deployment to CGI Advantage includes an upgrade to the latest version of CGI Advantage Financial Management and a transition to a SaaS operating model. The SaaS model provides continuous product enhancements and vendor-managed updates and is intended to support system stability and compliance with evolving requirements.

"This upgrade modernizes the City's financial management system and supports our long-term commitment to operational excellence and responsible stewardship of public funds," said Marija Norton, Controller, City of Austin.

The upgraded SaaS platform centralizes select financial and administrative processes across departments. A key enhancement is the City's adoption of CGI Advantage grants management functionality, which is designed to standardize grants processing, strengthen oversight and improve reporting capabilities across the City's grants portfolio.

"Austin's transition to CGI Advantage demonstrates how SaaS platforms can modernize financial operations while reducing risk and ensuring continuous improvement," said Wes Carberry, Senior Vice-President & Business Unit Leader, CGI, based in Austin, TX. "The platform provides a future-ready foundation that enhances efficiency and transparency, helping the City better support services for residents."

About CGI Advantage
CGI Advantage is a unified ERP platform featuring a powerful combination of modern technology and built-for-government solutions. This secure, intuitive platform organically meets state and local government requirements and streamlines financial management, human resources, performance budgeting, procurement and business intelligence operations. A proven solution, CGI Advantage is based on more than 50 years of public sector expertise and is supported by an active client community that values innovation and access to CGI's global network of experts. Learn more at cgi.com/advantage.

About CGI
Founded in 1976, CGI is among the largest independent technology and professional services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2025 reported revenue is CA$15.91 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
cgi.com/newsroom

View original content:https://www.prnewswire.com/news-releases/city-of-austin-completes-successful-migration-of-financial-management-system-to-cgi-advantage-302718926.html

SOURCE CGI Technologies and Solutions, Inc.

FAQ

What did CGI (GIB) announce about the City of Austin migration on March 24, 2026?

CGI announced the City of Austin completed migration to CGI Advantage SaaS, modernizing its financial management platform. According to CGI, the move upgrades the city's system to the latest Advantage Financial Management release with vendor-managed, continuous product enhancements and updates.

How will the CGI Advantage SaaS migration affect City of Austin grants processing and reporting?

The migration introduces CGI Advantage grants management to standardize grants processing and strengthen oversight. According to CGI, the functionality centralizes grants workflows and is intended to improve reporting capabilities across the city's grants portfolio for better transparency.

What operational benefits does the City of Austin expect from CGI Advantage, per CGI (GIB)?

The city expects improved system stability, continuous enhancements, and vendor-managed updates from the SaaS model. According to CGI, these features are intended to support compliance with evolving requirements and enhance operational efficiency and transparency for municipal services.

Does the City of Austin migration to CGI Advantage change the deployment model for its financial system?

Yes, the city moved from an on-premise deployment to a SaaS operating model for CGI Advantage. According to CGI, the transition centralizes select financial and administrative processes and shifts responsibility for updates to the vendor to enable continuous improvement.

What significance does CGI (GIB) highlight about the Austin upgrade for investors and municipal clients?

CGI frames the Austin upgrade as a demonstration of SaaS modernization for government financial operations and reduced operational risk. According to CGI, the deployment provides a future-ready foundation that enhances efficiency and transparency to better support city services.