Smart Employee Benefits Inc. announced 3 new contract wins for fiscal year 2022 in Canada and USA. Collectively, the IT budgets for these entities are hundreds of millions of dollars annually, and SEB has vendor status to bid on the delivery of IT solutions and services. The software/solution wins have a minimum value in excess of $5.7 million.

The Professional Services wins are over $70.8 million, including $33.1 million of option years. All contract wins are multiyear recurring revenue contracts with terms between 2 and 11 years. The Company has also added 3 new “Vendor Management Agreements” authorizing the Company to supply ITS software, solutions and services for the 3 entities.

These contracts give the Company the approval to participate in the IT budgets that exceed an estimated $40.0 million annually. The arrangements have terms up to 5 years, which typically are renewed once achieving approved vendor status.