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Press Release: CTG Selected to Implement ERP Solution and Secures Multiple Contracts for IT Solutions in Luxembourg
BUFFALO, N.Y., January 8, 2020 – CTG (NASDAQ: CTG), a leading provider of information technology (IT) solutions and services in North America and Western Europe, today announced a number of recent wins for its IT Solutions offerings in Luxembourg. Most notable among these new engagements, the Company secured a contract with Fonds du Logement (FDL) for the phase two implementation of a company-wide enterprise resource planning (ERP) system. FDL is a market leading residential and commercial real estate agency as well as the government appointed manager of the Housing Fund, which facilitates the sustainable development of affordable housing in Luxembourg. CTG’s new multi-year engagement with FDL includes the implementation of Microsoft Dynamics ERP and the development of supporting software to integrate certain third-party applications.
“As part of carrying out our mission to facilitate the availability of affordable housing, both rentals and subsidized sales, we continually face the technical challenges of a consistently expanding number of projects and physical locations,” stated FDL’s Julien Muller, Head of IT. “CTG has demonstrated exceptional business expertise and flexibility in its development of a centralized ERP system solution that is tailored to simplify FDL’s company-wide operations. We welcome this opportunity to extend our collaboration with CTG and benefit from this phase two implementation, which will enable us to better serve the growing housing demand in Luxembourg.”
Prior to CTG completing phase one of the ERP solution in December 2019, the client relied on utilizing numerous applications to manage different areas of its operations, such as accounting, building and office management, and vendor relationships. As part of phase one, CTG’s Luxembourg-based team collaborated closely with FDL to reengineer and develop optimized information management workflows into a centralized system. Building on these results and the insight into the client’s operations and business gained during phase one, phase two will include implementation of Microsoft Dynamics ERP and the development of middleware for the integration of additional applications currently utilized by FDL. CTG recently began work under the new contract, which is anticipated to extend through at least 2021.
“We are excited to be awarded this meaningful ERP solution business from FDL,” commented CTG Vice President, Rénald Wauthier. “The Company’s ongoing success in Luxembourg, including with organizations like FDL, further demonstrates the strategic merits of CTG’s acquisition of Tech-IT early last year, as we increasingly capitalize on our expanded portfolio of end-to-end IT and infrastructure solutions. Following the seamless execution and delivery on phase one, CTG was selected for the phase two implementation based upon our team’s exceptional technical skills and its ability to provide a tailored ERP solution. In addition to greatly valuing this ongoing relationship with FDL, we are very pleased with our recent momentum and growing number of engagements to deliver value-add information management solutions to clients in Europe.”
In addition, CTG recently secured other sizable, new IT Solutions contracts in Luxembourg. These incremental wins included an engagement with a large civil engineering and construction firm for hardware and software implementation. Then, most recently the Company was awarded a broad solutions project to integrate various IT and infrastructure resources along with the implementation of Promaides software at one of the client’s new facilities.
CTG has established a reputation for responsiveness and reliability—traits that our clients say set us apart—since our founding in 1966. Today, we provide comprehensive information, technology, and business solutions that address critical challenges for clients in high-growth industries in North America and Western Europe. Backed by a proven track record of reliable delivery, CTG fosters long-term client relationships and trust, which allows us to develop strategic insights that maximize client investments and competitive advantage. CTG has operations in North America, Western Europe, and India. The Company regularly posts news and other important information online at www.ctg.com
This press release contains “forward-looking statements” within the meaning of applicable federal securities law, and generally includes words such as “believes,” “expects,” “intends,” “anticipates,” “estimates” and similar expressions. The Company can give no assurance that any actual or future results or events discussed in these statements will be achieved. Any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing the Company’s views as of any subsequent date. Actual results could differ materially from the outlook, guidance, expectations, and other forward-looking statements as a result of a number of factors, including among others, the availability to the Company of qualified professional staff, domestic and foreign industry competition for clients and talent, including technical, sales and management personnel, increased bargaining power of large clients, the Company’s ability to protect confidential client data, the partial or complete loss of the revenue the Company generates from International Business Machines Corporation (IBM) and/or SDI International (SDI), the ability to integrate businesses when acquired and retain their clients while achieving cost reduction targets, the uncertainty of clients’ implementations of cost reduction projects, the effect of healthcare reform and initiatives, the mix of work between staffing and solutions, currency exchange risks, risks associated with operating in foreign jurisdictions, renegotiations, nullification, or breaches of contracts with clients, vendors, subcontractors or other parties, the change in valuation of capitalized software balances, the impact of current and future laws and government regulation, as well as repeal or modification of such, affecting the information technology (IT) solutions and staffing industry, taxes and the Company’s operations in particular, industry and economic conditions, including fluctuations in demand for IT services, consolidation among the Company’s competitors or clients, the need to supplement or change our IT services in response to new offerings in the industry or changes in client requirements for IT products and solutions, the risks associated with acquisitions, the negative effects of actions of activist shareholders and other factors that involve risk and uncertainty including those listed in the Company’s reports filed with the Securities and Exchange Commission as of the date of this document. Such forward-looking statements should be read in conjunction with the Company’s disclosures set forth in the Company’s 2018 Form 10-K, which is incorporated by reference, and other reports that may be filed from time to time with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.
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