Back in March, cBrain announced that we had been chosen as the supplier of a new IT system for a public authority in Germany. The system will be used in relation to auditing of private companies’ payment of employee pensions and social benefits.
cBrain has already delivered a number of solutions to the aforementioned German authority. However, this order holds great significance as cBrain will now be a supplier for a new department in the authority.
More than 3 million German companies need to be audited by the authority. As such, this is a large system expected to be implemented over a period of a few years. The system will potentially be used by several thousand employees in the authority.
On the basis of a public tender, the authority procured a number of F2 licenses back in March to establish the new IT system.
Through further public tenders, the authority has chosen cBrain as the supplier of a number of consulting services which, amongst other things, will be related to the establishment of the new system. Initially, this will include 1,000 days of work. Naturally, this is joyous news, and it supports that the project has gotten off to a good start.
In cBrain’s Q1 announcement for 2021, we could announce that exports had increased significantly, which, amongst other things, means that cBrain’s quarterly financial accounts for Q1 in 2021 show revenue growth of 30% compared to the same period last year.
At the same time, German accounts for the largest share of cBrain’s exports. The latest order is therefore important as continued growth in Germany in 2021 will have a significant impact on cBrain’s total exports in 2021.